By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Pew PatriotsPew PatriotsPew Patriots
Notification Show More
Font ResizerAa
  • Home
  • News
  • Tactical
  • Guns and Gear
  • Prepping & Survival
  • Videos
Reading: How Trump might get rid of the penny — and what could come next for your pocket change
Share
Font ResizerAa
Pew PatriotsPew Patriots
  • News
  • Tactical
  • Guns and Gear
  • Prepping & Survival
  • Videos
Search
  • Home
  • News
  • Tactical
  • Guns and Gear
  • Prepping & Survival
  • Videos
Have an existing account? Sign In
Follow US
How Trump might get rid of the penny — and what could come next for your pocket change
News

How Trump might get rid of the penny — and what could come next for your pocket change

Jimmie Dempsey
Last updated: February 11, 2025 12:03 am
Jimmie Dempsey Published February 11, 2025
Share
SHARE

President Donald Trump unveiled plans Sunday to halt production of the penny — but getting that initiative underway requires a few additional steps and possibly congressional approval. 

Additionally, while Trump said he instructed the Treasury Department to stop minting them due to their high costs, supporters of the penny claim it’s wiser to evaluate changes to the nickel instead. 

“For far too long, the United States has minted pennies which literally cost us more than 2 cents,” Trump wrote on Truth Social on Sunday. “This is so wasteful! I have instructed my Secretary of the US Treasury to stop producing new pennies.”

MUSK’S NEXT TARGET? TRUMP SAYS DOGE WILL LOOK AT DEPARTMENT OF EDUCATION, PENTAGON FUNDING 

In fact, producing pennies is even more expensive than Trump’s numbers. According to a 2024 U.S. Mint report, it costs nearly 3.69 cents to mint a single penny. The coins are primarily made of zinc and then covered in copper. 

Trump’s statement comes after Tesla and SpaceX CEO Elon Musk, who is heading up the new Department of Government Efficiency (DOGE), posted on X in January how expensive minting pennies is. 

DOGE is tasked with identifying ways to eliminate waste, and has so prompted changes, including gutting the $40 billion U.S. Agency for International Development (USAID), which provides aid to impoverished countries and development assistance.

Still, proponents of the penny exist. Americans for Common Cents, an organization that provides Congress and the White House with research on the value of the penny, claimed that efforts are better targeted at reducing the cost of the production for the nickel. 

Nickels, worth five cents, cost approximately 13.8 cents to mint, according to the 2024 U.S. Mint report. 

“The logical and fiscally responsible solution is not to eliminate the penny but to focus on producing a cheaper nickel,” Americans for Common Cents Executive Director Mark Weller said in a Jan. 23 statement. “This approach would address the real driver of losses while preserving the functionality of small denominations in everyday transactions.” 

While the waters are a little murky on the next steps, experts say Congress likely would need to become involved and pass legislation to fulfill Trump’s wishes. And, historically, previous attempts in Congress to eliminate the coin have failed. 

USAID STAFFERS STUNNED, ANGERED BY TRUMP ADMIN’S DOGE SHUTDOWN OF $40B AGENCY

A bronze seal beside a door at the U.S. Treasury building in Washington, D.C.

“The process of discontinuing the penny in the U.S. is a little unclear. It would likely require an act of Congress, but the Secretary of the Treasury might be able to simply stop the minting of new pennies,” Robert Triest, an economics professor at Northeastern University, told the Northeastern Global News.

Even so, there is bipartisan interest on Capitol Hill to modify minting pennies. In 2023, Sens. Joni Ernst, R-Iowa, and Maggie Hasson, D-N.H., reintroduced legislation to alter the composition of the penny to cut down on costs. 

“It’s absolute non-cents that American taxpayers spend ten cents to make just one nickel. Only Washington could lose money making money,” Ernst said in a statement in April 2023. “This commonsense, bipartisan effort will modify the composition of certain coins to reduce costs while allowing for a seamless transition into circulation. A penny saved is a penny not borrowed.”

CLICK TO GET THE FOX NEWS APP

Even so, a composition change will unlikely yield cheaper results. The 2024 Mint Report said that options for different metal compositions aren’t available to reduce production costs down to face value. 

There’s still some precedent for change though, and Congress has acted previously to discontinue minting new coins. The legislative branch authorized discontinuing new half-cent coins in 1857. 

The Associated Press contributed to this report. 

Read the full article here

You Might Also Like

Filmmaker politicizes his upcoming ‘Superman’ movie, says bloodied Superman represents ‘our country’

Tennessee’s Nico Iamaleava under scrutiny over NIL, practice drama

To keep the skies safe, the FAA needs a makeover

3 political winners for 2024

Women’s sports activist aims to ‘platform’ knee-taking fencer as the latest winner of courage award

Share This Article
Facebook Twitter Email Print
Leave a Comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

We Recommend
Randy Travis stages stunning comeback with help from AI after devastating stroke
News

Randy Travis stages stunning comeback with help from AI after devastating stroke

Jimmie Dempsey Jimmie Dempsey May 9, 2025
Amtrak bilked out of $12M by at least 119 employees, doctors in fraud scheme; many still on the job: report
State trooper points to possible weapon in John O’Keefe death – and it’s not Karen Read’s car
George Pickens looking ahead after Steelers trade him to Cowboys: ‘I’m glad to be here in Dallas’
Letitia James town hall derailed by Trump supporter’s question: ‘Will you apologize?’
Anti-Israel mob descends on Brooklyn College in NYC as agitators brawl with police, get tased
Josaia Raisuqe, rugby star who won silver at Paris Olympics with Fiji, dead after accident involving train
News

Josaia Raisuqe, rugby star who won silver at Paris Olympics with Fiji, dead after accident involving train

Jimmie Dempsey Jimmie Dempsey May 9, 2025
10 Ways To Hide Your Survival Garden
Prepping & Survival

10 Ways To Hide Your Survival Garden

Jimmie Dempsey Jimmie Dempsey May 8, 2025
Shedeur Sanders’ first look at Browns locker has Deion Sanders cracking jokes: ‘Let’s go #2 I mean #12’
News

Shedeur Sanders’ first look at Browns locker has Deion Sanders cracking jokes: ‘Let’s go #2 I mean #12’

Jimmie Dempsey Jimmie Dempsey May 8, 2025
Pew Patriots
  • News
  • Tactical
  • Prepping & Survival
  • Guns and Gear
  • Videos
  • Blog
2024 © Pew Patriots. All Rights Reserved.
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?