It was a question begging to be asked after President Donald Trump announced Sunday that he had ordered Treasury Secretary Scott Bessent to stop minting pennies: What would become of the penny loafer?
5don MSNOpinion
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"Let's rip the waste out of our great nation's budget, even if it’s a penny at a time," Trump said in the post.It remains unclear whether Trump alone has the authority to halt penny production.
he said in a post on his Truth Social platform. “Let’s rip the waste out of our great nations budget, even if it’s a penny at a time.”Trump actually undersold the cost argument — pennies ...
EACH PENNY COST A LITTLE LESS THAN FOUR CENTS TO PRODUCE. IT'S UNCLEAR WHETHER THE PRESIDENT HAS THE POWER TO STOP MAKING NEW PENNIES. CURRENCY SPECIFICATIONS They cost nearly 270% more to make ...
In the U.S., it costs more than the face value to circulate certain coins like the penny and nickel. According to a 2024-dated report from the United States Mint, producing a single penny costs ...
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