Can he do that? It’s not clear. But President Trump is right when he says that pennies “literally cost us more than 2 cents.”

President Donald Trump said he has ordered the Treasury Secretary to stop minting new pennies, in a post on his Truth Social platform on Sunday night, citing the cost of production for the coin, which has been higher than its face value for nearly two decades.

KEY TAKEAWAYS President Donald Trump said he has instructed the US Treasury Secretary to stop minting new pennies, citing the coin's cost of production.The U.S. president said in a Truth Social post that the cost to produce the penny—at more than 2 cents—was "so wasteful.