Trump Plan to Kill Penny Comes With Twist: It May Not Save Much

President Donald Trump’s order Sunday night to stop minting billions of pennies annually potentially comes with some unexpected costs.

The penny, a staple of US currency since since 1793, costs more than 3 cents to make, costing the government a net loss of $85 million, per the US Mint’s 2024 annual report, making it a target for the Elon Musk-led Department of Government Efficiency.

A machine operator transports penny blanks at the United States Mint in Philadelphia.

Photographer: Andrew Harrer/Bloomberg

But the humble coin’s biggest proponents — including Abraham Lincoln aficionados and the company, Artazn, which makes the penny blanks in Tennessee, argue there’s little — if any — savings to be ...