When President Donald Trump announced his intention to eliminate the penny Sunday, he cited the rising cost of producing the coin. Data from the U.S. Treasury shows it’s not the only coin that c ...

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?

The familiar Abraham Lincoln penny cost about 3.7 cents to produce in fiscal year 2024, according to the U.S. Mint's annual report. A nickel cost about 13.8 cents to make. Pennies were among the ...

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.

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 ...

But Elon Musk’s Department of Government Efficiency raised the prospect in a post on X last month highlighting the penny’s cost. The U.S. Mint reported losing $85.3 million in the 2024 fiscal ...

“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 ...

President Donald Trump has charged Elon Musk and his Department of Government Efficiency with slashing large portions of the federal budget, and one idea Musk has proposed targets a longstanding ...

President Trump wants to end production of the penny It takes about 3.7 cents to ... the United States has minted pennies which literally cost us more than 2 cents. This is so wasteful!” ...

Technically, Trump underreported how much the U.S. spends to mint a single penny. The average cost to make one penny rose to 3.69 cents in the last fiscal year, marking the 19th consecutive year ...