Trump Plan to Ditch the Penny Comes With Twist: It May Not Save Much
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President Donald Trump’s order Sunday night to stop minting billions of pennies annually potentially comes with some unexpected costs.
The penny, a staple of US currency since since 1793, costs more than 3 cents to make, costing the government a net loss of $85 million, per the US Mint’s 2024 annual report, making it a target for the Elon Musk-led Department of Government Efficiency.