10.02.2025 07:54
U.S. President Donald Trump deemed the production of coins that cost more than 2 cents to mint as wasteful and instructed the Treasury Secretary to halt the production of the new 'penny'.
U.S. President Donald Trump announced that he instructed U.S. Treasury Secretary Scott Bessent to stop the production of new "pennies," describing the minting of coins that cost more than 2 cents to produce as "waste."
"THE PRODUCTION COST OF COINS IS TOO HIGH"
In a new move to cut public spending, U.S. President Donald Trump, who officially took office on January 20, criticized the high production cost of some coins used in the country through a statement on his Truth social media platform.
"THIS IS A HUGE WASTE"
Trump stated, "The United States has been minting coins that cost us more than 2 cents for a very long time," and added, "This is a huge waste."
For this reason, Trump announced that he instructed U.S. Treasury Secretary Scott Bessent to stop the production of new "pennies," saying, "Even if it's just one 'penny' at a time, let's eliminate the waste in our great nation's budget."