President Trump has ordered that penny production is to be ceased. He reasons that the production cost is almost four times its actual worth.
During his presidency, Trump said he was looking to curb wasteful government spending. This order is part of a larger initiative to cut government spending.
The U.S. Mint reported a loss of $85.3 million in 2024 on penny production alone. This topic has garnered a lot of attention causing people to take a look at the nickel, and it’s even more expensive at 13 cents each to produce.
So who knows, we may see the nickel go next!?