How Much Does It Cost to Make a Penny? (Price Guide)

The penny has long cost more to produce than it is worth. The U.S. Mint publishes a unit cost for each circulating coin in its annual report, and for the penny that number has stayed above the coin's face value for years. Fiscal year 2025, which ended on September 30, 2025, was the final full year of penny production.

The figures on this page come from the Mint's fiscal year 2025 annual report, as reported by CoinShop Finder. The Mint's own site can be hard to reach from some networks, so the numbers are cited through that summary of its unit cost table. Production of the penny for circulation ended in November 2025, so these are the last annual numbers for a coin that is no longer being struck.

The Mint reports unit cost as the full price of producing a coin and getting it to the Federal Reserve Banks. For fiscal year 2025 that came to 3.02¢ per penny. Because that is more than the coin is worth, each penny the Mint sold to the Federal Reserve lost money. The Mint calls the gain or loss on a coin seigniorage: face value minus the cost to make it. A positive number is a profit for the government, and a negative number is a loss.

The Mint splits unit cost into a few parts. Reading them side by side shows that metal and manufacturing are only part of the picture.

Cost of goods sold covers the metal and the manufacturing work at the mint facilities. Selling, general and administrative overhead is the share of the Mint's operating expenses assigned to each coin. Distribution is the cost of moving coins to the Federal Reserve Banks. The exact accounting rules are set out in the Mint's annual report, so check it if you need the precise definitions.

The unit cost moves with metal prices, production volume, and how the Mint allocates overhead. Most news coverage during the penny's retirement used the fiscal year 2024 figure, which is higher than the fiscal year 2025 figure shown above.

A lower cost in a given year does not mean the penny became cheap. It may reflect changes in production levels or in how costs were spread across coins that year. Compare years only with that in mind.

According to the source used here, penny production ended in November 2025. Public statements around the decision pointed to production cost, but a unit cost and a projected saving measure different things, and they are often reported as if they were the same. Use the unit cost on this page to understand what one coin cost, and look to the Treasury for statements about overall savings.

Yes. Ending production does not remove existing pennies from circulation. Stores and banks still handle them, and the coin keeps its value as legal tender. The Treasury has published guidance for cash transactions now that new pennies are no longer being made, including how businesses may round the total of a cash sale. Check the Treasury's guidance or your state's rules for the details that apply to you.

The penny is not the only coin that can cost more than its face value. The nickel has also cost more to make than it is worth, while the dime and quarter have come in under face value and earn the Mint a profit. If you want to compare, see the pages for the cost to make a nickel, a dime, and a quarter on this site.