A penny-pinching tactic proposed by Elon Musk's Department of Government Efficiency could be getting rid of the penny itself.

Musk isn’t introducing a novel idea. For years, people have advocated eliminating the penny, as pennies are rarely spent as ...

The Department of Government Efficiency hinted it may be looking to eliminate the penny. Elon Musk's initiative says production of the coin is costing taxpayers millions of dollars.

Elon Musk's DOGE is taking aim at the U.S. penny, pointing out that it costs more to manufacture than it's worth.

The official X account for DOGE, the reform department headed by billionaire Elon Musk, shared facts about penny production ...

Elon Musk's Department of Government Efficiency ... When it was first produced, the coin was larger and made of pure copper. Today’s smaller coin is made mostly of zinc, according to the ...

Elon Musk’s Department of Government Efficiency ... The rising cost of metals, including zinc and copper, is part of the reason it’s getting more expensive to make the coin.

According to the U.S. Mint, the cost to produce a single penny jumped 20% during the 2024 fiscal year to 3.69 cents.

Billionaire Elon Musk's Department of Government Efficiency ... Pennies are mostly made of zinc, with a copper overlay to give them their distinctive color. While zinc's price fluctuates from ...