President Donald Trump has announced plans to halt the production of pennies, calling them a wasteful drain on taxpayer dollars. While this move aligns with Trump’s America First efficiency agenda, it could require congressional approval before taking full effect.
“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.”
According to a 2024 U.S. Mint report, Trump’s numbers were actually low—it costs 3.69 cents to mint a single penny. Given that pennies are primarily made of zinc and coated in copper, the rising cost of materials has made their production economically senseless.
Elon Musk’s DOGE Pushes for More Government Efficiency
Trump’s move follows a January post by Elon Musk, who leads the Department of Government Efficiency (DOGE), pointing out how much money the U.S. wastes minting pennies.
DOGE is focused on slashing wasteful spending and has already helped gut the $40 billion U.S. Agency for International Development (USAID), a bloated bureaucracy that spent millions funding anti-Israel groups. Now, it’s targeting waste in currency production, an issue Washington has ignored for decades.
Nickels Are an Even Bigger Problem
While penny proponents still exist, some argue that the real problem is the nickel, which costs 13.8 cents per coin to produce. Americans for Common Cents Executive Director Mark Weller believes efforts should be focused on producing a cheaper nickel, rather than eliminating pennies.
“The logical and fiscally responsible solution is not to eliminate the penny but to focus on producing a cheaper nickel,” Weller said in a Jan. 23 statement.
But here’s the issue—the 2024 Mint Report found that there are no alternative metals that would make nickel production significantly cheaper. In short, America is literally losing money making money.
Will Congress Block Trump’s Plan?
While the Treasury Department could potentially stop minting pennies, there’s still legal ambiguity over whether an act of Congress is required to officially kill the coin. Historically, previous attempts to eliminate the penny have failed, thanks to special interest groups protecting useless government spending.
Some lawmakers on both sides of the aisle have pushed for reforming coin production, including Sen. Joni Ernst (R-IA) and Sen. Maggie Hassan (D-NH), who reintroduced legislation in 2023 to cut down minting 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.
Still, the 2024 Mint Report suggests that no realistic composition changes could bring minting costs down to face value—meaning it’s time for a full overhaul of the system, not just tweaks.
Another Bloated Government Program on the Chopping Block
If Congress fights back against Trump’s move, it will prove once again that Washington can’t resist wasting taxpayer money. Eliminating the penny and fixing the coin minting process is common sense, and if Congress blocks it, they’ll be exposed for defending government waste over American interests.
With Trump back in charge, expect more bold moves to eliminate bureaucratic nonsense—and expect Washington’s establishment to fight him every step of the way.
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