Currently, it costs approximately 3.69 cents to make a single penny.

President Donald Trump announced in February that he was ordering his administration to end production of the coin, citing government waste.

"For far too long the United States has minted pennies which literally cost us more than 2 cents. This is so wasteful!" Trump wrote on Truth Social at the time. "I have instructed my Secretary of the US Treasury to stop producing new pennies."

The Associated Press reports:

The U.S. Mint has made its final order of penny blanks and plans to stop producing the coin when those run out, a Treasury Department official confirmed Thursday. This move comes as the cost of making pennies has increased markedly, by upward of 20% in 2024, according to the Treasury.