What Does Mintage Mean? A Quick Look into Coin Production

Numismatics is a true science, and each science should have a foundation compiled of terms, definitions, proofs, and general knowledge of a subject. Mintage is one of the special aspects that may define the collectible potential of an item, its distribution, and value not to mention. But what exactly does mintage mean? And why should it be calculated properly? 

In this material, we would like to introduce a well-known yet complex term, explain the principles of mintage calculations, and teach you how to identify coins and the current mintage rate correctly. So, grab your coins and delve into the facts and figures of your collection. 

Basics First: What is Mintage?

In general, numismatics sees mintage as the process and the total amount of coins produced by a mint. To be more specific, it usually refers to the number of coins struck/designed/created over the given period, for a particular coin layout or denomination. This value is always subject to change, for this can be affected by numerous factors, starting with demands, composition, or the story hidden inside of the metal plate. 

For statistical purposes, mints controlled by a government or private institutions, release mintage figures to inform the public about how common a coin is to be. The lower the mintage is, the more valuable and desirable the item should be, this is the rule. Nevertheless, some coins may be influenced by more powerful factors like events that gave birth to these units of currency, designs, and the like. 

The Mintage Process

The coin mintage process is a unique yet almost eternal procedure that presupposes the transformation of the coin from the raw material into the plates with numerals, images, portraits (e.g., Edward VII coins), and/or inscriptions on them. This process, that had been established so long ago, indeed requires several steps to be taken to ensure the quality and consistency of the product. 

1. Designing the Coin.

First of all, each coin cannot exist without the idea of what it should look like, i.e., the image, inscriptions, denomination, special symbols or national emblems, and the like. A person responsible for the design should develop a project that is to be approved and engraved onto a metal die further. 

2. Blank Preparation. 

Right before a coin is to be struck, it is time to prepare planchets, i.e., blank discs of metal, that should be cut from larger pieces, then polished, and weighed to meet the requirements and ensure uniformity. 

3. Minting the Coin. 

The core of the process is indeed coin minting (striking) itself. There should be taken two dies (one for the obverse and one for the reverse respectively) to stamp the planchets with the coin design. When under pressure, the design is painted (squeezed out) on the metal, which results in a detailed image on both sides of the coin. 

4. Quality Control.

So as to proceed with packaging and distribution, the coin must be assessed to undergo quality control. If a mistake or error is found, the coin is to be destroyed or recycled to produce more coins in turn. Nevertheless, some erroneous instances may be brought to circulation, yet these are always considered more valuable due to their unique nature and peculiar representations.  

Types of Coins and Their Mintage

How Mintage Affects Coin Value

Indeed, mintages directly influence the value of the coin, since it directly reflects how rare and unique this or that coin may be. There is a simple rule: the lower the mintage, the more sought-after a coin. Besides, human psychology is a sophisticated system that forces people to long for what is limited and unique, even though it might be initially cheap and insignificant. This is how coins struck in small volumes excel and become worthy enough to enter the collector’s market for good. 

How to Find the Mintage of a Coin

For those who collect coins, it is vital to know how many coins were minted as this information may reveal the rarity and potential value of old and newly emerging instances. To identify these figures, one may appeal to trustworthy resources that provide reliable data regarding a coin’s mintage per year. 

Numismatic Apps: Moreover, there exists dedicated software like Coin ID Scanner that serves as numismatic encyclopedias with extended info about coins, their origins, stories, defects, and mintages, too. Should you come across a coin and wish to identify its mintage rate, open the Coin ID Scanner app, tap on the camera button, follow the tips, and explore the most detailed descriptions possible with the collector’s tips and comments left there.

Official Mint Websites: The most accurate data possible is usually presented by those who produce coins, i.e., official mints. National mint websites, e.g., the US Mint or Royal Mint, regularly publish detailed coin mintage charts, which may be considered quite authoritative and precise. 

Coin Catalogs: Different coin reference books and catalogs also list mintage numbers that refer to the real resources and insights from the authorities. Some catalogs, though, may be compiled by non-official representatives of the community, for they grasp mintage figures from different resources about rare or even obscure coins. 

Mintage is an important factor that should be carefully inspected when one strives to obtain a coin, especially a rare or limitedly distributed one. Nevertheless, one should always remember that mintage is just a part of the whole puzzle that comprises numerous aspects, and mintage is one of them. 

Sources: 

1. https://www.jstor.org/stable/299635

2. https://coinmintages.com/