A modern U.S. nickel currently costs about 14 cents to produce, nearly three times its face value of 5 cents.

Current minting cost

Recent data tied to the U.S. Mint’s 2024 figures puts the total cost per nickel at roughly 13.78 cents. One detailed breakdown notes that around 80% of that 13.78 cents comes from the metal and manufacturing process itself, meaning roughly 11 cents of materials and work go into each coin.

  • Face value: 5 cents.
  • Estimated 2024 production cost: about 13.78–14 cents per nickel.
  • The Mint has been producing nickels at a loss for many consecutive years because cost exceeds face value.

Why it costs so much

Modern nickels are made from a cupronickel alloy: about 75% copper and 25% nickel, the same basic alloy used for dimes and quarters. Rising prices for these metals, plus energy, labor, and overhead at minting facilities, push the cost per coin above its face value.

In 2024 alone, the Mint is reported to have lost tens of millions of dollars on nickel production because of this gap between cost and value. Some analysts and commentators now use the nickel—along with the penny—as an example in debates about whether the U.S. should change coin compositions or even retire certain low‑denomination coins.

Information gathered from public forums or data available on the internet and portrayed here.