Trump ordered this.
Trump ordered the cessation of minting pennies.
"This is wasteful! I have directed the U.S. Secretary of the Treasury to stop the production of new pennies," said the U.S. president.
It has been reported that for the fiscal year 2024, the cost of producing and distributing pennies by the U.S. Mint is approximately 3.7 cents each, which is 20% more than in 2023.
The rise in the prices of zinc and copper, the metals used in minting these coins, has been cited as the reason for this decision.
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