05/23/2025
PENNY WISE and yet…
A penny costs 3.7 cents to make, which ultimately lost the US more than $85 million last year on coins that mostly end up on the ground or otherwise forgotten. The Treasury projects that stopping the one-cent presses will save the US $56 million annually…
…but it might ultimately cost money: The US could easily wipe out penny savings if it needs to churn out more nickels, which cost nearly 14 cents each to mint.—ML