Elon Musk takes on his biggest challenge yet: Getting rid of the penny
According to the U.S. Mint, the cost to produce a single penny jumped 20% during the 2024 fiscal year to 3.69 cents.
![Elon Musk takes on his biggest challenge yet: Getting rid of the penny](https://fortune.com/img-assets/wp-content/uploads/2025/01/GettyImages-2180232310-e1737664140727.jpg?w=2048#)
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