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.
Trump Orders Treasury to Halt Minting New Pennies to Cut Waste

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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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