Trump Orders Treasury to Halt Minting New Pennies to Cut Waste

President Trump has ordered the Treasury to stop producing new pennies to reduce government spending, despite Congress authorizing coin manufacture. The cost of producing and distributing a penny exceeds its face value by 2.69 cents, resulting in a loss of $85.3 million for the Mint last year. Other countries like Canada and Australia have eliminated their smallest coins, with potential negligible impact on the economy but significant opposition due to sentimentality and potential increase in nickel demand.

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