The #USMint has made its final order of #penny blanks and plans to stop producing the coin when those run out, a Treasury Department official confirmed. An immediate annual savings of $56 million in reduced material costs is expected by stopping penny production, according to the official, who was not authorized to discuss the matter publicly and spoke on condition of anonymity to preview the news. In February, President Donald Trump announced that he had ordered his administration to cease production of the 1-cent #coin. “For far too long the United States has minted pennies which literally cost us more than 2 cents. This is so wasteful!” Trump wrote at that time. “I have instructed my Secretary of the US Treasury to stop producing new pennies.” The nation’s treasury secretary has the authority to mint and issue coins “in amounts the secretary decides are necessary to meet the needs of the United States.” Advocates for ditching the penny cite its high #productioncost — almost 4 c...