Staff Reports
The latest brainchild from the Trump administration has arrived, and it’s sure to ruffle some feathers in the world of economics: the end of the penny. President Trump has ordered the Treasury Department to halt the minting of this one-cent nuisance, declaring the production of the coin more costly than its worth. Trump took to his Truth Social platform to make his intentions clear, highlighting how the penny has become a prime example of government waste—costing a robust 3.7 cents to produce each little copper disk. One has to wonder how many other financially challenged initiatives he could tackle if he applies the same logic.
Entering the ring like a heavyweight champion, Trump’s latest move aligns with his mission of slashing waste across the government. He’s not just thinking about pennies; this is part of a sweeping effort to shake up everything from immigration to gender policies. Who knew that ending the penny would be part of his grand plan? Yet, while it wasn’t a campaign promise, one can’t help but applaud the President’s willingness to think outside the box—throwing in a puzzle-piece to help illustrate the absurdity of government inefficiency even in what’s meant to be one of its tiniest denominations.
RIP TO THE PENNY??
🇺🇸 President Donald Trump has directed the US Treasury to stop minting new pennies citing the rising costs
In 2024 every penny which represents 1 cent costed 3.69 cents to make pic.twitter.com/fS1diKimbx
— Evan (@StockMKTNewz) February 10, 2025
The costs continue to spiral, as the U.S. Mint reported that it racked up an astonishing $85.3 million loss in the last fiscal year due entirely to these beleaguered pennies. To put it simply: each penny is a money pit. While some may see it as just pocket change, the reality is that when each coin costs the government more than it is worth, it’s a signal that things need changing. Some might argue that it’s just a penny, but “penny wise, pound foolish” seems to be the motto of our federal spending spree.
In typical Washington fashion, the question now is whether Trump has the authority to stop minting pennies all by himself. While currency production rules are typically tethered to Congress, a few have raised eyebrows about the Secretary of the Treasury possibly having enough leverage to end the production without a legislative battle. Would it be revolutionary or just another episode of “Who Wants to Eliminate the Penny?” either way, it’s clear that change is afoot.
Congress has been kicking around the idea of nipping the penny for ages, and while other nations like Canada have already made the leap, it takes true leadership to bring the discussion back into the limelight. Trump and his team of efficiency aficionados, led by the renowned Elon Musk, are channeling their inner thriftiness and risking it all for simplicity at the cashier—after all, who really wants to break a fiver for something that’s just going to languish in the back of the couch? So let the coins roll, or rather, let them stop rolling, and hope for a more efficient future—one where pennies become a relic of the past.
