Tag: Coinage Costs

President Trump suggested the U.S. might eliminate the penny due to its high production cost (3.69 cents per penny, totaling nearly $120 million annually for taxpayers). Following Canada’s 2012 decision to discontinue the penny, the argument centers on the penny’s economic inefficiency – costing more to produce than it contributes. While some groups, like Americans for Common Cents (funded by a zinc supplier), oppose the change due to potential impacts on charities and jobs