The U.S. Mint reported the manufacturing and distribution costs over triple their value.
President Donald Trump announced that he has directed Treasury Secretary Scott Besent to halt the production of new pennies. The cost to manufacture them is beyond double their worth.
“For far too long the United States has minted pennies which literally cost us more than 2 cents,” President Trump stated. “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 nation’s budget, even if it’s a penny at a time.”
The U.S. Mint reported last year that it costs approximately “3.7 cents to manufacture and distribute” pennies.
Elon Musk stated last month on the DOGE account, “The penny costs over 3 cents to make and cost US taxpayers over $179 million in FY2023. The Mint produced over 4.5 billion pennies in FY2023, around 40% of the 11.4 billion coins for circulation produced.”
As the Lord Leads, Pray with Us…
- For the president as he identifies ways to reduce government spending and save money.
- For discernment for the DOGE personnel as they seek to uncover fraud and waste in the government payment systems.
Sources: Breitbart, Fox5
