Published 2 months ago • loading... • Updated 24 days ago

Trump Orders End to Penny Production Over High Costs

President Donald Trump has ordered the Treasury Department to stop minting new pennies due to rising production costs.
The production of one penny costs more than two cents, according to President Trump.
The U.S. Mint reported a loss of $85.3 million in the 2024 fiscal year on penny production.
A cost-cutting initiative led by Elon Musk highlighted the expense of producing pennies in a post on X.

Insights by Ground AI

Does this summary seem wrong?

387 Articles

All

Left

Center

132

Right

The Washington Post

Lean Left

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 retail stores, economists said.

2 months ago

Read Full Article

Fortune

Center

Donald Trump's penny proposal would eliminate 1 in 2 coins minted in the U.S.—but nickels are the real villains

The president says he’s killed off production of money-losing pennies, but nickels cost even more money to make—and we'd need more of them without pennies.

2 months ago·New York, United States

Read Full Article

Fox Business

Lean Right

Trump is ‘right’ to order the US to ditch the ‘stupid’ penny, Kevin O’Leary says

President Donald Trump is one cent away from scrapping the US penny and ‘Shark Tank’ star Kevin O'Leary is agreeing with him.

2 months ago·United States

Read Full Article

The GOP Times

Right

Treasury Throwing Away Money Before it's Even Produced

There’s one really simple step to save taxpayer money that anyone could have done for years but nobody did until now. President Donald Trump angers Democrats seven days a week, even on his way to the Superbowl. When pennies cost more to make than they’re worth, why are we still making them? That’s what a real president demands to know. We won’t be making them any longer. Nickles might be phased out next. Throwing money away The United States Tre…

2 months ago

Read Full Article

The Maine Wire

Right

Trump Nixes New Pennies to Save Millions

Does it make sense to get rid of cents? President Donald Trump ordered U.S. Secretary of the Treasury Scott Bessent to stop the production of new pennies on Monday as part of his campaign against government waste, citing the penny’s production cost, which exceeds its value. [RELATED: How the U.S. Treasury Department Helps Chinese Organized [...] The post Trump Nixes New Pennies to Save Millions appeared first on The Maine Wire.

2 months ago

Read Full Article

We Got This Covered

Center

Donald Trump wastes no time identifying his next enemy: the American penny

Since becoming President, Donald Trump has gone after everything from the trans community to USAID, and now he’s taking aim at… the penny? I’d say I’m surprised by this development, but so many shocking things have happened since Trump forgot to place his hand on that Bible that an attack on a coin somehow feels like his least controversial presidential maneuver. Anyway, the president announced on Sunday that he had instructed Treasury Secretary…

2 months ago

Read Full Article

Think freely.Subscribe and get full access to Ground NewsSubscriptions start at $9.99/year