Not quite, they're actually a NEGATIVE value currency.
U.S. currency production is funded by the federal budget, supported by taxpayer dollars, and offset by seigniorage revenue.
The cost of producing the U.S. penny, exceeds its face value.
The GOVT. explain that this loss is recovered through the concept of seigniorage.
Seigniorage is the difference between the face value of money and the cost to produce it.
For the U.S. Mint, which produces the penny, the overall profit comes from the entire spectrum of coin production, not just the penny. Since our penny results in a loss, other denominations like dimes, and quarters, are produced at a cost lower than their face value, generating profit. So this profit helps offset the losses from penny production. So the overall seigniorage generated from the other denominations theoretically covers the cost of producing a negative value coin.
Even 30+ years ago when I lived overseas on military bases, change was not given in pennies on the base exchange as it was too expensive to ship them (as I was told). Instead your change was rounded to the nearest nickel.
As someone who is slightly invested just because I hope to see governments make logical decisions, I would like that to be the case but no the US is still making pennies
