On X, DOGE pointed out the federal government spends more to produce the penny than its worth. But the penny has survived ...

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.

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

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-led Department of Government Efficiency has set its sights on an unexpected target: the U.S. penny.

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 ...

The US penny costs over three cents to make, despite it denominating only one cent, costing taxpayers over $179 million in ...

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 ...

The use of cash has been declining in recent years, according to the Federal Reserve's 2024 report on consumer payments. Although the report doesn't specifically address penny usage, it notes that ...

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 ...

In a move that could ultimately save U.S. taxpayers millions of dollars, the new Department of Government Efficiency seems to be eying eliminating the penny. As the […] ...

Meanwhile, Musk is gearing up to lead DOGE as the agency begins operations following Trump’s executive order. The multi-billionaire previously promised to cut $2 trillion from the federal government’s ...