Back to today’s briefing

Story perspectives

Is the Penny Worth Saving? Musk's Agency Weighs Costs

2/2/2025

50 5

Summary

Story summary

Elon Musk's Department of Government Efficiency is weighing the fate of the U.S. penny, which costs taxpayers over 3 cents to mint, leading to a staggering $179 million loss this year. As inflation renders the penny increasingly irrelevant, advocates push for its elimination, while the Treasury remains silent on the matter.

1 of 1

Story summary

Elon Musk's Department of Government Efficiency is weighing the fate of the U.S. penny, which costs taxpayers over 3 cents to mint, leading to a staggering $179 million loss this year. As inflation renders the penny increasingly irrelevant, advocates push for its elimination, while the Treasury remains silent on the matter.