How Trump might get rid of the penny — and what could come next for your pocket change

President Donald Trump They discovered plans on Sunday to stop Penny production – but in the course of these initiatives requires several additional steps and perhaps the approval of Congress.

In addition, even though Trump said that the Ministry of Finance had sent them to stop forging them because of their high costs, Penny’s supporters claim that it was wiser to evaluate the changes in Nickel.

“For too long, the United States has been cooked by little things that literally cost us more than 2 cents,” Trump wrote on Sunday on Truth Social. “This is so scattered! I ordered my US Treasury Secretary to stop producing new little things.”

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In fact, the production of coins is even more expensive than Trump’s numbers. According to the Mint 2024 report, it costs almost 3.69 cents to forging one pen. The coins are primarily made of zinc and then covered with copper.

Trump’s statement comes after Tesla and the Executive Director of the Spacex, Elon Musk, which runs a new Department for the Efficiency of the Government (Doge), posted on the X in January how many of the horses of Penya is expensive.

Doge is in charge of recognizing ways to remove waste and has encouraged changes so much, including the crowd of the US agency for international development of $ 40 billion (USAID), which provides assistance to impoverished countries and development assistance.

Still, the proponents of the pen exist. Americans for the usual cente, an organization that provides Congress and the White House to explore the value of money value, argued that efforts are better aimed at reducing the cost of nickel production costs.

Nickels, worth five cents, cost about 13.8 cents for the mint, according to a report on Metvica in 2024.

“The logical and fiscal responsible solution is not to eliminate the penny, but to focus on the production of cheaper nickel,” Americans told Common Cents CEO Mark Weller in the 23rd January 2nd. “This approach would deal with the actual loss driver with the preservation of the functionality of small denominations in daily transactions.”

Although the waters are a little blurry at the following steps, experts say Congress will probably have to get involved and adopt legislation to fulfill Trump’s wishes. And, historically, the previous attempts of the Congress to eliminate the coin failed.

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“The Penya Raise Process in the United States is a little unclear. He would probably require the rank of Congress, but the Treasury Secretary may have simply been stopping forging new coins,” Robert Trest, a professor of economics to the University of the Northeast, said Northeastern Global News.

Nevertheless, there is a two -sided interest in Capitol Hill to change coins forging. 2023, Joni Ernst, R-Iowa and Maggie Hasson, Dn.h., re-introduced legislation to change the pencil composition to reduce costs.

“It is absolutely non-publication that US taxpayers spend ten cents to make only one nickel. Only Washington could lose money by making money,” Ernst said in a statement in April 2023. “This healthy, double -sided effort will change the composition of certain coins to certain coins, reduce the costs as you allow a flawless transition to circulation.

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Despite this, change of composition is unlikely to give cheaper results. Metvica report of 2024 says that options for different metal compositions are not available to reduce production costs to the value of the face.

There is still some precedent for change, and the Congress has previously acted to abolish the blackout of new coins. The legislative subsidiary approved the abolition of new coins in half a cent in 1857.

Associated Press contributed to this report.