The U.S. Mint cut the cost of making the penny by nearly a third over the past two years, but the little copper-coated coin still costs more than a cent to produce.

A new report shows the cost to produce a penny was 1.7 cents in the 2014 fiscal year. That's down from 2.4 cents in 2011 but still more than face value.

And that won't change.

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