Trump orders Treasury to stop minting pennies. How much copper is in a penny? Here's how much it cost to mint a penny.

The move by Trump is the latest in what has been a rapid-fire effort by his new administration to enact sweeping change.

“For far too long the United States has minted pennies which literally cost us more than 2 cents,” Trump posted on his social media site Truth Social. “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 nations budget, even if it’s a penny at a time.”

President Donald Trump said he wants to end the production of pennies, calling them “wasteful.” Each coin costs 3.7 cents to produce.

President Trump said he wants the U.S. Treasury to stop making pennies. Can he do a penny drop? Does it need Congressional approval? What we know.

The penny has been in the crosshairs of Trump officials since he took office. Last month, DOGE, the department run by Tesla and SpaceX CEO Elon Musk, said that producing 4.5 billion pennies in Fiscal Year 2023 cost taxpayers more than $179 million.

For far too long the United States has minted pennies which literally cost us more than 2 cents. This is so wasteful!”

This is so wasteful! I have instructed my Secretary of the US Treasury to stop producing new pennies," Trump wrote. "Let's rip the waste out of our great nation's budget, even if it's a penny at a time,

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