Is the US going 'penniless'? Why Trump wants to halt production of the coins

US President Donald Trump has announced that the United States will stop minting one-cent coins, commonly known as pennies, in an effort to cut costs.

In a post on his Truth Social platform, Trump stated, “Let’s rip the waste out of our great nation’s budget, even if it’s a penny at a time.”

“For far too long the United States has minted pennies which literally cost us more than 2 cents. This is so wasteful!”