Staff Reports
President Trump has set his sights on a classic example of waste in federal spending: the penny. In what could be seen as a stroke of common sense—or a monetary revolution—Trump proclaimed on Truth Social that the time has come to stop minting pennies, which cost taxpayers more than they are worth to produce. For those who missed the memo, the U.S. Mint has confirmed that it costs about 3.69 cents to make each penny, resulting in a staggering loss of $85.3 million for the Mint in the latest fiscal year.
Undoubtedly, this move reflects Trump’s commitment to fiscal conservatism, a principle that has seemingly been lost in the depths of Washington’s wallets. With common sense taking a backseat for too long, Trump believes he’s finally ready to rip the waste out of the government’s budget, one penny at a time. If people are concerned about the loss of currency in circulation, they should simply ponder this: Would they rather fill their pockets with pennies or maintain a financially robust government?
The nickel might be next on Trump’s chopping block, as it, too, is costing way more than its face value. Each nickel, made with taxpayer dollars, comes in at a whopping 13.78-cent production cost, resulting in $17.7 million in losses. It’s almost as if this coin operation is a game of Monopoly gone wrong, expecting to play with fake money while the real-world consequences keep piling up. Who knew that the U.S. Mint was operating with such amusingly inefficient standards when it could simply follow the lead of inflation and bow out gracefully?
The Department of Government Efficiency has been waving the flag of penny elimination for years, urging a course of action that many Americans appear to support. Polls suggested that a decisive 58 percent of the populace would be willing to let the penny ride into the sunset. And why wouldn’t they? How many times does one pay in pennies these days, except for the odd child who’s eager to save their allowance? Reducing the number of low-value coins only makes logistical sense, not to mention the added bonus of cleaning out the couch cushions of excessive change.
Trump Axes the Penny in Latest Round of Federal Cuts: 'This Is So Wasteful!': President Trump explained why the cut was made on Sunday. https://t.co/CfxuZzb7YH pic.twitter.com/lrPLI4Vqau
— The Western Journal (@WestJournalism) February 10, 2025
However, as astute observers have noted, officially retiring the penny will likely require congressional approval—a classic case of needing approval from the same people who’ve collectively contributed to the absurdity of this situation. One can only imagine the vigor with which Congress will debate the future of a coin that symbolizes the fiscal follies of the federal government. Nevertheless, with Trump at the helm, there’s a glimmer of hope that penny stock is on the decline, heralding a new era of budgetary responsibility.
In summary, the penny’s downfall isn’t just about a minor coin; it’s a reflection of a broader wave of sanity in governance that the American people have been craving. If Trump can take a hard look at coins and find a way to trim the fat, perhaps it’s time to get serious about tackling other, larger monetary headaches. Maybe the nickel will soon follow in the footsteps of its bronze counterpart, sending a message that American taxpayers deserve better than pennies for their thoughts and more sensible coinage policies for their wallets.
