A penny costs 1.62 cents to manufacture

 Washington DC - It costs more than a penny to manufacture a penny. It costs 1.62 cents to produce that 1 cent copper coin. The director of the Mint tried to make the penny cheaper to manufacture but Congress shut that initiative down. As it currently stands, the Treasury boss can recommend changes in metal content or in the amount of coins produced but only Congress can make the final decision.  More…