"The cost savings of ending penny production will save the American taxpayer approximately $56 million a year in just production cost alone," he said. President Trump wrote on Truth Social in February that minting pennies costs more than 2 cents. "This is so wasteful," he wrote.

The United States Mint said in its annual report that each penny costs 3.69 cents to make, almost three cents more than the coins value.

Rep. Ritchie Torres, a New York Democrat, introduced legislation aimed at blocking President Donald Trump's administration from issuing coins bearing the Republican leader's own image. The bill comes after the Treasury Department announced plans to mint $1 ...

The Trump administration announced this week that the U.S. Mint will cease production of pennies due to high production costs, marking the end of an era for U.S

The U.S. Department of the Treasury reported the printing death of the once-treasured penny, after the last one-cent coin was manufactured.