President Donald Trump says he has ordered the U.S. Mint to stop producing new pennies. “For far too long the United States has minted pennies which literally cost us more than 2 cents. This is so wasteful!” he posted to social media. “Let’s rip the waste out of our great nations [sic] budget, even if it’s a penny at a time.”
The problem is, the U.S. Constitution only gives Congress the power “to coin money, regulate the value thereof, and of foreign coin, and fix the standard of weights and measures.” (Article I, Section 8)
The U.S. President has no legitimate power over the currency.
My two cents worth! I want every cent of change I'm due! Seems as though we got no "hope and change" with him, either. If a penny can be made at lesser cost, do that. Doing away with the penny would also "erase" Abraham Lincoln's visage from a coin. A friend brought that to my attention. Is there any subtle messaging in that? I "fight" for every cent I need. Costs will just be rounded-up and increased by eliminating the penny.