The government lost money on every penny it made in 2016

The penny might be more trouble than it’s worth. The cost to produce the one-cent coin increased to 1.5 cents during 2016, the Wall Street Journal reported. Despite years of effort to wring costs out of production, it’s doubtful the copper-coated coin will ever sink below the expense of making it. The White House budget released in March 2014 called for a “comprehensive review” of U.S. currency production, including alternatives for the money-losing penny and nickel. Treasury Secretary Jacob Lew just over a year ago said his department was conducting such a review to see if it still made sense to keep the penny.