In a surprise announcement during Super Bowl LIX, President Donald Trump took to social media, declaring that he had ordered the U.S. Treasury to stop minting new pennies, citing rising production costs. At a time when the penny costs about 3.7 cents to produce, the move seemed like a logical decision, especially given that the government loses money on every coin minted. However, can a president simply cancel the penny, or does it require more than just a social media post?
The Penny Problem
Critics of the penny argue that it’s a prime example of government waste. In 2024, the U.S. Mint reported a loss of $85 million from minting pennies alone, while nickels also cost the Mint around $18 million. Although the Mint earned a profit of about $100 million overall from producing U.S. coins, these losses have sparked a national debate on the practicality of the penny in a modern economy. Public opinion on the penny remains split, with some Americans advocating for its elimination due to its low value and the nuisance of carrying around a pocketful of them. Despite this, pennies are gradually disappearing from circulation, with the Mint producing just a fraction of the number of pennies it did in the 1990s. In fact, production has dropped from 11 billion pennies per year to around 5 billion annually throughout the 2020s, with only about a quarter of a million pennies minted in 2025.
Is Trump’s Announcement Legally Valid?
While Trump’s tweet ordering the cessation of penny production may have sounded like a bold move, the legal standing of such an action is questionable. Under the U.S. Constitution, Article 1, Section 8, it is Congress that holds the power “to coin money” — not the president. The Coinage Act of 1792, signed into law by President George Washington, outlined the minting process and established the penny as a legal form of currency. The law explicitly stated that the Mint must produce coins of a certain value, including “Cents” representing one-hundredth of a dollar. Any alteration to this would require legislative action by Congress, not a presidential executive order.
In the history of U.S. coinage, Congress has modified the Coinage Act several times, including eliminating the half-cent in 1857 and transitioning coins from silver to cheaper materials in 1965. Additionally, there have been numerous attempts to abolish the penny. Most notably, Arizona Representative Jim Hayes proposed the Price Rounding Act in 1989, which would have rounded cash transactions to the nearest nickel, eliminating the need for pennies in circulation. Although the bill didn’t pass, it highlighted the ongoing public desire to rid the economy of the penny. Similarly, in 2017, Senator John McCain introduced the COINS Act, which sought to end penny minting and replace the paper one-dollar bill with a coin. Like previous proposals, it did not make it through Congress.
Will the Penny Disappear Anyway?
While the president’s tweet may have stirred public debate, the penny is already on a slow decline. The U.S. Mint’s decision to drastically reduce penny production signals that the coin could eventually fade into history on its own. But for the penny to officially vanish, Congress must pass a bill to abolish it, much like how other outdated or unnecessary currency has been phased out in the past. The future of the penny remains uncertain, but for now, President Trump’s announcement may not have the legal weight many might expect.
As the penny’s cost continues to rise and its utility declines, we may see Congress take action — not a tweet — to decide the fate of America’s smallest coin.
