February 10, 2025 - 08:52
President Donald Trump has announced that he has instructed the Treasury Department to cease the minting of new pennies, highlighting the financial burden associated with producing the one-cent coin. In his statement, Trump emphasized the need for fiscal responsibility, saying, “I have instructed my Secretary of the US Treasury to stop producing new pennies.”
This move aligns with the broader agenda of the Trump administration, which has been keen on reducing government expenditures. The administration's strategy involves not only cutting costs but also streamlining various federal agencies. The decision to halt penny production reflects a growing concern about the efficiency of the U.S. currency system, as the cost of producing pennies has often exceeded their actual value.
As the administration continues to seek ways to cut spending, this directive may signify a shift in how the government approaches coinage and its associated costs, potentially leading to further discussions about the future of low-denomination coins in the economy.
