The United States Mint announced today that circulating coin production at its Philadelphia and Denver facilities are temporarily converting from two-shift to three-shift operations to accommodate an increase in production requirements.
The Mint manufactures new coins to supplement Federal Reserve Bank coin inventories. Each month the Federal Reserve places orders for new coins and provides the Mint with a forecast for the next 12 months. The Mint uses this forecast to adjust its manufacturing plan. The Mint expects to deliver over 14 billion new coins this year in response to the Federal Reserve coin forecast. To keep pace with this forecast, Mint leadership determined there was a need to go to a three-shift operation at Philadelphia and Denver.
The Philadelphia and Denver Mints are the two facilities that produce the nation’s circulating coins.
Converting to three-shift operations will require the Mint to hire additional personnel at both facilities. It is anticipated 46 personnel will be hired in Philadelphia while approximately 40 will be hired in Denver. The conversion to three-shift operations is expected to be completed in the mid-
June to July timeframe.
Of course if we followed the lead of Canada, Australia, and New Zealand by eliminating the cent, perhaps the Mint’s resources wouldn’t be so stretched.
But given that’s about as likely as porcine aeronautics, I wonder what happens if Denver and Philadelphia bump up against their physical limits. Can they be expanded in place? Will San Francisco and/or West Point mint “stealth” coins for circulation as they did years ago?
[dream] Or, like opening a second BEP plant back in ’91, will a fifth mint be needed someday? [/dream]