According to the latest annual report from the US Mint, each penny cost 3.7 cents to make, including the 3 cents for production costs, and 0.7 cents per coin for administrative and distribution costs.

The average cost to make one penny rose to 3.69 cents in the last fiscal year, marking the 19th consecutive year the coin has “remained above face value,” per the latest U.S. Mint report.

Additionally, eliminating the penny would not only have a negligible impact on inflation, costs and profits but also save time for customers and clerks, which could recoup about $730 million per year.

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 ...

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.

WASHINGTON -- President Donald Trump says he has ordered the US Mint to stop making pennies, which he correctly says cost more than one cent to produce. "For far too long the United States has ...

According to the latest annual report from the US Mint, each penny cost 3.7 cents to make, including the 3 cents for production costs, and 0.7 cents per coin for administrative and distribution costs.