Trump Directs End to Penny Production, Sparking Economic and Political Debate

The decision to halt minting pennies, which cost more to produce than their value, raises questions about economic impact, legality, and job losses.

President Donald Trump announced the U.S. Treasury will stop minting pennies, citing production costs exceeding their face value as wasteful.
The U.S. Mint reported losing $85.3 million in fiscal year 2024 from producing pennies, which now cost 3.69 cents each to mint.
Critics argue that eliminating pennies could increase demand for nickels, which cost nearly 14 cents each to produce, potentially exacerbating losses for the U.S. Mint.
The decision could impact jobs in Greene County, Tennessee, where Artazn LLC, the sole supplier of penny blanks, employs over 330 people.
Legal experts are divided on whether Trump has the authority to unilaterally retire the penny, with Congress typically overseeing currency changes.