President Donald Trump has ordered the U.S. Treasury to stop minting new pennies, referring to their production as wasteful. Despite no formal announcement, discussion around ceasing lower-denomination coin production has been ongoing due to consistently rising costs. Currently, it costs approximately 3.7 cents to produce a penny and 13.8 cents for a nickel. Other countries such as Canada have already phased out low-denomination coins. The penny, first minted in 1792, features Abraham Lincoln since 1909, yet its future remains uncertain amid economic considerations.
The United States produces billions of pennies per year, using copper and zinc, despite rising production costs exceeding their face value.
For far too long, the United States has minted pennies which literally cost us more than 2 cents, let's rip the waste out of our great nation's budget.
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