What happens to old coins?

Millions of coins are minted every year. Obviously some are taken out of circulation by collectors, and some get lost or badly mutilated. Very old coins (those made of gold, silver, or perhaps copper) may have more intrinsic value (value of the metal) than face value, and they get melted down. But what happens to... show more Millions of coins are minted every year. Obviously some are taken out of circulation by collectors, and some get lost or badly mutilated. Very old coins (those made of gold, silver, or perhaps copper) may have more intrinsic value (value of the metal) than face value, and they get melted down. But what happens to the rest? Why do governments have to continually mint new coins?
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