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.

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 gold mine just yet.

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 will halt production of the coin once that supply is exhausted, likely by early next year.

President Donald Trump installs two massive American flags on White House lawns this summer, personally funding the estimated $50,000 per flagpole project instead of using taxpayer funds.

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 ...

The U.S. Treasury Department will stop penny production by early 2026 after more than two centuries. Businesses will soon round cash transactions to the nearest nickel while the government expects to save $56 million annually.