Pennies cost more to produce than they were worth in 2016 - WDRB 41 Louisville News

Pennies cost more to produce than they were worth in 2016

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LOUISVILLE, Ky. (WDRB) -- It cost about 1.5 cents to produce each penny in 2016.

That's about the same cost as last year.

Minting about 9 million pennies this year, the government lost about $45 million. The U.S. mint has been looking for ways to lower production costs on the copper-coated zinc coin, but no solutions have been found so far.

The nickel is also a money loser, but the government usually makes money on the quarter and the dime.

Copyright 2016 by WDRB News. All rights reserved.

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