*US President Donald Trump asserts the directive is significant, stating ‘for far too long the United States has minted pennies which literally cost us more than 2 cents. This is so wasteful!’

Alexander Davis | 绿帽献妻

United States (US) has directed the American country’s Treasury to stop producing penny coins.

绿帽献妻 gathered President Donald Trump, who stated this Sunday, February 9, 2025, noted the move is part of an effort at cutting down on government spending.

Trump wrote on his Truth Social media platform.

He also explained: “For far too long the United States has minted pennies which literally cost us more than 2 cents. This is so wasteful!

鈥淚 have instructed my Secretary of the US Treasury to stop producing new pennies.

“Let鈥檚 rip the waste out of our great nations budget, even if it鈥檚 a penny at a time.”

The so-called Department of Government Efficiency 鈥� a cost-cutting initiative, led by billionaire Elon Musk that has helped to slash Federal spending 鈥� highlighted the cost of producing pennies in a post on X January this year, agency report said.

It is also noted that debates about the production cost of pennies are not new in the United States, with several bills having been introduced in Congress that have failed to pass.

Trump鈥檚 order would likely require lawmakers鈥� approval but Treasury Secretary Scott Bessent may be able to simply stop the minting of new pennies, economics professor Robert Triest of Northeastern University wrote January.

Prices would likely be rounded to the nearest five Cents if pennies are removed, Triest said.

It is recalled that Canada, in 2012, had announced that it was eliminating pennies from its coinage system, citing a production cost of 1.6 Cents each, and its falling purchasing power because of inflation.

Trump has made cutting the Federal budget a prominent part of his new administration, with Musk鈥檚 DOGE team being tasked with investigating government spending.

However, the legality of some of the administration鈥檚 efforts 鈥� including slashing the US Agency for International Development鈥檚 (USAID) headcount 鈥� has been challenged in court by Democrats and labor unions, according to report.