Trump Says He Has Directed Treasury to Stop Making New Pennies

‘For far too long the United States has minted pennies which literally cost us more than 2 cents,’ the president stated.

A man shows a handful of U.S. 1-cent coins in Washington on July 18, 2006. With the prices of zinc and copper going through the roof, the smallest U.S. denomination is now worth more as a commodity than as a currency. Jim Watson/AFP via Getty Images

President Donald Trump said on Feb. 9 that he has directed the Department of the Treasury to stop minting pennies, citing the high cost of producing the 1-cent coin.

“For far too long the United States has minted pennies which literally cost us more than 2 cents. This is so wasteful!” Trump wrote in a Truth Social post.