WASHINGTON, DC: United States President Donald Trump has announced that Washington, DC, will stop minting pennies, citing their high production cost, which exceeds their face value, and termed the practice "wasteful."
President Trump said Sunday that he has instructed Treasury Secretary Scott Bessent to "stop producing new pennies."
Trump made his announcement on a Truth Social post after attending the first half of the Super Bowl. In his post on 'Truth Social,' Trump wrote, "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 nation's budget, even if it's a penny at a time," he said. (ANI)
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