Trump Proposes Ending Penny Production to Save Money
In a recent announcement, President Donald Trump has called for an end to the production of pennies, highlighting their increasingly unnecessary cost. He pointed out that it currently costs more to make a penny than it is worth, with each penny costing approximately 3.69 cents to produce.
On Truth Social, Trump stated, "For too long, the United States has minted pennies which literally cost us more than 2 cents. This is so wasteful! I have instructed my Secretary of the U.S. Treasury to stop producing new pennies." He emphasized the need to eliminate waste from the nation’s budget, even if that means saving money "a penny at a time."
This move is part of Trump’s broader strategy aimed at reducing government spending since taking office. He has been vocal about the importance of responsible budgeting and making fiscal decisions that benefit American taxpayers.
Led by entrepreneur Elon Musk, the Department of Government Efficiency (DOGE) recently pointed out that penny production costs American taxpayers tens of millions of dollars every year. Musk’s department suggested that eliminating the penny is one potential solution, noting that it costs taxpayers $119 million just to produce the pennies during the 2024 fiscal year.
The U.S. Mint, which has been producing pennies since its founding in 1792, reported that this year marks the 19th consecutive year where the cost of producing pennies has exceeded their face value. Originally, the penny was made of pure copper; today, it is mainly composed of zinc.
Trump’s proposal reflects a common-sense approach to government spending, advocating for efficiency and the responsible use of taxpayer dollars. As discussions about budget cuts and fiscal responsibility continue, many Americans are watching closely to see how this initiative unfolds.
