President Trump's Directive to Stop Minting New Pennies
President Trump directed the Treasury Department to stop minting new pennies due to production costs, but Congress authorizes the U.S. Mint's coin manufacturing. The penny has 'negative seigniorage,' costing more to produce than its value. Various lawmakers have proposed eliminating or suspending penny production, with concerns about environmental impact, low usage, and minimal value. Some worry eliminating pennies could lead to a 'rounding tax' on cash transactions.