GMan00001
Silver Member
- Dec 19, 2006
- 2,536
- 224
- Detector(s) used
- Garrett Ace 250
- Primary Interest:
- All Treasure Hunting
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?
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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