WASHINGTON -- The U.S. government is losing money on the penny, the Wall Street Journal reports.
The paper said it cost 1.5 cents to produce each penny in the 2016 fiscal year.
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U.S. Mint and the government have been looking at ways to lower production costs on the copper-coated zinc coin, but so far no one has come up with a solution.
Nickels are also a money loser, the newspaper said.
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The government traditionally makes money by producing quarters and dimes.
AP
Pennies sit in a bin at the U.S. Mint in Denver on Wednesday, Aug. 15, 2007. (David Zalubowski)