President Trump orders halt to penny production as minting costs exceed face value. The move could save taxpayers millions while existing pennies remain in circulation.

President Donald Trump announced on Wednesday he was cutting billions in federal funding for the construction of a high-speed rail line in California.

Should you cash in your pennies? The small currency will soon be a thing of the past, but don't think you are sitting on a ...

A fter 233 years in circulation, the U.S. government is finally phasing out the penny. According to a Treasury Department spokesperson, the U.S. Mint has made its last purchase of penny blanks and ...

President Donald Trump installs two massive American flags on White House lawns this summer, personally funding the estimated ...

The Consumer Financial Protection Bureau's reversal on its settlement with Navy Federal Credit Union is part of a broader pattern.

Trump has ordered the Treasury to stop minting pennies because their production cost exceeds their value. (Intriguingly, it's the same for nickels.) ...

Trump had not discussed his desire to eliminate the penny during his campaign. But Elon Musk's so-called Department of Government Efficiency raised the prospect in a post on X last month ...

Billionaire tech entrepreneur Elon Musk, who has been tasked by Trump with cutting waste in the U.S., targeted the penny in a post on X last month. “The penny costs over 3 cents to make and cost ...

Why it matters: Trump's Truth Social post comes after the Department of Governmental Efficiency led by Elon Musk talked about the high cost of the penny on Jan. 21.

While many Americans may not miss the penny, a small but dedicated cheering section for the coin — and its producers — wants to stop Trump's order to end production.