Trump Orders Treasury to Halt Minting New Pennies to Cut Waste
President Trump said that the coins cost more to produce than their face value.
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President Trump said that the coins cost more to produce than their face value.
President Trump said the United States had been minting new pennies for “far too long.”Credit...Stephen Hilger/Bloomberg NewsFeb. 9, 2025Updated 10:37 p.m. ET
President Trump said on Sunday night that he had ordered the Treasury secretary to stop producing new pennies, a move that he said would help reduce unnecessary government spending.
“Let’s rip the waste out of our great nations budget, even if it’s a penny at a time,” he said in a post on Truth Social. He characterized the production of pennies, which “literally cost us more than 2 cents” each, as wasteful.
This is a developing story. Please check here for updates.
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