I was cleaning out a big bowl, the kind that has collected in its belly a dusty mix of rocks, buttons, marbles, and coins. Since I am trying to quiet my mind and do one thing at a time, finish that thing, and not get frustrated that I am not doing other things in the meantime, I deliberately fished out each item and sorted them into new soon-to-be dusty, but seemingly organized collections. As I plunked the coins, mostly pennies, into a new jar, I wondered how many other little piles of coins are sitting in jugs, jars, bowls, pockets, and forgotten boxes all over the world. How much money is lying dormant, out of circulation, in drips and drabs of copper-plated zinc in each of our homes?
I have yet to find the answer, but in the meantime, I did discover the surprisingly large fluctuations in US coin production (minting) each year.
Here is a complete list, year by year, denomination by denomination
Amazingly, the number of coins produced in 2008 (10,141,580,000) was three times greater than in 2009 (3,548,000,000). Yes, putting more/less money into circulation is how inflation/deflation is adjusted, but I failed to remember that coins would play such a large part in the balancing act.
Should you discover more information, please send it our way!
Subscribe to:
Post Comments (Atom)
http://www.popfi.com/2010/09/24/rare-penny-sold-for-1-7-million/
ReplyDeleteThank you for your comment. It never ceases to amaze me how value is decided - monetary and otherwise. A penny that is worth 1.7 million seems like one of the most fitting examples of the strange (and insane) nature of contemporary capitalism, don't you think?
ReplyDelete