Trump says he has directed Treasury to stop minting new pennies, citing cost

President Donald Trump is pictured before boarding Air Force One at the Naval Air Station Joint Reserve Base (AP/Ben Curtis)

President Donald Trump says he has directed the Treasury Department to stop minting new pennies, citing the cost of producing the one-cent coin.

“For far too long the United States has minted pennies which literally cost us more than 2 cents. This is so wasteful!” Mr Trump wrote in a post on Sunday night on his Truth Social site.