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.

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

Elon Musk’s Department of Government Efficiency (DOGE) has identified a new priority in its quest to slash federal spending: the humble American penny. In a post on X this Tuesday, DOGE noted that the ...

Trump has put Musk, the world's richest man and the CEO of Tesla, X, and SpaceX, in charge of the Department of Government Efficiency, which is not actually a federal agency, but more of a small ...

Trump created DOGE and has given it a mandate to cut government spending. Musk has said that the agency is looking to trim $500 billion in government spending. The penny is worth only 1 cent and its ...

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