Trump Orders End to Penny Production, Citing Cost Inefficiency

The decision, driven by cost-cutting efforts, faces pushback from industry advocates and concerns about job losses and inflation.

President Trump announced plans to halt the production of pennies, citing their high production cost of 3.69 cents per coin as wasteful.
The move is part of a broader initiative by the Department of Government Efficiency to reduce federal spending.
Critics, including Americans for Common Cents, argue that eliminating the penny could lead to job losses in Tennessee and North Carolina and increased costs due to higher nickel production.
Experts suggest the impact on consumers would be minimal, with cash transactions likely rounded to the nearest nickel, similar to practices in countries like Canada and Australia.
Supporters of the decision highlight environmental benefits and potential savings, while opponents warn of unintended consequences, such as inflationary effects and disruptions to pricing systems.