Musk isn’t introducing a novel idea. For years, people have advocated eliminating the penny, as pennies are rarely spent as change. And since the Covid-19 pandemic, more consumers are shopping online or avoiding physical currency altogether .

A penny-pinching tactic proposed by Elon Musk's Department of Government Efficiency could be getting rid of the penny itself.

The official X account for DOGE, the reform department headed by billionaire Elon Musk, shared facts about penny production in the United States — which is an affront to both efficiency and frugality.

The Department of Government Efficiency hinted it may be looking to eliminate the penny. Elon Musk's initiative says production of the coin is costing taxpayers millions of dollars.

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

Elon Musk’s Starlink network is winning Australian customers, but Communications Minister Michelle Rowland says NBN will remain cheaper and get faster.

According to the U.S. Mint, the cost to produce a single penny jumped 20% during the 2024 fiscal year to 3.69 cents.

The world’s most powerful tech bro Elon Musk has a new battle with the Australian government on his hands. First it was Anthony Albanese’s plan to restrict social media access for children that drew the ire of the Tesla boss, but now the battlelines are being drawn over internet access Down Under.

Grant Vowles lives in regional Tasmania and used to be on the NBN until he switched to a satellite competitor due to frustratingly slow speeds. He'll wait and see if Labor's pledge to "finish" the network convinces him to switch back.

Trump created DOGE and has given it a mandate to cut government spending. Musk has said that the agency is looking to trim $500 billion in government spending. The penny is worth only 1 cent and its production cost has increased in recent years. Each penny cost just 1.5 cents to mint in 2016.

Elon Musk’s Department of Government Efficiency ... The rising cost of metals, including zinc and copper, is part of the reason it’s getting more expensive to make the coin.

Failed to fetch dynamically imported module: https://finance.yahoo.com/assets/_app/immutable/nodes/100.C4PphV_N.js