Bottom line: The name "3-cent nickel" is confusing to modern society — this is not a nickel but a 3-cent coin, minted to provide an intermediate denomination between a penny and 5 cents.

Trump actually undersold the cost argument — pennies cost more than 3 cents to produce. But there’s a problem with his plan: Phasing out the penny could result in needing to make more nickels ...

The PR64 specimen sold via Heritage Auctions in 2014 for nearly $3.3 million ... “There was a nationwide shortage of cents and nickels in 1917 and 1918 that resulted in large output of these ...