Goodbye to this classic US coin: This the reason why Donald Trump wants to stop minting new pennies
Donald Trump isn’t the first to dream about getting rid of lowest denomination US coin, nor is the US the only country to see a one cent coin as senseless.
Trump's plan to scrap the penny spikes interest for coin collectors
Every penny costs 3.7 cents to manufacture and the U.S. Treasury lost $85.3 million in 2024 producing them, the U.S. Mint reported. Congress sets currency specifications, so it's unclear whether Mr. Trump has the power to eliminate the penny, but the president might be able to stop the Treasury from minting them.
How much does it cost to mint a penny? Trump orders end of penny production
The penny has been in the crosshairs of Trump officials since he took office. Last month, DOGE, the department run by Tesla and SpaceX CEO Elon Musk, said that producing 4.5 billion pennies in Fiscal Year 2023 cost taxpayers more than $179 million.
Does Trump’s penny plan make cents? How ditching the hated coin would affect consumers
On Sunday, Trump says he instructed Treasury Secretary Scott Bessent to cease production of the penny to further the goal of reducing unnecessary government spending. “For far too long the United States has minted pennies which literally cost us more than 2 cents.
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.
Trump orders Treasury to stop minting pennies: How much does it cost to mint a penny?
Trump orders Treasury to stop minting pennies. How much copper is in a penny? Here's how much it cost to mint a penny.
President Trump orders penny to stop being minted, U.S coin museum & Governor weigh in
President Donald Trump has ordered the production of U.S pennies to stop as of Sunday night. Now, Governor Jared Polis,
How Trump might get rid of the penny — and what could come next for your pocket change
Trump said he wants the Treasury Department to stop minting pennies because of their high manufacturing costs.
Penny for your thoughts? Trump orders US Mint to stop making 1-cent coin. What to know
The U.S. Mint said in fiscal 2024, it took about 3.69 cents to produce and distribute one penny, a 20.2% increase from 2023.
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United States Mint Announces Release of Fifth and Final Coin in Platinum Proof Series Celebrating Five Freedoms of the First Amendment
Launched in 2021 and continuing through 2025, the First Amendment to the United States Constitution Platinum Proof Coin ...
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A Penny Spurned: Does the Lesser Coin Still Make Sense?
The penny’s fate remains uncertain. No executive order has been published regarding the president’s penny directive, and the ...
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No more pennies? Alliance coin shop owner says it should have been done years ago
Jerry Petros, the owner of Alliance Coins and Jewelry in Alliance, said the U.S. should have dumped pennies years ago.
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Mint ordered to stop making pennies
President Donald Trump says he has directed the Treasury Department to stop minting new pennies, citing the rising cost of ...
How much does it cost to make a penny, and are we ‘losing’ money on other coins?
Per the latest U.S. Mint report, it costs less than six cents to make a dime ($0.0576). To make a quarter, it cost about 15 cents ($0.1468), and nearly 34 cents for a half-dollar ($0.3397).