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Monday, December 15, 2014, 10:22 AM. Pennies are worth so much more than just a cent. It costs the U.S. Mint 1.7 cents to produce a penny, which is nearly half the price from three years ago, according to the U.S. Mint's 2014 Biennial Report to the Congress. It would cost 2.4 cents to make a single penny in 2011.
The Mint cut cost of making pennies and nickels, but they still cost more to make than their face value. Despite lower production expenses, pennies and nickels still cost more to make than their face value -- and that added up to a loss of $90.5 million to taxpayers this year, according to a new Treasury Department report.