When the production cost of a currency unit exceeds its face value, it indicates broader currency devaluation and monetary system inefficiency, as demonstrated by the US penny costing 3.07 cents to produce while being worth only 1 cent.
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It cost the US government 3.07 cents to produce a single penny worth 1 cent.
They're literally losing money making money, spending three times the value of the coin to mint it. And they keep doing it anyway because admitting the penny is worthless means admitting what happened to the currency. When your smallest unit of account costs more to make than what it's worth, tells you everything you need to know about happened to the rest of
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