Trump Orders Halt to Penny Production

story

FEB 10

Above: US Pres. Donald Trump has ordered the treasury to stop making pennies. Image copyright: Tim Boyle/Staff/Getty Images News via Getty Imagesstory last updated FEB 11

The Facts

US Pres. Donald Trump on Sunday night announced that he has instructed Treasury Secretary Scott Bessent to cease production of pennies, writing that minting "is so wasteful."
The US Mint's 2024 annual report said each penny costs 3.69 cents to manufacture and distribute, marking the 19th consecutive fiscal year the production cost has exceeded its face value.
The US Mint lost $85.3M producing pennies in fiscal year 2024, with the one-cent coin accounting for 54% of the 5.87B coins produced during this period.

The Spin

Republican narrative

This continues the fulfillment of Trump's campaign promise to have DOGE cut wasteful expenditures. But this is also one of the President's most bipartisan ideas, as figures on both sides of the political spectrum over the years have lamented the high cost of minting pennies.

Breitbart Daily Caller

Democratic narrative

While some may consider this a reasonable proposal at first, it's quite clear that the Constitution granted the power to mint currency to Congress, not the president. In addition, stopping penny minting sadly won't be as cost-saving as some would have you believe.

New York Times MSNBC