The penny used to be 95% copper.
Today, pennies are only 2.5% copper, with cheaper zinc making up the remaining 97.5% of the coin.
In short, the US government couldn’t even maintain a copper standard.
https://financialunderground.com/articles/whoever-does-not-respect-the-penny-is-not-worthy-of-the-dollar/
It costs about 3 cents to create each penny.
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