“For far too long the United States has minted pennies which literally cost us more than 2 cents. This is so wasteful! I have instructed my Secretary of the US Treasury to stop producing new pennies. Let’s rip the waste out of our great nations budget, even if it’s a penny at a...
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. This is so wasteful!" Mr. Trump wrote in a po...
The U.S. Mint reported losing$85.3 million in the 2024 fiscal year that ended in September on the nearly 3.2 billion pennies it produced. Every penny cost nearly $0.037 — up from $0.031 the year before. The mint also loses money on the nickel, with each of the $0.05 coins ...
The U.S. Mint reported losing$85.3 million in the 2024 fiscal year that ended in September on the nearly 3.2 billion pennies it produced. Every penny cost nearly $0.037 — up from $0.031 the year before. The mint also loses money on the nickel, with each of the $0.05 coins costing ne...
Trump orders end to penny minting On Sunday, President Trump announced that he had ordered the Treasury Department to stop minting new pennies. “For far too long the United States has minted pennies which literally cost us more than 2 cents,” Trump wrote on Truth Social. “This is so was...
Many economistshave calledfor the U.S. to stop manufacturing the penny, which for years has cost more to produce than it is worth. Trump's cost-cutting task force, theDepartment of Government Efficiency (DOGE), has estimated that the Mint loses at least $100 million annually on pennies. ...
The U.S. Mintreported losing$85.3 million in the 2024 fiscal year that ended in September on the nearly 3.2 billion pennies it produced. Every penny cost nearly $0.037 — up from $0.031 the year before. The mint also loses money on the nickel, with each of the $0...
United States Department of the TreasuryWill famous penny sayings outlast the coin itself? The Treasury Department said it plans to stop manufacturing the penny, calling time on one of the first coins minted by the U.S. government. "CBS Evening News" co-anchor Maurice DuBois takes a look ...
Trump had not discussed his desire to eliminate the penny during his campaign. 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. The U.S. Mint reported losing $85.3 million in th...
Trump had not discussed his desire to eliminate the penny during his campaign. 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. The U.S. Mint reported losing $85.3 million in the 2024 fiscal year ...