He’s right — in fact, each US penny costs 3.7 cents to produce and distribute as of 2024. Pennies and nickels cost more than they were worth for the 19th consecutive fiscal year, according to ...

"Let's rip the waste out of our great nations budget, even if it's a penny at a time." Trump actually undersold the cost argument - pennies cost more than 3 cents to produce. But there's a problem ...

In fact, according to the U.S. Mint, the cost for creating a penny was 3.69 cents each last year, and the coins accounted for about half of the non-folding money shipped out by the government.

Let’s rip the waste out of our great nation’s budget, even if it’s a penny at a time,” President Trump said. The current cost? Approximately 3.7 cents to produce and distribute each penny.

Now, it is a target of Trump's federal cost-slashing efforts. Here is what we know so far. A new penny-pinching tactic?Elon Musk's DOGE says getting rid of the penny could cut costs Need a break?