The US government Is no longer going to mint a penny because bureaucrats think it does not make sense.
The Treasury Department says it will phase out production of new pennies early next year after Trump asked the agency to stop producing the 1-cent coin.
The cost of making a penny has risen to more than twice the coin's face value.
The Treasury said in a statement that the U.S. Mint will stop producing new pennies once it runs out of blank templates used to make the mostly copper and zinc coins. The agency confirmed that it made its final order of penny blanks this month.
The retirement of the penny, which was first reported by the Wall Street Journal, is expected to save the Treasury Department around $56 million annually in reduced material costs, according to the department's statement.
