President Trump said he wants the U.S. Treasury to stop making pennies. Can he do a penny drop? Does it need Congressional approval? What we know.

Donald Trump announced on February 9 he had ordered the US Treasury to stop minting the penny. “For far too long the United States has minted pennies which literally cost us more than 2 cents,” the US president said on his Truth Social platform. “Let’s rip the waste out of our great nations [ sic] budget, even if it’s a penny at a time.”

President Donald Trump says he has directed the Treasury Department to stop minting new pennies, citing the rising cost of producing the one-cent coin.