U.S. Treasury Ends Penny Production After 231 Years | Trump and Elon Musk React. In a historic move, the U.S. Treasury has announced it will stop producing pennies starting next year, marking the end of a 231-year tradition. President Trump called the coins “wasteful,” and Elon Musk’s Department of Government Efficiency (DOGE) supported the decision based on rising production costs. With each penny now costing nearly 4 cents to mint, the government expects to save $56 million annually. Learn how this shift could impact store prices, fundraising, and the future of coin-based currency in America. 🔔 Subscribe for more short-form financial news and trending updates. Check out benzinga.com for complete coverage along with all the latest financial news and data! Follow us on socials: Instagram: instagram.com/benzinga Facebook: facebook.com/benzinga TikTok: tiktok.com/@benzinga X: x.com/benzinga Disclaimer: Trading in financial market...