Trump urged the US Treasury to stop minting new pennies.

 

The Treasury has been instructed by United States President Donald Trump to stop producing new penny coins.

 

According to Trump, the decision will help to reduce 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 nation's budget, even if it’s a penny at a time,” he added.

In 1793, the federal government introduced the one-cent coin, also known as a penny.

 


However, the issue of eliminating pennies was part of Trump's election campaign.

 

In a post on X last month, Elon Musk's Department of Government Efficiency, DOGE, highlighted the potential in a post about X.

 

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