Is the US going 'penniless'? Why Trump wants to halt production of the coins
Donald Trump has ordered the US Treasury to stop minting new pennies, citing that each one-cent coin costs 3.69 cents to produce — leading to an $85.3 million loss in 2024 alone. The move follows a push by Elon Musk’s Department of Government Efficiency and mirrors similar decisions in Canada and Europe.
EDITORIAL | A Penny Saved? Trump's plan to get rid of the cent makes a lot of sense
It's not clear if Trump has the power to simply do away with the penny. The Constitution gives Congress control of currency and coinage. But neither the House or Senate -- both controlled by the GOP -- has shown any inclination to go against the president on, well, anything he wants. So it's probably last call for the copper.
Al Jazeera on MSN5h
Why is Donald Trump discontinuing the penny?The one cent coin costs more to produce than its value and is nearly obsolete in retail. But it has its supporters.
The president's halt on "wasteful" penny production could cause the value of the rarest one-cent coins to surge.
Lohud.com, Westchester County on MSN1d
Trump wants the U.S. to stop producing pennies. Would it make sense to do so?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 Truth Social.
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