Elon Musk's DOGE is taking aim at the U.S. penny, pointing out that it costs more to manufacture than it's worth.

In an X post on Tuesday, DOGE (which the Trump administration was immediately sued over on Inauguration Day), wrote that the ...

Rounding prices to the nearest nickel would not have “any significant inflationary consequences,” a 2023 study found.

The official X account for DOGE, the reform department headed by billionaire Elon Musk, shared facts about penny production ...

On The Express this week, we dissect the flurry of economic executive orders and announcements from the Trump administration and identify the new power brokers influencing markets and the future of A.

In a move that could ultimately save U.S. taxpayers millions of dollars, the new Department of Government Efficiency seems to be eying eliminating the penny. As the […] ...

The use of cash has been declining in recent years, according to the Federal Reserve's 2024 report on consumer payments.

Contemplating the fate of the coin isn’t worth your time—and that's exactly the point, according to economists who say it’s high time to phase out the one-cent piece.

Want to bookmark your favourite articles and stories to read or reference later? Start your Independent Premium subscription today. From reproductive rights to climate change to Big Tech, The ...

According to the US Mint's 2023 report, the penny's unit cost increased by 12.9%, more than any other coin. Fewer people are using cash at all these days, according to the Federal Reserve's 2024 ...

Trump has put Musk, the world's richest man and the CEO of Tesla, X, and SpaceX, in charge of the Department of Government ...

One of Elon Musk’s first goals in his new role as an advisor to Donald Trump may be to eliminate the penny, according to a comment his new advisory board made on X. Trump has put Musk, the world ...