Pennies cost more to make than they’re worth

It's the first time costs of production have risen since 2011

Photo Courtesy: MGNonline

(CNN) – The penny was once again a money-loser for the US government this year.

The wall street journal reports it cost one-and-a-half cents to produce each one-cent coin in fiscal year 2016.

It was about the same cost as last year but it’s the first time costs have risen since 2011.

The mint does make money on the dime and quarter, producing 2.87 billion dimes and 2.65 billion quarters in 2015. Meanwhile, mint facilities in Philadelphia and Denver produced 9.16 billion pennies during the same time.

The government and US mint have been seeking ways to lower production costs on the copper-coated zinc coin, but so far no solutions have been found.

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