Banks used to give away toasters to attract customers and they paid interest on deposits. Back in the day the amount of money banks could get was based on the number of deposits and the size of their deposits. Now it is all about their balance sheet.

I thought the number you cited was a magnitude off.

The coin production page of the Mint is fascinating.

https://www.usmint.gov/about/production-sales-figures/circulating-coins-production

They produced 7 billion pennies in 2019. This is because most people just put pennies in jars at home. Some people toss them out.

The Mint does not produce coinage for profit. They simply produce the number of coins that banks order. Coin production is a good guage for the health of the economy.

The page also tells us a lot about the effort to force the US into cashless society.

BTW. I told the only thing keeping the penny around is sales tax. Shop owners would love to get rid of pennies. They tend to round things to nickels in states that don't have sales tax.