Baseball legend Yogi Berra reportedly, and apocryphally, said, “A nickel ain’t worth a dime anymore.” That rings truer than ever now in the age of Bidenflation, which we will hopefully be seeing brought to heel soon. Even so, a nickel may not be worth a dime, but a penny, it turns out, costs the taxpayers more than three cents. The Department of Government Efficiency (DOGE) is proposing that we eliminate that troublesome coin.
In Tuesday X post, Musk’s DOGE wrote that the U.S. spends about 3 cents to mint each penny, which, of course, is only valued at 1 cent.
“The penny costs over 3 cents to make and cost U.S. taxpayers over $179 million in FY2023,” DOGE wrote. “The Mint produced over 4.5 billion pennies in FY2023, around 40% of the 11.4 billion coins for circulation produced.”
In pointing out the penny’s costliness, DOGE is taking aim at an issue that has…
