Trump says he's instructing Treasury to "stop producing new pennies"

• Trump made his announcement after attending the first half of the Super Bowl.

What they're saying: "For far too long the United States has minted pennies which literally cost us more than 2 cents," Trump wrote. "This is so wasteful!"

• "Let's rip the waste out of our great nations budget, even if it's a penny at a time," Trump said.

Zoom in: The U.S. Mint's annual report cites the cost of making a penny was 3.69 cents in Fiscal Year 2024.

• The cost of the coin has "remained above face value for the 19th consecutive fiscal year."
• The unit cost for nickels was 13.78 cents, the report said.

Editor's note: This story was updated with additional information.

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