President Donald Trump announced his plans to cease production of the penny via his Truth Social account on Feb. 9.

Truth Social is a social media platform launched by Trump following his ban from X, formerly known as Twitter.

Trump has instructed the United States Treasury Secretary Scott Bessent to end the production of the 1 cent coin.

Since 1909, the penny has sported the likeness of Abraham Lincoln, the 16th president of the U.S., born in Kentucky. 

Kentuckians still use the penny every day, even going as far as to price products in their stores by the penny, according to WYMT.

According to the United States Mint, the cost of producing pennies has nearly tripled, going from 1.76 cents to produce in 2020 to 3.69 cents in 2024.

The U.S. Mint is the sole producer of legal tender coins and it is responsible for the production of coinage used for trade and commerce, according to the U.S. Mint website.

According to the U.S. 2024 Annual Report, $85.3 million was spent making pennies in the 2024 fiscal year.

Supporters of ending penny production include Colorado Gov. Jared Polis, who said he views it as a great move.

“Eliminating the penny will help save people money and support our environment since producing them leads to poorer air quality and large extractions of key minerals. Let’s take this step to save taxpayer money, meet the needs of consumers, and better protect our environment,” Polis said. 

Economists have long discussed the end of the penny, according to U.S. News. Opposers of the end of the penny include the advocacy group Americans for Common Cents (ACC).

The ACC strongly disagrees with the elimination of the penny, saying it would increase government losses, such as increased spending on production of the nickel, according to a press release.

Efforts should shift in focus to finding a cheaper way to produce the nickel, moving away from the Cupro-Nickel composition, rather than eliminating the penny to save taxpayer dollars, according to the ACC.

“The government won’t save money if the penny is eliminated. Such a change would have a massive negative impact on the US Mint’s cost structure,” ACC Executive Director Mark Weller said.