A Penny Made is 2.8 Cents Wasted: Trump and Musk’s DOGE Aim to Eliminate Costly Coin

It’s official: the humble penny is on its way out. President Donald Trump, in collaboration with Elon Musk’s Department of Government Efficiency (DOGE), has announced plans to stop minting new pennies—because, let’s be real, it just doesn’t make sense to keep making a coin that costs nearly three times its value to produce.

Think about it: The U.S. Mint spent nearly $84 million last year to make about 3 billion pennies—all for coins that most people don’t even bother to pick up off the ground. That’s like paying $5 for a single dollar bill. Would you do that? Of course not. But for decades, the government has been making pennies at a massive loss, and now, Trump and Musk’s DOGE are stepping in to finally put an end to it.

So, what does this mean? Will pennies become valuable collector’s items? Should you start hoarding them like it’s the next Bitcoin? And most importantly—what are you supposed to do with all the pennies you already have?

The Penny Problem: Why It Had to Go

At one point in history, the penny was a useful coin. It had real purchasing power. But today? You can’t even buy a single piece of candy with one.

It costs more to make than it’s worth—about 2.8 cents per penny
It takes millions of taxpayer dollars every year to produce
It’s so worthless in daily transactions that most businesses don’t even accept them anymore
It literally wastes people’s time—ever been stuck behind someone counting out 37 pennies at checkout?

With inflation making the penny even more useless every year, it’s no surprise that other countries—like Canada—have already ditched their one-cent coins. Now, the U.S. is finally catching up.

A Brief History of the Penny (And How It Lost Its Worth)

The penny has been around since 1793, back when one cent actually meant something. The first pennies were pure copper and featured Lady Liberty, because, you know, America.

Fast forward to 1909, and the U.S. decided to put Abraham Lincoln’s face on it for his 100th birthday. Since then, the penny’s had some tweaks, but the biggest change was in 1982, when the government stopped making them out of pure copper and switched to a cheaper zinc mix because copper prices were too high.

But here’s the kicker: when pennies were first introduced, a single penny could buy you stuff.

A loaf of bread? 5 cents
A bottle of Coca-Cola? 5 cents
A newspaper? 1 cent

Today? Good luck finding anything that costs just one penny. Even those tiny Tootsie Rolls that used to be a penny each? Gone. Inflation has turned the penny into nothing more than extra weight in your pocket.

What Still Costs a Penny? (Spoiler: Almost Nothing)

If you’re wondering whether the penny still has a purpose, let’s take a look at what you can actually buy with one:

A penny for your thoughts? Still valid, but mostly metaphorical.
Making a wish in a fountain? Sure, but technically, you’re just throwing your money away.
Sales tax rounding? Maybe, if you like the thrill of paying exactly $5.01 instead of $5.00.
Tipping your waiter? If you leave just one penny, you’re probably getting some serious side-eye.
Gum ball machines? Used to be a penny—now they want at least a quarter.

Basically, the only thing the penny is good for is being the annoying change you get back when paying cash.

What to Do With Your Pennies Now

So, if the penny is officially done, what should you do with all the ones you’ve been hoarding in your junk drawer? Here are 10 genius (or just weird) ideas:

Make Some Cool Penny Art – Create mosaic-style artwork or unique framed pieces.
DIY Penny Flooring or Countertops – Glue them down, cover with resin, and boom—fancy upgrade.
Pay for Something (While Annoying a Cashier) – Buy a soda with only pennies. Just… maybe don’t.
Build a Penny Tower – See how high you can stack them before they fall.
Play Penny Hockey – Perfect for boring office meetings.
Turn Them Into Jewelry – Drill a hole, throw them on a chain, and call it fashion.
Donate Them to Charity – Some charities still take them, and every cent helps.
Use Them as Plant Markers – Stamp herb names on pennies for your garden.
Smash 'Em in a Souvenir Machine – Get that stretched-out tourist penny while you still can.
Send Them to Me – No address provided. Just start mailing pennies to random people and see if they reach me.

Will Pennies Become More Valuable?

Now that the penny is going extinct, does that mean they’ll skyrocket in value like old beanie babies? Probably not—at least not right away.

Most pennies are still only worth one cent, but a few rare ones (like the 1943 copper penny) have sold for over $1 million. So if you’ve got a stash of old pennies, maybe take a closer look before you cash them in.

Final Thoughts: The End of an Era (And the Start of My Penny Collection?)

Love it or hate it, the penny had a good run, but it’s time to move on. It’s outdated, inefficient, and literally costs us money to make.

So whether you turn your pennies into artwork, donate them, or just dump them in a wishing fountain one last time, know that you’re witnessing history.

And if you really don’t know what to do with them, you know where to send them. (Just kidding… or am I?)

RIP, pennies. You were small, inconvenient, and annoying—but you’ll always have a place in our junk drawers.