Former U.S. President Donald Trump has reportedly instructed the Treasury Secretary to stop minting new pennies, citing the coin’s production cost exceeding its face value. Trump called the continued minting “so wasteful,” pointing out that each penny costs over 2 cents to produce.
The move aligns with ongoing debates about the relevance of the penny in modern transactions, with many arguing that it no longer serves a practical purpose. Several economic experts have long pushed for its elimination, noting that rounding prices to the nearest five cents could save the government millions annually.
Opponents of the decision argue that the penny remains symbolically significant and plays a role in cash transactions, particularly for low-income individuals. However, supporters believe the halt in production could help streamline currency circulation and cut unnecessary federal spending.
As discussions continue, this latest directive adds to Trump’s long history of challenging traditional economic policies, sparking renewed debate over the future of small-denomination U.S. currency.
