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President Trumps pause of penny production renews long-simmering conversation about the one cent coin

By
Published  February 11, 2025 6:30pm CST
Donald J. Trump
FOX 26 Houston
Pause for pennies

Pause for pennies

President Trump's order that the Treasury Department stop making pennies has renewed a long simmering conversation about whether we need the penny anymore. FOX 26 Business Reporter Tom Zizka says when you look at it, it's not an unprecedented thought.

The Brief

    • Before President Trump, President Obama was the last to make a strong argument for doing-away with the penny. 
    • The latest penny pinch is about the price of production. At 3.7 cents a piece, pennies are rarely used, but remain the most-minted coin the government makes each year with an estimated 240 billion of them in circulation.
    • A handful of coins taken out of circulation, in the nation's history, for a variety of reasons.

Trump's pause of penny production renews conversation

What we know:

HOUSTON - Australia, New Zealand, Canada, and several European countries have already retired their one cent coins.

However, small businesses are wary of the change, as the penny helps with psychological pricing to entice customers.

What they're saying:

"People will not pay, even though it's one penny more. A lot of people have this level they will not cross, and that level, sometimes, is that penny," says Three Brothers Bakery owner Bobby Jucker. "I think it's gonna' have an effect on our business, and I hope it's not in a negative way."

The Source: U.S. Mint and NY Times, and Three Brothers Bakery owner Bobby Jucker. 

Donald J. TrumpConsumerBusiness