Trump's plan to scrap the penny spikes interest for coin collectors
Every penny costs 3.7 cents to manufacture and the U.S. Treasury lost $85.3 million in 2024 producing them, the U.S. Mint reported. Congress sets currency specifications, so it's unclear whether Mr. Trump has the power to eliminate the penny, but the president might be able to stop the Treasury from minting them.
What Trump’s Plan to Stop Minting Pennies Means for Consumers
President Trump said Sunday that he had asked the U.S. Treasury Department to stop minting new pennies, part of an effort to cut down on what he called wasteful government spending. His remarks revived a long-running debate over whether to get rid of the smallest denomination of U.
Trump orders halt to minting of penny. Here’s how it could cost you money
President Donald Trump has ordered the U.S. Treasury to cease minting the penny coin in a bid to cut government spending, USA Today reported. But the move could lead to price increases for U.S. consumers.
So long, penny! Trump orders US to ditch 1-cent coin after decades of complaints
President Donald Trump announced Sunday he’s ordered his administration to cease production of the 1-cent coin, whose buying power is long past its prime.
Trump wants to end penny production; will it affect consumers?
President Donald Trump is seeking to end production of new pennies. An expert told FOX Business the effect on consumers will be negligible.
Trump promised no new pennies — here’s how that would work
The president could promptly end the production of new pennies, but phasing out the coin would take time and mean changes at retail stores, economists said.
It takes nearly 4 cents to make a single penny. Here's why Trump wants them gone.
Trump says he'll order the Treasury Department to halt penny production to save money. Costly nickels, however, could cancel out savings.
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Why is Donald Trump discontinuing the penny?
The one cent coin costs more to produce than its value and is nearly obsolete in retail. But it has its supporters.
Canadian dollar nearing 71 cents as U.S. 'tariff fatigue' sets in
The Canadian dollar continued to climb on Friday after closing above 70 cents U.S. on Thursday for the first time since December, as its counterpart in the United States slid on “ tariff fatigue .” ...
Will prices be affected by Trump removing penny from circulation? Economists weigh in
For far too long the United States has minted pennies which literally cost us more than 2 cents,” the president said in a ...
Donald Trump hits Canadian aluminum and steel with 25 per cent tariff
Calls for Canadian retaliation reverberated hours before U.S. President Donald Trump was expected to act on his threat of 25% ...