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.
End of the penny? Trump tells Treasury to stop minting the coin
President Trump ordered the U.S. Treasury to stop minting pennies, citing wastefulness. The price of producing a single penny continues to rise, and it now costs almost 3.7 cents to produce a penny, up from 3.
Trump says the penny costs too much, orders Treasury to stop making them
The United States has moved into new and uncharted territory after President Donald Trump ordered the U.S. Mint to stop striking the lowly penny. Trump was attending the Super Bowl on Sunday night when he took to his Truth Social media platform to declare that the days of the 1-cent copper-colored coin had come to an end.
Trump says he has directed US Treasury to stop minting new pennies, citing rising cost
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. Trump wrote in a post Sunday
Local coin shop reacts to President Trump's order to stop minting new pennies
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.Ina post on his Truth Social
Trump Says Minting U.S. Pennies Is ‘Wasteful.’ Does Making Cents Really Make No Sense?
“For far too long the United States has minted pennies which literally cost us more than 2 cents,” Trump posted on his social ...
Trump wants to scrap pennies. What does that mean for the copper industry?
The Lincoln one-cent coin could be scrapped, with Trump ordering the Treasury Department and U.S. Mint to stop producing the ...
Trump's order to scrap the penny doesn't make 'cents': Expert
As part of his plan to cut alleged federal government waste, President Donald Trump has ordered the end of the penny.
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Trump Says No More Making Pennies. What That Means for You
"For far too long the United States has minted pennies, which literally cost us more than 2 cents," Trump wrote in a post to ...
Common 'cents': Long Island biz interests like Trump's plan to end penny production
"It can be a nuisance," an East Meadow diner manager said of trying to locate pennies to make change for customers.
It takes nearly 4 cents to make a single penny. Here's why Trump wants them gone.
Trump says he'll order the Treasury Department to halt penny production to save money. Costly nickels, however, could cancel out savings.
Donald Trump’s penny proposal would eliminate 1 in 2 coins minted in the U.S.—but nickels are the real villains
The president says he’s killed off production of money-losing pennies, but nickels cost even more money to make—and we'd need ...
It costs nearly four cents to make one penny. The nickel costs even more
President Donald Trump said he’s instructed the Secretary of the US Treasury to stop making new pennies, writing that they “literally cost us more than 2 cents.” He’s right — in fact, each US penny ...
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Two Cents: What Tulsans think about halting penny production
President Trump announced he's instructed the U.S. Treasury to stop producing new pennies due to the cost. Tulsans react to possible currency change.
Penny Pinching? Here's How Much It Costs to Mint a Cent
That's how much it cost the U.S. Mint to make a one-cent coin last year, up from 2.1 cents in 2021. In fact, the agency lost $85.3 million last year on the pennies it produced. But scrapping them ...