The lowly penny, the forgotten mainstay of coin jars and car cupholders everywhere, may soon be no more. President Donald Trump announced Sunday he’s ordered his administration to cease production of the 1-cent coin,

Donald Trump has declared on his Truth Social platform on Sunday that he wants to cease production of the U.S. penny, writing that he has already "instructed" the Treasury Department to do so.

US President Donald Trump has ordered a halt to the minting of pennies, the coins denoting a cent of the dollar, over high production costs. The minting cost of India's Re 1 coin is also more than its face value.

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President Donald Trump said he wants to end the production of pennies, calling them “wasteful.” Each coin costs 3.7 cents to produce.

President Donald Trump’s order Sunday night to stop minting billions of pennies annually potentially comes with some unexpected costs.

President Trump says he has directed the Treasury Department to stop minting new pennies, citing the rising cost of producing the one-cent coin."For far too long the United States has minted pennies which literally cost us more than 2 cents.

The US Mint reported losing $85.3 million in the 2024 fiscal year that ended in September on the nearly 3.2 billion pennies it produced.