What % is left in circulation?

GMan00001

Silver Member
Dec 19, 2006
2,536
224
Twin Cities, MN
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Although I am sure this varies across the country, I have always wondered how many of certain coins were left to be found in circulation.

So I did a little analysis combining my search results with pubilshed mintage figures for the various coins of interest.

My results are based upon the following analysis of my own searching where the values are (# found / # searched):
For Indian pennies 1 / 111875
For wheat pennies: 12 / 2500
For Pre-1941 wheat pennies 1 / 2034
For V nickels: 1 / 92480
For Buffalo nickels: 1 / 11560
For war nickels: 1 / 3424
For pre-1960 nickels: 27 / 2000


First, here is how I arrived at my answers using wheat pennies as an example.

The total mintage of wheat pennies made: 25824458676
The total mintage of memorial pennies made: 412415676276 (assumes 2003 - 2006 were all the same as 2004)
The total mintage of lincoln pennies is then: 438240134952

Note:
The above mintages do not include all proof and mint set mintages, but since those numbers are low they will not change the overall numbers much.

So the percentage of wheat pennies if all were still in circulation is:
25824458676 / 438240134952 or approximately 5.89%

I find approximately 12 wheat pennies / 2500 pennies or 0.48% (per my results listed above)

That means there are 0.48% out of a possible 5.89% or approximately 8.146% are still in circulation.


Note:
This math assumes that no other coins are circulating and mixed in. (i.e. canadian, foreign, and indian head penny mintages were ignored for this figure.)
But since other coins are mixing in the actual percentage remaining is very slightly higher.


Performing similar math for other coins gets the following results:
----------------------------------------------------------------------
Pre-1941 wheat pennies: 3.174% still in circulation.
Buffalo nickels: 0.364% are left in circulation.
Pre-1960 jefferson nickels: 19.063% are left in circulation.
Silver War nickels: 1.671% are left in circulation.
Indian Head Pennies: 0.213% are left in circulation.


For the other coins of interest I don't have enough, or the right, data to complete with my search results, so for the remainder of the coins, I assume a find rate which may be incorrect. Just multiply by the real find rate by the percentage left to get the true amount remaining.

Assuming the find rate for Mercury Head dimes is 1 / 100000, there would be 0.0312% left in circulation.
To get the actual percent remaining multiply 0.0312% by the find rate per 100000 coins.

Assuming the find rate for silver roosevelt dimes is 1 / 2500, there would be 0.489% left in circulation.
To get the actual percent remaining multiply 0.489% by the find rate per 2500 coins.

Assuming the find rate for silver Washington Quarters is 1 / 10000, there would be 0.181% left in circulation.
To get the actual percent remaining multiply 0.181% by the find rate per 10000 coins.

Assuming the find rate for 90 % silver Kennedy Half Dollars is 1 / 1000, there would be 0.939% left in circulation.
To get the actual percent remaining multiply 0.939% by the find rate per 1000 coins.

Assuming the find rate for 40 % silver Kennedy Half Dollars is 1 / 250, there would be 1.917% left in circulation.
To get the actual percent remaining multiply 1.917% by the find rate per 250 coins.

Assuming the find rate for Franklin Half Dollars is 1 / 4000, there would be 0.236% left in circulation.
To get the actual percent remaining multiply 0.236% by the find rate per 4000 coins.

Assuming the find rate for Walking Liberty Half Dollars is 1 / 4000, there would be 0.259% left in circulation.
To get the actual percent remaining multiply 0.259% by the find rate per 4000 coins.


I am curious how this compares to data from other parts of the country.


Maybe this question has come up before, but anyone care to share their percentages to try to get an accurate picture of what is really left?
 

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synapse

Full Member
Oct 3, 2006
113
0
New England
I made a post for "what percentage is left" a couple months ago for half dollars - got good responses for a while, then people stopped posting. But still, the results are from a very large sample of halves, so it gives a good idea of how much hunting it takes to find each kind. You could use the percentages along with mintage figures to determine what might still be out there for us to find. Enjoy! http://forum.treasurenet.com/index.php/topic,55919.0.html
 

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GMan00001

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Dec 19, 2006
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I updated the values for half dollars based upon the numbers in the post mentioned by synapse. Thanks for the link btw.

I also took it a step further to show the approximate number of coins in circulation for the ones in which I have data.

And the results are for amount remaining in circulation are:


Half Dollars
------------
Barbers: 0.015% (approx. 18950 coins)
Walkers: 0.118% (approx. 572840 coins)
Franklins: 0.267% (approx. 1285696 coins)
90% JFK: 2.339% (approx. 10137156 coins)
40% JFK: 4.770% (approx. 40488907 coins)


Nickels
-------
V Nickels: 0.093% (approx. 1124021 coins)
Buffalo: 0.364% (approx. 4411664 coins)
pre-1960 Jeff: 19.063% (approx. 672109986 coins)
War Nickels: 1.671% (approx. 14535251 coins)


Pennies
-------
Indian Head: 0.213% (approx. 3933763 coins)
Pre-1941 wheat: 3.174% (approx. 215457294 coins)
all wheats: 8.146% (approx. 2103552648 coins)

As always the results are only as good as the data it is derived from.
 

Jeffro

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Dec 6, 2005
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Eugene, Oregon
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In my part of the country, I would say your personal figures are low on wheats and halves. Its not uncommon for me to find wheats in rolls, in my change, in the "take a penny" jar, etc. Buffaloes and V's are quite scarce here, but 90 percent halves and 40 percent halves are pretty common, too.

Been quite some time since I've found a silver dime or quarter in circulation as well, though. A coworker pulled one out of the coffee machine last month. But I think most all of these got pulled out quickly in the late sixties/early seventies as they're the most common as far as silver goes.
 

cyberdan

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Dec 12, 2006
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GMan00001 said:
Half Dollars
------------
Barbers: 0.015% (approx. 18950 coins)
Walkers: 0.118% (approx. 572840 coins)
Franklins: 0.267% (approx. 1285696 coins)
90% JFK: 2.339% (approx. 10137156 coins)
40% JFK: 4.770% (approx. 40488907 coins)

Those numbers sound great!!!

That could mean there is still over 26 million dollars still out there to be harvested.
What are we waiting for ;D ;D ;D
 

Roger1216

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Mar 22, 2016
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I've been buying $25 boxes of pennies here in north central Alabama. Typically find 5-10 wheats/box, out of 200-300 copper pennies/box
 

mxh5891

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Feb 27, 2013
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I've been buying $25 boxes of pennies here in north central Alabama. Typically find 5-10 wheats/box, out of 200-300 copper pennies/box

LOL you replied to a an almost 10 year old post.
 

Davers

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Jan 8, 2013
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Well I guess it's time for all involved to UPDATE their Numbers. (if possible).

I would be interested to see how much Circulation #'s of Wheat's & Silver has changed ,esp, after the 2011 PM, & Base Metal highs.
Davers
 

Dozer D

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Feb 12, 2012
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I get about 10-14 wheaties, and 15-18% coppers per $25 box.
 

GlenDronach

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Aug 21, 2012
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I get 6-12 wheats and I'd say 10-15% coppers per box but I only usually save 50-80 coppers per box, with little wear, gunk, or damage. For some reason I consider it "investment grade". I'm starting to consider "investing" them in something more enjoyable though. They're piling up and prices aren't really going anywhere.
 

IceePirate

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Aug 16, 2015
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1 silver Kennedy, about 35-40 wheats, .1 Indian head, 10-15 NIFC, 2-3 war nicks, 1-2 buffs, 2-3 rosies, .5 mercs, .5 washingtons, and 25-50% copper on average per box. I also get about 3-4 dimes per box of pennies.
 

mxh5891

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Feb 27, 2013
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1 silver Kennedy, about 35-40 wheats, .1 Indian head, 10-15 NIFC, 2-3 war nicks, 1-2 buffs, 2-3 rosies, .5 mercs, .5 washingtons, and 25-50% copper on average per box. I also get about 3-4 dimes per box of pennies.

Where the heck are you getting these boxes from? Those are some pretty high averages? Or have you only searched a few boxes and got really lucky?
 

RustyRelicHunter

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Oct 5, 2004
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There is a very interesting book that presents an adjusted view of the number of silver coins still in existence based upon the melting that has been taking place for so long. Your local library probably has it. It is The Big Silver Melt by Henry Merton and it also gives a very interesting look at the activities of the people who set up secret silver melting operations when it was illegal to melt U.S. silver coins.
 

IceePirate

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Aug 16, 2015
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Cincinnati, Ohio
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Where the heck are you getting these boxes from? Those are some pretty high averages? Or have you only searched a few boxes and got really lucky?

I only searches a couple boxes of nickels/dimes/quarters, but, I have a very large sample size of 50 and 100 for cents and halves respectively. However, the IH was wrong thinking back, I've only ever found the 1 1868 so far. Other than that, everything is averaged. On a 4 skunk streak for silver halves though.

As for the supply...lets just say I know a bank who orders coins for me. Car is brinks though.
 

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