Donald Trump Orders US Treasury To Halt Minting Pennies To Cut Waste

US President Donald Trump has ordered the Treasury Department to stop minting new pennies. The billionaire ordered to cease production of the one-cent coin, citing the rising cost of its production. The move to cease penny production adds to the Trump administration's efforts to enact sweeping change through executive orders on issues ranging from immigration to gender and diversity to the name of the Gulf of Mexico.

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

"Let's rip the waste out of our great nation's budget, even if it's a penny at a time," he added.

The one-cent coin, also known as a penny, was first issued by the federal government in 1793. Since 1909, the profile of President Abraham Lincoln has adorned the obverse side of the coin which is made of zinc and copper.