Trump Orders Treasury to Halt Penny Production Over Rising Costs

President Donald Trump has announced a major policy shift regarding U.S. currency, stating that he has directed the Treasury Department to stop minting new pennies. In a social media post Sunday night, Trump cited the rising cost of production, pointing to the U.S. Mint’s reported $85 million loss last year on nearly 3.2 billion pennies.

Each penny costs just under four cents to produce, making it a financial burden for the government. The move is part of an effort to cut unnecessary costs, though it remains uncertain whether Trump has the authority to eliminate the penny outright. Under current law, currency specifications—including the size and metal content of coins—are determined by Congress.

While the decision may spark debate over the future of the one-cent coin, experts say any official phase-out would likely require legislative approval. For now, the directive raises questions about the potential impact on everyday transactions and whether other denominations could face similar scrutiny in the future.