Published 12 days ago • loading... • Updated 10 days ago

'Makes sense': GOP, Dems unite behind Trump's plan to fire the penny

President Donald Trump proposed to stop minting pennies due to decreased demand, which he stated makes sense.
The U.S. Mint reported that demand for new coins fell from 15 billion in 2021 to less than 6 billion last year.
Pennies account for over half of coin production, but production declined from 17 billion coins in 2015 to 5.6 billion in fiscal 2024.
Cutting the penny could save the Mint up to $100 million annually, according to a recent report.

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OC Register

Here’s a look at the history of the penny and why it could be going away

You might be surprised by when Abraham Lincoln got his portrait on the penny.

10 days ago·Orange County, United States

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The Heritage Foundation

Trump’s Penny Policy: It Makes Sense To Stop Making Cents

There’s an old saying that if you watch the pennies and nickels, then the dollars take care of themselves. President Donald Trump is taking that dictum to heart, ordering Treasury Secretary Scott Bessent to halt minting pennies because the government actually loses money on the coins. Normally, printing currency and minting coins costs less than the face value of the money being created. For example, the federal government pays less than $100 fo…

11 days ago

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arcamax.com

Trump's plan to eliminate the penny follows sharp drop in US coin demand at Philadelphia mint

PHILADELPHIA — Congress, the Supreme Court, the central bank, the President's House — all national institutions that graced Philadelphia when it was the nation's capital in the 1790s — left long ago for Washington, D.C. But not the U.S. ...

11 days ago

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Fox News

'Makes sense': GOP, Dems unite behind Trump's plan to fire the penny

Democratic and Republican lawmakers spoke with Fox News Digital on Capitol Hill about whether they agree with President Donald Trump's elimination of the penny.

12 days ago·New York, United States

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The Straits Times

Few mourn the US penny as Trump moves to kill it

A penny in 2024 cost 3.69 cents to make, up about 20% from 2023 due to the cost of materials, including zinc.

12 days ago·Singapore

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Long Island Business News

Cantor: For my two cents: It’s time for the penny to go

As President Trump seeks to downsize the cost of the U.S. Government, let me add my two cents to the effort; or to be more exact, one cent. It is time for the penny to go.

11 days ago

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