Trump Orders Halt to Penny Production Over High Costs

The U.S. president argues that producing the one-cent coin is wasteful, citing its cost exceeding its face value.

Donald Trump has directed the U.S. Treasury Secretary to cease production of the penny, claiming it costs over two cents to produce each coin.
Elon Musk, leading a government efficiency commission, highlighted the penny's production costs, estimated to have wasted $179 million in taxpayer money in 2023.
The rising costs of zinc and copper, key materials in penny production, have further increased the coin's expense by 20% in 2024.
The decision echoes similar moves by countries like Canada, which discontinued its one-cent coin in 2012 for cost-saving reasons.
Any permanent halt in penny production may require Congressional approval, though the Treasury Secretary could act independently to implement the change.