New Year and New Coins for the US Mint

As 2023 begins, the US Mint has unveiled several coin designs and release schedules for the year and announced its final 2022 production figures. Both the Philadelphia and Denver Mints have now begun full-scale production of 2023 circulating coinage for eventual release into commerce.

Coin production slows

The pace of minting US coins for circulation slowed for a third year in a row, according to the final 2022 production figures from the Mint.

US minting facilities shipped just over 13.6 billion coins to Federal Reserve Banks for release during the calendar year, a drop of 6% from the nearly 14.5 billion coins struck in 2021 and 7.8% from the more than 14.7 billion coins made in 2020, when production ramped up again to alleviate coin circulation issues brought on by the pandemic.

The majority of coins produced were 1 cents (6.3 billion, or 46.7% of the total), down from 54.6% in 2021. Each of the coins now cost 2.1 cents to make and distribute.

2023 and 2024 programmes announced

The Mint has released the schedule for many of its numismatic products which will be made available to purchase in 2023. These include coins within the American Innovation, American Eagle, American Liberty, and American Women Quarters programmes.

The first coin in the 2023 American Innovation $1 programme – which began in 2018 and honours innovation and innovators from each of the 50 states, the District of Columbia, and the five US territories – has been launched, and focuses on the Midwestern state of Ohio.

The design is emblematic of the support and strength of the Underground Railroad, a network of routes and safe houses utilised by those escaping slavery and aided by abolitionists.

The other three coins in this year’s programme will focus on Louisiana, Indiana and Mississippi respectively.

The US Mint has also released details of the five women to be featured on the 2024 American Women Quarters coins. They are: 

• Patsy Takemoto Mink – first woman of colour to serve in Congress

• Dr Mary Edwards Walker – Civil War era surgeon, women’s rights advocate, and abolitionist

• Pauli Murray – poet, writer, activist, lawyer, and Episcopal priest

• Zitkala-Ša (‘Red Bird’) – writer, composer, educator, and political activist

• Celia Cruz – Cuban-American singer, cultural icon, and one of the most popular Latin artists of the 20th century.

The first coin of the 2023 series – featuring Bessie Coleman, the first African American and first Native American woman pilot – is scheduled for release on 14 February.