Mon Feb 10 06:12:44 UTC 2025: ## Trump Orders Halt to Penny Production, Sparking Debate Over US Currency
**Washington, D.C. – February 10, 2025** – President Donald Trump has directed the Treasury Department to cease production of new pennies, citing the rising cost of minting the one-cent coin. This announcement, made Sunday night on Truth Social, follows a report showing the U.S. Mint lost $85.3 million in the 2024 fiscal year on penny production alone, with each penny costing nearly $0.037 to produce.
Trump’s decision is the latest in a series of sweeping executive actions aimed at cost-cutting, spearheaded by Elon Musk’s Department of Government Efficiency. While the move has been praised by some as a necessary measure to address wasteful spending, questions remain regarding the legality of unilaterally eliminating the penny. Currency specifications are typically determined by Congress.
Robert K Triest, an economics professor at Northeastern University, suggests that while an act of Congress would likely be required for a complete elimination, the Treasury Secretary may have the authority to halt production. Similar legislation has been introduced in Congress over the years, proposing temporary suspensions, complete elimination, or rounding prices to the nearest five cents.
The potential elimination of the penny mirrors similar actions taken by other countries, including Canada, which discontinued its one-cent coin in 2012. Proponents of the move highlight potential cost savings, faster checkouts, and alignment with international practices. However, the long-term economic implications and the legal process involved remain points of contention. This latest action from the Trump administration, taken while he was watching the Super Bowl, is part of a broader effort to identify $2 trillion in budget savings.
First Piper 