Trump Announces Direction to Treasury to Halt Production of New Pennies
“For too long, the United States has been minting pennies that cost us more than 2 cents each,” the president remarked.
On Sunday, President Donald Trump announced that he has instructed the Treasury Department to cease the production of pennies, pointing out the substantial expense involved in creating the one-cent coin.
“For too long, the United States has been minting pennies that literally cost us more than 2 cents. This is such a waste!” Trump stated in a post on Truth Social.
“I have directed my Secretary of the U.S. Treasury to halt the minting of new pennies. Let’s eliminate waste from our great nation’s budget, even if it’s just one penny at a time.”
The Trump administration has emphasized cutting federal expenditures by focusing on various federal agencies and reducing workforce numbers, with the exception of those fulfilling critical functions.
Introduced in 1792, pennies were originally made of copper. Nowadays, they are composed of copper and zinc, showcasing the likeness of President Abraham Lincoln since 1909, as per the information provided by the Treasury Department.
