Combine the sugar and water in heavy saucepan. Add corn syrup and cook over medium heat, stirring until the sugar is dissolved and the mixture starts to boil. Wipe the sugar crystals from the sides of the pain with a brush or damp cloth.
When the mixture comes to a boil, insert a candy thermometer and cook without stirring until the temp reaches 290 degrees.
Remove pan from heat and gently stir in the oil of peppermint and food coloring.
Immediately drop small teaspoonfuls onto prepared cookie sheet to form quarter-size drops. Work quickly, but if candy hardens, put the saucepan in a pan of hot water until consistency improves.
When cool, package coins in individually in plastic wrap and keep in a cool dry place.