Trump directs Treasury to stop minting new pennies, citing cost

President Trump says he has directed the Treasury Department to stop minting new pennies, citing the rising cost of producing the one-cent coin.

"For far too long the United States has minted pennies which literally cost us more than 2 cents. This is so wasteful!" Mr. Trump wrote in a post Sunday night on his Truth Social site. "I have instructed my Secretary of the US Treasury to stop producing new pennies."

The move by Mr. Trump is the latest in what has been a rapid-fire effort by his new administration to enact sweeping change through executive orders and proclamations on issues ranging from immigration, to gender and diversity, to the name of the Gulf of Mexico.