“For far too long the United States has minted pennies which literally cost us more than 2 cents,” the president said in a Truth Social post on Sunday night as he left the Super Bowl in New Orleans.
“The penny costs over 3 cents to make and cost US taxpayers over $179 million in FY2023,” said Doge, adding that 4.5bn pennies were produced in that fiscal year.
Trump tells treasury to end ‘wasteful’ production of pennies President says minting of low-denomination one-cent coins costs more than their face value, echoing Elon Musk.
Donald Trump has ordered the US treasury to stop minting new pennies, calling the coins’ production “wasteful”.
While Trump did not mention the elimination of the penny in his campaign, Elon Musk’s controversial “department of government efficiency” (Doge) called attention to the cost of making the coin in a post to X in January.
