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 there’s a problem with his plan: Phasing out the penny could result in needing to make more nickels, and the US Treasury Department loses far more money on every nickel than it does on every ...

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Notably, the quarter cost 26% more to make than it did in 2023 and the penny 20% more. Experts say getting rid of the penny, however, could burden the US Treasury Department with producing more ...