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Politics

Why is Donald Trump discontinuing the penny?

Donald Trump Laurence H Tribe the US Mint

Each penny costs 3.69 cents to produce, according to the US Mint [Michael M Santiago/Getty Images via AFP]

United States President Donald Trump has ordered the Treasury to stop minting new pennies, reviving an old debate about the value of the one cent coin.

The penny, Trump argued in a post on his Truth Social platform on February 9, is “wasteful” because the cost to make it far exceeds its currency value.

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