Opinion
Making pennies is a money-loser. Making nickels is worse.
Why President Donald Trump chose the middle of the Super Bowl to announce that his administration would stop producing pennies is anyone’s guess. But so he did, declaring at around 9:30 on Sunday evening that he was ordering the Treasury Department (which runs the U.S. Mint) to halt the manufacture of the copper-colored coins.
Why could getting rid of pennies cost the U.S. more money?
The idea of doing away with our smallest denomination is not new. The call to cut the penny has been growing louder in recent years, thanks in large part to one simple fact. it costs more to produce a penny than it is actually worth. According to CNN, it costs us three cents for every penny produced.
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