President Donald Trump says he has directed the Treasury Department to stop minting new pennies, citing the rising cost of producing the one-cent coin.
“For far too long the United States has minted pennies which literally cost us more than 2 cents. This is so wasteful!” Trump wrote in a post Sunday night on his Truth Social site. “I have instructed my Secretary of the US Treasury to stop producing new pennies.”
The move by Trump is the latest in what has been a rapid-fire effort by his new administration to enact sweeping change through executive order and proclamation on issues ranging from immigration, to gender and diversity, to the name of the Gulf of Mexico.
Trump had not discussed his desire to eliminate the penny during his campaign. But Elon Musk's so-called Department of Government Efficiency raised the prospect in a post on X last month highlighting the penny's cost.
The U.S. Mint reported losing $85.3 million in the 2024 fiscal year that ended in September on the nearly 3.2 billion pennies it produced. Every penny cost nearly $0.037 — up from $0.031 the year before.
Read Full Article Here
Trump says he has directed US Treasury to stop minting new pennies, citing rising cost
- by: JILL COLVIN – Associated Press
- 02.10.25
- Source:
Dayton Daily News
- 02/10/2025
Donald Trump by is licensed under flickr https://creativecommons.org/licenses/by-sa/2.0/
Donald Trump by is licensed under flickr https://creativecommons.org/licenses/by-sa/2.0/
Follow us
Read our latest news on any of these social networks!
Get latest news delivered daily!
We will send you breaking news right to your inbox
Have a tip? Let us know!
Recent Articles
- by: MARK SHERMAN
- Source:
Dayton Daily News
- 04/18/2025
Supreme Court keeps hold on Trump’s restrictions on birthright citizenship but sets May arguments
The Supreme Court is keeping a hold on President Donald Trump’s restrictions on birthright citizenship but will hear arguments on the issue in May
- by: John T. Bennett
- Source:
Roll Call
- 04/18/2025
Trump puts Italy’s Meloni in high-pressure role as bridge to EU on tariffs
“America first” met “Italy and Italians first” on Thursday at the White House, with tariffs atop the agenda as President Donald Trump huddled with Italian Prime Minister Giorgia Meloni — suddenly a key European leader who could help close the trans-Atlantic trade chasm.
- by: Jennifer Peltz
- Source:
US Daily Press
- 04/18/2025
Ex-NYPD officer sentenced to 18 months after conviction for helping China stalk an expat
Michael McMahon was convicted in 2023 of contributing to a transcontinental pressure campaign; the tactics ranged from Facebook messages to a threatening note on the man’s door
- by: Associated Press
- Source:
NY Post
- 04/17/2025
Puerto Rico hit with massive island-wide blackout ahead of Easter weekend
An island-wide blackout hit Puerto Rico on Wednesday as the largely Catholic residents of the U.S. territory prepared to celebrate the Easter weekend, officials said.