Why the U.S. Keeps Making Pennies

New pennies enter circulation through banks and businesses, where they’re given out as change. But unlike other coins, most pennies never return to circulation. Instead, they end up in coin jars, under couch cushions, or lost in cars.

There are an estimated 240 billion pennies sitting unused—that’s about 724 pennies for every person in the U.S. Because they rarely get spent, the Mint has to keep producing more just to keep up.

Many countries, like Canada and Australia, have phased out their lowest-value coins. But in the U.S., getting rid of pennies is a tough sell. Businesses worry about price rounding, and some groups, like the zinc industry (which supplies penny materials), lobby to keep them around.

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Since pennies are mostly made of zinc and copper, their production cost fluctuates with metal prices. But for nearly two decades, they’ve cost more to make than they’re worth—yet the Mint keeps producing them.

The debate over whether to eliminate pennies continues, but for now, we’re stuck in a cycle. People hoard them, the Mint makes more, and taxpayers foot the bill. Unless spending habits change or laws are passed, the penny isn’t disappearing anytime soon.

Most pennies aren’t worth much, but some rare ones—like the 1943 copper penny—can be worth thousands. So, before tossing them in a jar, it might be worth checking for hidden treasures.

Ultimately, we keep making pennies because no one spends them, creating a never-ending cycle. Until the U.S. decides to phase them out, we’ll keep losing money on a coin most people don’t even use.

Stay tuned,

BREEFX ✨

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