The U.S. Mint said in fiscal 2024, it took about 3.69 cents to produce and distribute one penny, a 20.2% increase from 2023.

The U.S. Mint reported losing $85.3 million in the 2024 fiscal year that ended in September on the nearly 3.2 billion pennies ...

In a post on the social network Truth Social, Trump made it clear why he thinks the production of one cent is unnecessary.

U.S. Treasury Secretary Scott Bessent has been ordered to cease production of the one-cent coin known as the penny.