The attrition rate of United States coins in circulation: some evidence from Federal Reserve data

Author: Griffiths D.T.

Source: Applied Economics, Volume 34, Number 16, 10 November 2002 , pp. 2023-2029(7)

Publisher: Routledge, part of the Taylor & Francis Group

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Abstract:

The United States Mint recently conducted a coin attrition study designed to estimate the rate at which coins are withdrawn from circulation in order to better plan coin production. This paper reports on the analysis of a large sample of coins taken from the United States Federal Reserve Bank cash offices used to estimate coin attrition rates by denomination. The dollar value of the circulating stock of coin available to serve the needs of commerce is estimated to be $11.8 billion (?7.6 billion).

Document Type: Research article

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