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Show Treasury plans to double coin production The Treasury today announced an-nounced an intensified program pro-gram to double the nation's rate of coin production within a year and raise it by 75 per cent during the next six months. By next June, the program will boost the coin production to an annual rate of over 9 billion new coins more than double the 4.3 billion level for fiscal 1964 and triple the three billion level for fiscal 1961. For the last six months of this year normally a time of peak demand for coins the program will mean a 75 per cent increase in coin production produc-tion over the same period last year, a rise to 3.5 billion new coins from the 2 billion produced pro-duced in the last half of 1963. This increased production will be distributed among the present 5 denominations of coins in about the present ratios ra-tios roughly two-thirds pennies, pen-nies, one-fourth nickels and dimes, and the rest quarters and half-dollars. The new program will augment aug-ment the Treasury's already heightened efforts to expand the nation's coin production in the face of a growing need for coins. These actions will , increase production for the coming fiscal fis-cal year by 600 million coins, bringing total - budgeted production pro-duction up to some 5 billion coins. |