Citing rising cost, Trump directs US Treasury to stop minting new pennies

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Citing rising cost, Trump directs US Treasury to stop minting new pennies - Business Standard

Quick Summary:

President Donald Trump says he has directed the Treasury Department to stop minting new pennies, citing the rising cost of producing the one-cent coin.

The move by Trump is the latest in what has been a rapid-fire effort by his new administration to enact sweeping change through executive order and proclamation on issues ranging from immigration, to gender and diversity, to the name of the Gulf of Mexico.

But Elon Musk's so-called Department of Government Efficiency raised the prospect in a post on X last month highlighting the penny's cost.