President Trump Has Directed the US Treasury to Stop Minting New Pennies

Articles

Summary

The Penny Debate: Does Making Cents Make No Sense?

The U.S. Mint, which manufactures currency coinage by Congress’ authorization, produces pennies in Philadelphia and Denver, and the penny remains the highest share of coins minted.

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Yahoo!

Why US will soon become 'penniless'

President Trump said Sunday that he has instructed Treasury Secretary Scott Bessent to "stop producing new pennies."

Middle

Rediff.com India Ltd.

Donald Trump has ordered the Treasury to stop 'producing new pennies' as part of his latest measures to cut down on public spending The US Mint said it was the 19th year in a row production costs had been above face value.

Right

Daily Mail

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News Results

Trump is instructing the Treasury to stop making new pennies

President Donald Trump said on Sunday that he's ordered the Treasury to stop making new pennies. He called the production of pennies "wasteful" in a post on Truth Social. In 2023, pennies cost taxpayers $86 million, according to the US Mint.

LEFT

10m ago

Make no cents! Trump orders end to production of new pennies * WorldNetDaily * by Joe Kovacs

The cost of producing a single penny was nearly 3.7 cents in Fiscal Year 2024. The coin has cost above face value for 19 consecutive years. Before 1962, pennies were composed of copper, and are now made mostly of zinc. President Abraham Lincoln has been featured on the penny since 1909.

RIGHT

10m ago

Trump says he has directed US Treasury to stop minting new pennies, citing rising cost

The U.S. Mint reported losing $85.3 million in the 2024 fiscal year that ended in September on the nearly 3.2 billion pennies it produced. It is unclear whether Trump has the power to unilaterally eliminate the lowly one-cent coin. Currency specifications -- including the size and metal content of coins -- are dictated by Congress.

MIDDLE

8m ago

No More Pennies! Donald Trump Orders US Treasury To Stop Minting Coins, DOGE Chief Elon Musk Reacts

Donald Trump says the minting of pennies is a waste of money. A penny in the United States is 0.01 or a US Dollar. Trump has instructed his Secretary of the US Treasury to stop producing new pennies. The move has been criticized by many in the country.

MIDDLE

8m ago

Trump Orders U.S. Treasury to Halt Penny Production to Cut Costs - EconoTimes

The U.S. Mint reported that in 2024, the cost of making one penny was approximately 3.7 cents. Trump stated on Truth Social that producing a single penny costs more than its face value. The move aligns with Trump’s broader efforts to reduce the fiscal deficit and slash federal spending.

MIDDLE

9m ago

No more minting 'wasteful' pennies, Trump tells Treasury

US President Donald Trump tells Treasury Secretary Scott Bessent to stop minting one-cent coins. The move is described as a cost-cutting measure by Trump on his Truth Social account. The debate over the cost and usefulness of pennies has been a long-running one in the US.

LEFT

9m ago

Trump Says He Has Ordered Treasury To Stop Producing ‘Wasteful’ Pennies

President Donald Trump said he has ordered the Treasury Secretary to stop minting new pennies. He said the cost of production for the coin has been higher than its face value for nearly two decades. Trump suggested that it was a measure to cut down waste in the country’s budget “even if it's a penny at a time”

MIDDLE

9m ago

Trump Orders Scott Bessent To 'Rip The Waste Out,' Ends Penny Production After Elon Musk's DOGE Report

The U.S. Mint spent $179 million in taxpayer funds during the fiscal year 2023 to produce 4.5 billion pennies. Each coin costing 3.07 cents to manufacture – more than triple its face value. The decision comes after Elon Musk’s Department of Government Efficiency highlighted the economic inefficiency of penny production last month.

MIDDLE

10m ago

Donald Trump Tells US Treasury Secretary To Stop Minting New Pennies Citing Costs

The US Mint said in its 2024 annual report that it costs about 3.7 cents to produce and distribute a penny. The Elon Musk-led Department of Government Efficiency said in January that each penny costs more than 3 cents to make, costing US taxpayers about $179 million in 2023.

10m ago

Trump says he has directed Treasury to stop minting new pennies, citing cost

Trump says he has directed Treasury to stop minting new pennies. He cites the cost of producing the one-cent coin. Trump's new administration has been sharply focused on cutting costs. He sent the message after attending the first half of the Super Bowl in New Orleans.

MIDDLE

10m ago

12 Most Valuable Pennies in Circulation as Trump Stops Production

Donald Trump announces he will stop minting new one-cent coins. The move could drive up the value of rare in-circulation specimens. The U.S. Mint reported a loss of $85.3 million on the nearly 3.17 billion pennies it produced in the fiscal year ending September 2024.

LEFT

10m ago

Trump is instructing the Treasury to stop making new pennies

Trump, in his post on Truth Social, called the production of pennies "wasteful" "Let's rip the waste out of our great nations budget, even if it's a penny at a time," he wrote. Elon Musk's Department of Government Efficiency, or DOGE, criticized the costs of making pennies.

LEFT

10m ago

Trump says he has directed Treasury to stop minting new pennies, citing cost

Trump says he has directed Treasury to stop minting new pennies, citing cost. “For far too long the United States has minted pennies which literally cost us more than 2 cents. This is so wasteful!” Trump wrote in a post Sunday night on his Truth Social site.

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10m ago