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Getting rid of the penny, which cost the government 3 cents each, could end up costing the Treasury Department money if it has to make more nickels, which cost nearly 14 cents each to make and ...
The agency’s 2024 annual report said the penny’s cost was “above face value” for the 19th year in a row. It cost 3.69 cents to produce a penny in 2024, up from 3.07 cents in 2023. USA ...
DOGE said on X that the penny costs over 3 cents to make and cost US taxpayers over $179 million in the 2023 fiscal year. “The Mint produced over 4.5 billion pennies in FY2023, around 40% of the ...
The current face value of a nickel is also well below that which the last remaining lowest-denomination coin (the penny) held at the time of the half-cent's elimination in 1857. [1] A penny in 1977 was worth the same amount as a nickel in 2023. [39] A nickel in 1977 was worth a quarter in 2023. [40]
USA TODAY spoke with more than a dozen people on Monday, most of whom suggested the 233-year-old coin is a relic of the past better remembered in places like the Smithsonian, than at the bottom of ...
The penny was first issued by the government in 1793. Since 1909, the profile of President Abraham Lincoln has adorned the obverse side of the coin that is made of zinc and copper.
"The penny costs over 3 cents to make and cost U.S. taxpayers over $179 million in FY2023," the message from DOGE read. "The Mint produced over 4.5 billion pennies in FY2023, around 40% of the 11. ...
According to the U.S. Mint, each penny costs 3.69 cents to produce in fiscal year 2024, costing taxpayers $119 million. This marked the 19th consecutive year in which production exceeded its face ...