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The E-Sylum: Volume 25, Number 6, February 6, 2022, Article 26

U.S. MINT MANUFACTURING COSTS REPORTED

The U.S. Mint recently published its 2021 Annual Report. Mike Unser summarized manufacturing costs in a CoinNews.net article. Here's an excerpt - see the complete article online. The one and five cent coins continue to cost more than face value to produce, but seigniorage totaled $381.20 million for the fiscal year that began on October 1, 2020 and ended on September 30, 2021. -Editor

Lincoln-cents-reverses The price for manufacturing U.S. coins for circulation went up last year, except for the half dollar, the United States Mint disclosed this month in its 2021 Annual Report. And for a sixteenth straight year, the unit cost for both cents and nickels was above their face values.

The Mint struck nearly 15 billion coins for circulation during the fiscal year.

In FY 2021, the toll to make, administer and distribute the 1-cent coin climbed to 2.1 cents from 1.76 cents while the cost for the 5-cent coin increased to 8.52 cents from 7.42 cents. Higher prices for copper and zinc accounted for much of the increases.

Lincoln cents have a composition of 2.5% copper with the balance zinc. Five-cent coins are minted in 25% nickel with the balance copper. Dimes, quarters, and half dollars are each composed in 8.33% nickel with their balance copper.

Unlike for cents and nickels, the U.S. Mint made money in striking dimes, quarters, and half dollars because the cost of manufacturing and distributing them was lower than their face values.

In FY2021, the unit cost for the quarter increased to 9.63 cents from 8.62 cents and the dime's unit cost rose to 4.39 cents from 3.73 cents. The unit cost for the half dollar, meanwhile, decreased to 11.67 cents from 25 cents — supported by an increase in the number of half dollars made and shipped to Federal Reserve Banks.

  US Mint FY 2021 costs

To read the complete article, see:
Penny Costs 2.1 Cents to Make in 2021, Nickel Costs 8.52 Cents; US Mint Realizes $381.2M in Seigniorage (https://www.coinnews.net/2022/01/18/penny-costs-2-1-cents-to-make-in-2021-nickel-costs-8-52-cents-us-mint-realizes-381-2m-in-seigniorage/)

  TCNC E-Sylum ad 2022-01-30 Prominence VI Sale v1
 

Wayne Homren, Editor

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