A nickel for your thoughts? US Mint's plans to kill the penny inch closer to reality
Briefly

A nickel for your thoughts? US Mint's plans to kill the penny inch closer to reality
"The production of pennies costs the U.S. more than their actual value, providing a compelling argument for ceasing their minting altogether."
"President Trump emphasized the wastefulness of pennies, stating that their continued production is illogical given they cost more than 2 cents each."
The U.S. Mint is set to cease penny production following a dramatic rise in its manufacturing costs, projected to exceed 20% in 2024. This decision, confirmed by a Treasury official, is expected to save $56 million annually in material costs. President Trump previously ordered the halt of penny minting, emphasizing the wastefulness of producing a coin worth less than its manufacturing cost. While some advocate for eliminating the penny due to high expenses, others argue for its utility in small transactions and charitable contributions.
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