Trump Announces Plan to Halt Penny Production
The saying “a penny for your thoughts” could soon become obsolete. That is because President Donald Trump has told Treasury Secretary Scott Bessent to stop making pennies because of production cost. “For far too long…
The saying “a Penny for your thoughts” could soon become obsolete.
That is because President Donald Trump has told Treasury Secretary Scott Bessent to stop making pennies because of production cost.
“For far too long the United States has minted pennies which literally cost us more than 2 cents,” Trump announced with a post on Truth Social. “This is so wasteful! I have instructed my Secretary of the US Treasury to stop producing new pennies. Let’s rip the waste out of our great nations budget, even if it’s a Penny at a time.”
The Penny has been under fire for years, with the movement to eliminate the Penny picking up steam last month after Elon Musk’s Department of Government Efficiency posted on X calling attention to the high cost of producing the single-cent coin.