Mr. Trump ordered a halt to the minting of one-cent coins to avoid waste.

The US spends more than one cent to produce... a one-cent coin.

The Hill reported on February 10th that US President Donald Trump said he had instructed the Treasury Department to stop producing the one-cent coin, arguing that it was wasteful.

Writing on his Truth Social social media account, he said he had instructed Treasury Secretary Scott Bessent to stop minting low-value coins featuring the late President Abraham Lincoln.

"For a very long time, America has minted coins costing more than 2 cents. This is incredibly wasteful. I have instructed the Treasury Secretary to stop minting new coins. Let's eliminate waste from this country's budget, even if it's only 1 cent each time," said the White House occupant.

In fiscal year 2024, the cost to mint a one-cent coin was 3.7 cents, and this cost has consistently exceeded the face value of the coin for 19 consecutive years, according to the annual report of the U.S. Mint.

The one-cent coin was made of copper before 1962 and is now primarily made of copper-plated zinc. Lincoln's image has been on the one-cent coin since 1909. According to the U.S. Treasury Department, this is the first one-cent coin produced by the U.S. Mint.

Billionaire Elon Musk, who was tasked by President Trump with cutting waste in America, mentioned this coin in a social media post last month.

"The cost of producing a one-cent coin is over 3 cents and cost American taxpayers over $179 million in fiscal year 2023. The U.S. Mint produced over 4.5 billion one-cent coins in fiscal year 2023, accounting for approximately 40% of the 11.4 billion coins in circulation. One cent (or 3 cents) for your thoughts," said Musk's Office of Government Effectiveness (DOGE).

Source: https://thanhnien.vn/ong-trump-chi-dao-dung-duc-dong-1-xu-de-tranh-lang-phi-185250210142313211.htm