A surprising Super Bowl Sunday announcement from former President Donald Trump takes aim at one of America's most familiar coins.

According to the New York Post, Trump declared he had instructed the Department of Treasury to cease penny production, citing high manufacturing costs that exceed the coin's face value.

In a Truth Social post made during Super Bowl LIX, Trump expressed frustration over the current cost of penny production, which stands at more than three cents per coin.

Manufacturing expenses have climbed steadily in recent years, with the zinc and copper-based penny now costing 3.07 cents to produce as of 2024. This situation has resulted in significant losses for American taxpayers, with the U.S. Mint spending approximately $179 million to produce over 4.5 billion pennies in fiscal year 2023.

New administration targets wasteful government spending

Trump's latest directive aligns with his administration's broader initiative to eliminate government inefficiencies.

Working alongside entrepreneur Elon Musk, the Department of Government Efficiency has identified penny production as a prime example of wasteful spending. Their analysis reveals that penny manufacturing represents roughly 40% of all coins produced for circulation, despite its diminishing practical value.

The move to halt penny production has garnered significant public support. Recent polling data indicates that 58% of American voters favor discontinuing the penny. This sentiment reflects growing awareness of the coin's economic burden on taxpayers and its declining utility in modern commerce.

Previous legislative attempts to address the penny issue span several decades. These efforts demonstrate a long-standing recognition of the problem, though none have successfully resulted in policy changes.

Historical attempts to eliminate penny production

Multiple congressional leaders have previously championed legislation to address the penny's future. Former Arizona Representative Jim Kolbe introduced pioneering legislation in 1990 that would have eliminated pennies from transactions. His proposal suggested rounding costs to the nearest nickel, but failed to gain sufficient support.

The late Senator John McCain also recognized the need for reform. In 2017, he proposed a measure calling for a decade-long moratorium on penny production. This temporary halt would have allowed for a comprehensive study of the coin's potential removal from circulation.

These earlier initiatives, while unsuccessful, laid important groundwork for current discussions about the penny's role in modern commerce. They highlighted both the financial and practical challenges associated with maintaining penny production.

Trump shared his rationale in a Truth Social post:

For far too long the United States has minted pennies which literally cost us more than 2 cents. This is so wasteful! I have instructed my Secretary of the US Treasury to stop producing new pennies. Let's rip the waste out of our great nation's budget, even if it's a penny at a time.

Economic implications drive decisive action

The Department of Government Efficiency provided a detailed analysis supporting the decision. Their findings underscore the substantial financial burden of penny production on federal resources. Production costs have steadily increased due to rising material and manufacturing expenses.

The zinc and copper composition of modern pennies contributes significantly to production expenses. These materials, combined with manufacturing costs, push the total expense well above the coin's face value. This imbalance creates an unsustainable situation for the U.S. Treasury.

Recent fiscal data reveals the scope of this inefficiency. The Mint's production of 4.5 billion pennies in fiscal year 2023 represented a considerable portion of their total coin production while delivering minimal practical value to the economy.

Clear path forward emerges from past proposals

Trump's directive draws upon lessons learned from previous reform attempts. The administration's approach builds on earlier proposals while taking more decisive action. Their strategy focuses on immediate production cessation rather than gradual phase-out plans.

Implementation details remain under development. The Treasury Department must now determine how to manage existing penny circulation while preventing new production. This transition requires careful coordination with financial institutions and businesses.

Questions about the impact on cash transactions will need addressing. Earlier proposals, such as Kolbe's rounding system, may provide useful frameworks for managing this change.

Swift resolution shapes monetary future

Former President Trump's Super Bowl Sunday announcement marks a significant shift in U.S. monetary policy. His directive to the Treasury Department aims to address long-standing concerns about penny production costs exceeding face value. The decision comes after decades of failed legislative attempts and mounting evidence of financial waste. With production costs at 3.07 cents per penny and annual expenses reaching $179 million, the administration has determined that immediate action is necessary to eliminate this drain on taxpayer resources.