Stop Minting New Pennies – Trump Directs US Treasury

United States President Donald Trump announced on Sunday that he has directed the Treasury to halt the production of new penny coins.

He stated that the move is aimed at reducing government spending.

“For far too long the United States has minted pennies which literally cost us more than 2 cents. This is so wasteful!” Trump wrote on his Truth Social platform as he returned to Washington from the Super Bowl.

“I have instructed my Secretary of the US Treasury to stop producing new pennies.

“Let’s rip the waste out of our great nations budget, even if it’s a penny at a time,” he added.

The one-cent coin, commonly known as the penny, was first introduced by the federal government in 1793.

The proposal to eliminate pennies was a key part of Trump’s election campaign.

Elon Musk’s Department of Government Efficiency (DOGE) had previously raised concerns about the cost of production in a post on X last month.

According to reports, the United States Mint incurred a loss of $85.3 million in the 2024 fiscal year, which ended in September, due to the production of nearly 3.2 billion pennies.