Source: United Press International
“President Donald Trump late Sunday said he has directed the secretary of the Treasury to stop producing new pennies. ‘For too long the United States has minted pennies which literally cost us more than 2 cents. This is wasteful!’ he said in a post to his Truth Social media platform. … During the last fiscal year, the U.S. Mint circulated nearly 3.2 billion pennies, reporting a loss of $85.3 million, which is a slight decrease from the $86 million it lost in the penny a year prior. Meanwhile, a single penny last year cost the mint $0.037 to make, up from $0.0307 in 2023 and $0.027 in 2022. According to the U.S. Congressional Service, studies have found that only only one-third of pennies circulate.” (02/10/25)
https://www.upi.com/Top_News/US/2025/02/10/Trump-eliminates-penny/4041739164211/