Donald Trump isn’t the first to dream about getting rid of lowest denomination US coin, nor is the US the only country to see a one cent coin as senseless.

“For far too long the United States has minted pennies which literally cost us more than 2 cents,” Trump posted on his social media site Truth Social. “This is so wasteful! I have instructed my Secretary of the US Treasury to stop producing new pennies. Let’s rip the waste out of our great nations budget, even if it’s a penny at a time.”

Unfortunately for anyone who loves shiny new pennies, President Donald Trump announced on Sunday that he had instructed the Treasury secretary to stop minting America’s one-cent coins. “For far too long the United States has minted pennies which literally cost us more than 2 cents,

Donald Trump has ordered the US Treasury to stop minting new pennies, citing that each one-cent coin costs 3.69 cents to produce — leading to an $85.3 million loss in 2024 alone. The move follows a push by Elon Musk’s Department of Government Efficiency and mirrors similar decisions in Canada and Europe.

"It can be a nuisance," an East Meadow diner manager said of trying to locate pennies to make change for customers.

The U.S. Mint said in fiscal 2024, it took about 3.69 cents to produce and distribute one penny, a 20.2% increase from 2023.

President Trump said Sunday he had asked the U.S. Treasury Department to stop minting new pennies, part of an effort to cut down on what he called wasteful government spending. His remarks revived a long-running debate over whether to get rid of the smallest denomination of U.