U.S. Just Killed the Penny After 231 Years—Here’s Why

U.S. Treasury Ends Penny Production After 231 Years | Trump and Elon Musk React. In a historic move, the U.S. Treasury has announced it will stop producing pennies starting next year, marking the end of a 231-year tradition. President Trump called the coins “wasteful,” and Elon Musk’s Department of Government Efficiency (DOGE) supported the decision based on rising production costs. With each penny now costing nearly 4 cents to mint, the government expects to save $56 million annually. Learn how this shift could impact store prices, fundraising, and the future of coin-based currency in America. 🔔 Subscribe for more short-form financial news and trending updates. Check out www.benzinga.com for complete coverage along with all the latest financial news and data! Follow us on socials: Instagram: https://www.instagram.com/benzinga Facebook: https://www.facebook.com/benzinga TikTok: https://www.tiktok.com/@benzinga X: https://www.x.com/benzinga Disclaimer: Trading in financial markets involves significant risk, and there is no guarantee of profit. The information provided by any financial product or service is for educational purposes and should not be considered as financial advice. Before making any investment decisions, it's important to conduct thorough research and consult with a qualified financial advisor. Past performance is not indicative of future results. Always invest what you can afford to lose and be aware of the potential for loss in any investment strategy. #penny #pennies #TrumpNews #FinancialNews