July 14, 2024

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The Denver Mint is Taking Huge Losses on the Production of Nickels and Pennies Due to Inflation

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Making cents just doesn’t make sense anymore.

The cost to produce both pennies and nickels is now more than double what each of those respective coins is actually worth thanks to inflation, which is driving up the price of materials.

A recent United States Mint report outlining the skyrocketing costs says it now takes nearly three pennies to make just one — and more than ten cents to make a nickel.

Denver is home to one of the country’s four coin-producing mints, each of which are financially self-sustaining and therefore receive no federal or state funding, according to the mint’s official website. The facilities primarily make their money by selling the coins they produce at face value to the Federal Reserve, according to the U.S. Treasury.

The Denver Mint produces “approximately…

Benjamin Neufeld

2023-05-01 18:10:00

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