In July 2024, the U.S. Mint produced 235.2 million coins for circulation. This number shows an increase from the previous month but is still much lower than last year. Let’s dive into the details of what was made and how it compares to earlier months.
U.S. Mint Production Overview
The U.S. Mint is responsible for creating coins that we use every day, like pennies, quarters, and half dollars. In July, the Mint made 235.2 million coins, which is 39.8% more than June but a whopping 79.4% less than July 2023. This was the eleventh month in a row that production stayed below 1 billion coins, following a period where it regularly exceeded that mark.
Monthly Production Comparison
Here’s a look at how July 2024 compares with other months in the past year:
| Month | Mintages (Millions) | Rank |
|---|---|---|
| July 2024 | 235.2 | 11 |
| June 2024 | 168.22 | 12 |
| May 2024 | 396.08 | 8 |
| April 2024 | 368.20 | 10 |
| March 2024 | 332.70 | 9 |
| February 2024 | 644.86 | 4 |
| January 2024 | 755.98 | 3 |
| December 2023 | 151.80 | 13 |
| November 2023 | 604.41 | 5 |
| October 2023 | 501.91 | 7 |
| September 2023 | 546.03 | 6 |
| August 2023 | 1,030.38 | 2 |
| July 2023 | 1,139.30 | 1 |
Types of Coins Produced
In July, the U.S. Mint made many types of coins, including:
- Lincoln Cents: 82 million coins, making up 34.9% of all coins produced that month.
- Quarters: Production went up by 3.3% from June.
- Half Dollars and Native American Dollars: No coins were produced in July.
The Mint typically produces coins based on what the Federal Reserve orders. Even though it costs about 3.07 cents to make each penny, the Mint continues to produce more pennies than any other coin.
Year-to-Date Coin Production
So far in 2024, here’s how many coins have been produced:
| Denomination | Denver (Millions) | Philadelphia (Millions) | Total (Millions) |
|---|---|---|---|
| Lincoln Cent | 780.4 | 734.8 | 1,515.2 |
| Jefferson Nickel | 32.88 | 36.72 | 69.6 |
| Roosevelt Dime | 138.0 | 92.5 | 230.5 |
| Quarters | 537.2 | 525.0 | 1,062.2 |
| Kennedy Half-Dollar | 11.6 | 9.9 | 21.5 |
| Native American $1 Coin | 1.12 | 1.12 | 2.24 |
| Total | 1,501.2 | 1,400.0 | 2,901.2 |
Kennedy Half Dollars and Native American Dollars
The Mint produces Kennedy half dollars mostly for collectors, but they have also made them for circulation in the past few years. For 2024, they haven’t confirmed whether they are making any half dollars for circulation yet.
The production of Native American $1 coins has also been lower, but they are still made for collectors.
2024 American Women Quarters
The U.S. Mint also produces special quarters called American Women Quarters. In 2024, the Mint released three designs featuring important women in history:
- Rev. Dr. Pauli Murray Quarter: 354.2 million made.
- Patsy Takemoto Mink Quarter: 397.4 million made.
- Dr. Mary Edwards Walker Quarter: 300.6 million made, which is the lowest number for any quarter in this series.
Conclusion
In conclusion, the U.S. Mint has ramped up coin production in July, but it still lags behind last year’s numbers. They continue to make more pennies than any other coin, despite the costs involved. The Mint’s mission is to produce enough coins for the public and banks, but this year has shown a significant decrease in overall minting. The new designs of the American Women Quarters highlight important figures in American history, making coin collecting even more interesting.
It’s essential to keep an eye on how the Mint adapts to the changing demands for coinage and how these coins reflect our history.
FAQ’s
Why did the U.S. Mint produce fewer coins in July 2024?
The Mint produced 235.2 million coins in July 2024, a drop of 79.4% from July 2023, due to lower public demand.
What types of coins were made in July 2024?
In July 2024, the Mint made Lincoln cents, quarters, and Kennedy half dollars but no nickels or dimes.
Why is the Dr. Mary Edwards Walker quarter important?
This quarter honors a notable woman in U.S. history and has the lowest mintage in the series, with 300.6 million produced.