February 25, 2014 – The US Mint has published the final figures of the fiscal year 2013 ending September 2013 (and thus not corresponding with the annual mintage because the fiscal year comprises also a portion of coins minted in 2012). The mint generated a revenue of $4.34 billion transferring an impressive $392 million to the Treasury (compared to only $77 million in the previous fiscal year).
Despite of reduced metal costs and falling general and administrative expenses the unit costs of the smallest denominations, the 1- and 5-cent coins, still exceed their face value by far, and have done so for the eighth consecutive fiscal year, according to the Mint.
Unit cost of the 1-cent coin was 1.83c (FY 2013: 2.00c) and of the nickel 9.41c (FY 2012: 10.09). Costs of all metals applied in the production have fallen in the last year, but this will not help solving the issue. Therefore the mint has done research on alternative metals as we report elsewhere.
http://www.coinsweekly.com/US-coins-to-alter-material-steel-instead-of-copper-zinc-and-nickel”http://news.coinupdate.com/us-mint-cost-to-make-cent-and-nickel-declines-3113/” target=”_blank”>Coinupdate on the situation of the small denominations …
… and on Numismaster.
For further information on the US Mint, please go to the Mint’s website.