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Trump Halts Penny Production Amid Rising Costs

5/30/2025

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Summary

Story summary

President Trump directed the U.S. Treasury to cease penny production by early 2026 due to high costs.
The U.S. Mint incurred an $85 million loss in penny production for 2024.
Cash transactions will round to the nearest five cents, while digital payments will remain unaffected.
This decision aligns with global trends of eliminating one-cent coins.
Collectors are stockpiling 2025 pennies, expecting their value to rise.

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Story summary

President Trump directed the U.S. Treasury to cease penny production by early 2026 due to high costs.
The U.S. Mint incurred an $85 million loss in penny production for 2024.
Cash transactions will round to the nearest five cents, while digital payments will remain unaffected.
This decision aligns with global trends of eliminating one-cent coins.
Collectors are stockpiling 2025 pennies, expecting their value to rise.