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.
Insight: Trump says he has directed US Treasury to stop minting new pennies, citing rising cost
President Trump says he directed the Treasury Department to stop minting new pennies. He says the cost of producing the one-cent coin is too high. Last year the U.S. Mint reported losing more than 85 million dollars on the nearly 3.
Trump Orders End to Penny Production—Can He Actually Do It?
In a bold move to reduce government spending, Trump ordered an end to penny production, citing the rising cost of minting the coin. President Donald Trump announced that he has ordered the U.S. Treasury to cease production of the penny,
'So wasteful' | Trump calls for the end of pennies
President Donald Trump announced on social media platform Truth Social he has directed the Treasury Department to stop producing new pennies.
Trump’s proposition to eliminate pennies leaves business owners scratching their heads
President Trump Sunday announced possible plans to get rid of the penny. But this longstanding form of currency has been ...
Trump promised no new pennies — here’s how that would work
The president could promptly end the production of new pennies, but phasing out the coin would take time and mean changes at ...
Making change: Trump tells US Treasury to stop making pennies. What if we drop the penny?
President Trump said he wants the U.S. Treasury to stop making pennies. Can he do a penny drop? Does it need Congressional ...
Is eliminating the penny a good idea? Other countries have already done it
President Donald Trump has ordered the U.S. Treasury to stop minting the penny, reviving the debate over the future of ...
12 Most Valuable Pennies in Circulation As Trump Stops Production
The president's halt on "wasteful" penny production could cause the value of the rarest one-cent coins to surge.
A penny for their thoughts: Americans say ‘time to move on’ from the coin
President Trump ordered the Treasury department to stop production of pennies. Here's how Americans are responding to the ...
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 ...
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How could the halt on pennies affect collectors?
President Trump has ordered the Treasury Department to halt the production of pennies. He argues that this is because copper coins are costly and no longer necessary. The ...
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No more pennies? Alliance coin shop owner says it should have been done years ago
Jerry Petros, the owner of Alliance Coins and Jewelry in Alliance, said the U.S. should have dumped pennies years ago.
Common 'cents': Long Island businesses 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.
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How much does it cost to make a penny, and are we ‘losing’ money on other coins?
President Donald Trump on Sunday said that he had asked the Treasury Department to stop minting new pennies, calling them “wasteful.” “For far too long the United States has minted pennies which ...