According to the U.S. Mint, the cost to produce a single penny jumped 20% during the 2024 fiscal year to 3.69 cents.

A penny-pinching tactic proposed by Elon Musk's Department of Government Efficiency could be getting rid of the penny itself.

Musk isn’t introducing a novel idea. For years, people have advocated eliminating the penny, as pennies are rarely spent as ...

The Department of Government Efficiency hinted it may be looking to eliminate the penny. Elon Musk's initiative says production of the coin is costing taxpayers millions of dollars.

Elon Musk's DOGE is taking aim at the U.S. penny, pointing out that it costs more to manufacture than it's worth.

The official X account for DOGE, the reform department headed by billionaire Elon Musk, shared facts about penny production ...

Trump created DOGE and has given it a mandate to cut government spending. Musk has said that the agency is looking to trim $500 billion in government spending. The penny is worth only 1 cent and its ...

Elon Musk’s Department of Government Efficiency ... The rising cost of metals, including zinc and copper, is part of the reason it’s getting more expensive to make the coin.