President Trump Ends Penny Production Amid Cost Concerns

The decision to halt penny minting reignites debates over the coin's economic value, symbolism, and the future of U.S. currency.

President Donald Trump has directed the U.S. Treasury to stop producing pennies, citing their high production cost of 3.69 cents per coin.
Supporters of the move argue that eliminating the penny could save taxpayer money and streamline cash transactions, as seen in other countries like Canada and Australia.
Critics highlight the penny's symbolic value, referencing its ties to Abraham Lincoln and its representation of American ideals such as diversity and unity.
Retailers may play a pivotal role in phasing out penny use by rounding cash transactions to the nearest five cents, a practice already implemented by some businesses and the U.S. military overseas.
The decision has sparked broader conversations about modernizing U.S. currency, including redesigning the nickel and introducing higher-denomination bills to address inflation and evolving payment systems.