Trump Puts the Penny on Notice: The Fuss Over Our 1-Cent Coin

US Mint ships 3.2 billion pennies in 2024, a local coin expert weighs in

The US Mint says 3.2 billion pennies were shipped last year, accounting for 54% of all new change. For coin collectors like Jock Summers, its a downright nuisance.They're kind of annoying for collectors, really, Summers said. They're just a pain. They're in everybody's couches, they're in everybody's drawers, and they really don't have a whole lot of value in hardly any of the dates.President Trump announced in a Truth Social post last week that…

Analysis: Trump announced he is getting rid of the penny. What are the consequences?

The government makes pennies at a loss, but just stopping production could create new problems.

The US could ditch the penny: What happened when Canada did it?

(NEXSTAR) — Weeks after the Department of Government Efficiency (DOGE) set its sights on the penny, President Donald Trump called on the Treasury Department to stop minting new one-cent coins, calling them “wasteful.” The most recent report from the U.S. Mint shows it costs roughly 3.69 cents to make one penny. Fiscal year 2024 marked the 19th consecutive year that the penny (and the nickel) “remained above face value” when it comes to productio…

Will prices be affected by Trump removing penny from circulation? Economists weigh in

President Donald Trump said he directed the U.S. Treasury Department to stop manufacturing pennies, citing rising costs. “For far too long the United States has minted pennies which literally cost us more than 2 cents,” the president said in a Feb. 9 post on Truth Social, announcing the new policy. “This is so wasteful!” It is true. In its 2024 annual report, the U.S. Mint said it spent $0.0369 to produce one penny, making its production cost mo…

Trump Puts the Penny on Notice: The Fuss Over Our 1-Cent Coin

The president isn't the first person to call for an end to the penny, and this issue is deeper than wasteful spending.

President Trump orders the end of ‘wasteful’ penny production

President Donald Trump announced his plans to cease production of the penny via his Truth Social account on Feb. 9. Truth Social is a social media platform launched by Trump following his ban from X, formerly known as Twitter. Trump has instructed the United States Treasury Secretary Scott Bessent to end the production of the one-cent coin. Since 1909, the penny has sported the likeness of Abraham Lincoln, the 16th president of the United States…