The five gram five cent piece now mostly consists of copper and costs 10.4 cents to produce, according to the US Mint’s 2022 Biennial Report to Congress, released last week.

Despite the nickel name, the coin contains 25% nickel and 75% copper. During a period of 1942 to 1945, there was no nickel contained in the U.S. nickel.

Cost of the nickel Each nickel costs nearly 14 cents ($0.1378) to make and distribute. That price tag is nearly triple the five-cent coin’s buying power today.

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"The one and two cent coins went [because of inflation in the early 1990s] and the sun came up the next day, but there's no current consideration to scrap the five cent coin," he added.

The five-cent coin previously sold at auction for over $3.17 million in 2013, according to the auction house. Close up of many different type of coins with jar ...

However, nickels also boast high production costs; each five-cent coin costs the U.S. Mint 13.78 cents to make.