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- President Donald Trump directed Treasury Secretary Scott Bessent on Sunday night to halt the minting of new pennies, citing "wasteful" spending as coin production costs soar.
"For far too long the United States has minted pennies which literally cost us more than 2 cents. 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," Trump wrote on Truth Social. Next it will be nickels. And before too long, they will discontinue printing the dollar! It will all be digital and on BLOCKCHAIN!
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