Trump Ends Penny Production, Citing Costly Government Waste and Outdated Currency. (Photo by Mario Tama/Getty Images)
(EPICSTORIAN) – President Donald Trump has directed the U.S. Treasury to halt the production of new pennies, arguing that the cost of making them is greater than their actual value.
The move is part of his administration’s plan to cut unnecessary government spending.
Speaking on the decision, Trump said:
“It costs more to make a penny than it’s worth. We are stopping production to cut waste and focus on real economic priorities.”
Cost of Minting Pennies
Each penny, which features Abraham Lincoln’s profile, costs about 2.72 cents to produce—more than twice its face value. Economists and policymakers have debated the relevance of the coin for years, with some arguing that phasing it out would streamline transactions and reduce government expenses.
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The announcement has drawn mixed reactions. Some lawmakers and business owners worry that eliminating the penny could create rounding issues in cash transactions. Others see it as a step toward modernizing the economy, especially as digital payments continue to grow.
The Treasury is expected to release further details on the policy change, including how it will impact existing coin circulation. For now, Americans will have to consider a future without the country’s smallest denomination.
