Imagine spending 4¢ent to make 1 cent— the U.S. penny now costs nearly four times its own value to produce. Should America finally retire the penny?

It now costs the U.S. Mint almost four cents to 

produce a single one-cent coin, according to the latest fiscal report — meaning the penny is worth less than it costs to make.

Rising prices of metals like zinc and copper, combined with manufacturing and distribution expenses, have pushed production costs well beyond the coin’s face value.

Critics say it’s time for the U.S. to phase out the penny, calling it an outdated and wasteful coin. However, others argue the penny remains symbolically important and convenient for small transactions.

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