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<p>[QUOTE="Ardatirion, post: 754130, member: 9204"]Maybe that's because they keep minting them... </p><p><br /></p><p>Mints have always been in a red queen's race to keep a sufficient number of coins in circulation, from ancient times to the present. The mint in 1963 estimated that 4.5% of all US coins in circulation were lost annually. Sure, there was more hoarding at the time, but factor in the decreased buying power and I'm sure that the figures have kept up.</p><p><br /></p><p> Don't believe me? This is a topic that has been very important to my research. Check out these articles:</p><p><br /></p><p>Newton, Douglas P. "Found Coins as Indicators of Coins in Circulation: Testing Some Assumptions" <i>European Journal of Archaeology</i> (2006)</p><p><br /></p><p>Cole, T. J. "The Lifetime of Coins in Circulation" <i>Numismatic Chronicle</i> (1976)</p><p><br /></p><p>U.S. Congress, Senate, Commitee on Banking and Currency, <i>Additional Mint Facilities</i>, Hearing before a subcommittee of the Committee on Banking and Currency, United States Senate<i>, </i>on S. 874, 88th Cong., 1st Sess. (1963)[/QUOTE]</p><p><br /></p>
[QUOTE="Ardatirion, post: 754130, member: 9204"]Maybe that's because they keep minting them... Mints have always been in a red queen's race to keep a sufficient number of coins in circulation, from ancient times to the present. The mint in 1963 estimated that 4.5% of all US coins in circulation were lost annually. Sure, there was more hoarding at the time, but factor in the decreased buying power and I'm sure that the figures have kept up. Don't believe me? This is a topic that has been very important to my research. Check out these articles: Newton, Douglas P. "Found Coins as Indicators of Coins in Circulation: Testing Some Assumptions" [I]European Journal of Archaeology[/I] (2006) Cole, T. J. "The Lifetime of Coins in Circulation" [I]Numismatic Chronicle[/I] (1976) U.S. Congress, Senate, Commitee on Banking and Currency, [I]Additional Mint Facilities[/I], Hearing before a subcommittee of the Committee on Banking and Currency, United States Senate[I], [/I]on S. 874, 88th Cong., 1st Sess. (1963)[/QUOTE]
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