Donald Trump orders US Treasury Dept to stop production of pennies
US President Donald Trump has announced that Washington DC will stop minting pennies, citing their high production cost, which exceeds their face value and termed the practice “wasteful”. Trump made this announcement on Sunday in a post on Truth Social after attending the first half of the Super Bowl.
In his post, Trump wrote, “For far too long, the United States has minted pennies which literally cost us more than 2 cents. This is so wasteful!” He further stated, “I have instructed my Secretary of the US Treasury to stop producing new pennies. Let’s rip the waste out of our great nation’s budget, even if it’s a penny at a time.
Source Financial Express