The Treasury mints more than 5 Billion coins a year, where do they all go?

[NoDecision]

5 Billion coins is a lot of coins. So in the last 5 years that makes 25 billion. Where do they all go? We should have enough coins in circulation to build the Statue of Liberty with pennies, and the Golden Gate Bridge with other denomination coins. Maybe the mint employees just melt them back down as fast as they mint them so they will have job security as the mint will always keep running.

[WonderingManII]

Since I don't know, I asked Google.

"The United States Treasury produces billions of coins each year, and they are distributed to the Federal Reserve Banks. The Federal Reserve then distributes these coins to commercial banks, credit unions, and other financial institutions, which in turn provide them to their customers. This ensures that new coins are available for use in transactions.
Here's a more detailed breakdown:
1. Minting:
The U. S. Mint, a part of the Treasury Department, is responsible for producing all circulating coins.
2. Transportation to Federal Reserve Banks:
Once the coins are minted and inspected, they are transported to the Federal Reserve Banks.
3. Distribution to Financial Institutions:
The Federal Reserve Banks take orders from banks, savings and loans, and credit unions and distribute both new and circulated coins to them.
4. Availability to the Public:
These financial institutions then provide coins to their customers, making them available for use in everyday transactions.
5. Coin Recycling:
When coins become worn or damaged, they are removed from circulation by the Federal Reserve, and they are either melted down and repurposed or recycled for other uses"

[Finchie40]

Mostly to the banks and federal reserve or people collect them and hold onto them , I did hear they were talking about eliminating coons ans well as cash money to transition all of us over to cryptocurrency, , which I don’t see how that would be effective whatsoever it would just be another way the Government will keep tabs on all of us , if that was the case. For currency and coin to be eliminated that would be some crazy shit and people would go nuts if that was the case. So highly doubt that will happen but there has been talk about it happening.

[DeeDeeDeVour]

We have a gigantic Coca-Cola bottle that nearly as tall as me in our kitchen that is nearly filled up with U. S. coins.

[NoDecision]

I can sense those floor joists groaning under all that weight.

[Anonymous]

In big jars in homes all across America.

[NoDecision]

Don't tell the government or they will tax us on our loose change we hoard.

[Opinion Owner]

Probably

[Static_In_The_Attic]

Throughout the world I’m sure there are a lot of swear jars & I wouldn’t be surprised if all the coins are sitting in there especially nowadays.

In addition the sock monster’s in dryers around the world like to eat coins as well.

Beware Of The Sock Monster!

[Syntosi]

The mint who produces the coins also exchanges for old coins with institutions like banks once they are damaged or starting to become old which the mint then destroys and at least in theory recycles into new coins.

Coins needs to keep to a certain standard and they are not permanent. This standard is important for them to be used in vending machines and such things so as you use them. When you handle them they get worn down and loses thickness and weight over the years and the mint trades them in before this becomes a problem.

[DCVsMarvel2]

Government, instead of increasing taxes for the rich, is planning on not minting pennies by next year

Yes, you said that right. In order to "save money", they want to cut pennies, not, increase taxes on the rich. Take money away from the masses, while continuing to give it to filthy rich

[Miristheiss]

Well, I don't keep pennies. Whenever I get change and it has pennies I just leave them on the counter at the store/restaurant or I just throw them down on the ground.

My parents have these huge glass jugs of pennies they've left me. I have to get those to the bank in small stints to turn into cash money.

[AviatorTom]

People save them, or collect them. I'm an avid coin collector, and have a large collection of pennies. And think how many pennies are in cash register drawers, waiting to be used as change, and how many are just sitting at banks.

[bolverk]

The vast majority of the Billion's coins in circulation rarely see the inside of a bank after they've been issued, unlike bank notes. as to where they go a lot will be saved in bottles/jars though I wouldn't be surprised if a Billion or so are trapped inside sofa's and armchairs.

[jamesgoldman]

Some are proof/mint sets and other collected variants
Some might include gold and silver issues
Some leave the country in tourist pockets
Plenty are saved and some are just damaged even trashed

[Anonymous]

not to me. that's all I know. Maybe I need to follow through with building my chain of wishing wells to be installed across the country so everyone can throw their change to me instead of wherever the heck it's going now. 😁

[shortster]

5 billion for 320 million Americans is an average of 15-16 coins per citizen. That isn't that much when you look at it from this perspective.

[bowenw]

Vending machines eat them just like how dryers eat socks.

[NoDecision]

But even vending machines get emptied every week and the coins banked. When was the last time you saw a dollar coin? Or a half dollar in circulation?

[bowenw]

I empty the dryer after each load, but socks still disappear. The same must be true of coins and vending machines.

[NoDecision]

If they do eat your coins, at least you got something for them. A Snickers bar.

[bowenw]

They often eat the coins, don't give me anything, and laugh.

[NoDecision]

You do know where your socks and change go, right? They have filters in the washer and dryer. Lost stuff usually wind up in there. Most people don't even know there are filters. They only find out when they call a service man because their machine drains real slow, because the filter is full of socks and other things.

[blackeagle007]

I’d sure hate to be a teller and have to count all those

[FunkyMonkee]

After they've been out a few years they send them all to me.

[onedarkcloud]

The coins are put into service to replace old damaged and destroyed coins

[NoDecision]

I can see paper money not lasting long but coins last a long time. I have pennies from 1918.

[onedarkcloud]

But I was talking about the trillions of coins floating around. I also have coins of the US from 1700, that are not used in everyday transactions. Coins are bent cut and used as washer targets melted in fires for their gold and silver. So replacements are necessary from time to time as paper money
is but paper is replaced more frequently.

[dragoblack]

Banks where they are dispersed to the public through transactions and businesses.

[Anonymous]

I presume people are saving them. Or possibly collecting them.

[exitseven]

I have a big jar full of coins. They are in there.

[DrPepper12]

Casinos? I don't know

[ohsheeT]

I collect coins but I wish I had that much

[Jennz6]

3cents it cost to make one penny

[NoDecision]

I read it was 5 cents. It also said a nickel costs more than 5 cents to make. Sounds like we are losing money making money. 🤔

[Jennz6]

@NoDecision
You’re right

[Fireguy17]

In jars in people's homes.

[SotiCoto]

Couches are eating them.

[fish5505_87]

In between the seat cushions of my couch!

[NoDecision]

You must have a very hard and lumpy couch.

[fish5505_87]

It's really big too, that's why it can hold so much!

[CaptainSmartass]

In the van.

Simples...

[Gym-Bro]

They melt them to make fake tooth mercury fillings

[Shiprex]

Slot machines