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So Long, Penny! Trump Orders US to Ditch 1-Cent Coin
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.
So long, penny! Trump orders US to ditch 1-cent coin after decades of complaints
President Donald Trump has ordered the U.S. to stop minting pennies. His surprise announcement comes after decades of unsuccessful efforts to phase out the 1-cent coin.
Trump’s plan to eliminate the penny follows sharp drop in U.S. coin demand at Philadelphia mint
Pennies make up more than half of the coins made at the Philadelphia mint, but coin demand has dropped by nearly 10 billion coins since 2021.
Trump wants to eliminate penny
How much does it cost to mint a penny? Trump orders end of penny production
The penny has been in the crosshairs of Trump officials since he took office. Last month, DOGE, the department run by Tesla and SpaceX CEO Elon Musk, said that producing 4.5 billion pennies in Fiscal Year 2023 cost taxpayers more than $179 million.
Donald Trump wants to eliminate the penny after the U.S. lost $85 million last year
President Donald Trump’s penny proposal aims to kill off the coin that costs more money to produce than it’s worth.
Trump Says No More Making Pennies. What That Means for You
But when President Donald Trump issued an order to stop minting the penny entirely, I couldn't help but wonder what role that humble copper-colored coin still plays in the US economy and what might actually change.
3h
Here’s a look at the history of the penny and why it could be going away
When the United States Mint was created in 1792, one of the first coins it made was the one-cent coin. The image on the first ...
8h
Without pennies, what becomes of penny loafers?
It was a question begging to be asked after President Trump ordered the U.S. Treasury to stop minting pennies: What would ...
1d
on MSN
'Makes sense': GOP, Dems unite behind Trump's plan to fire the penny
Democratic and Republican lawmakers spoke with Fox News Digital on Capitol Hill about whether they agree with President ...
2d
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 ...
2d
Few mourn the US penny as Trump moves to kill it
Nour Ismail, a cashier at the All-Star Deli & Grocery in Manhattan, says the handful of pennies tossed into the bodega's tip ...
8h
on MSN
Can the president really kill off the penny, and should he?
In the middle of Super Bowl LIX, President Donald Trump posted on social media that he was getting rid of the penny. Since ...
1d
on MSN
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 ...
Money Morning
1d
3 Penny Stocks You Haven’t Heard of With Massive Upside Potential
However, it is still profitable and growth is pretty good here. Revenue increased 23% year-over-year to $15.26 million and ...
12h
on MSN
Making cents of it all: Here's how much a penny costs you
The penny, whose face value is a modest 1 cent, cost about 3.7 cents to make last year. They aren’t the only expensive coin.
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Donald Trump
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