The cost of manufacturing both a penny and a nickel is more than the 1-cent and 5-cent values of the coins themselves. The cost of producing a penny has risen 27% in the last year, while nickel manufacturing costs have risen 19%. Skyrocketing metals prices are behind the increase. It cost dramatically less to just make paper money!
So I ask this question, with a recession almost near?
Does it make sense to continue making the penny?