The president could promptly end the production of new pennies, but phasing out the coin would take time and mean changes at retail stores, economists said.

But when President Donald Trump issued an order to stop minting the penny entirely, I couldn't help but wonder what role that humble copper-colored coin still plays in the US economy and what might actually change.

One-cent U.S. coin known as the penny is shown in this illustration picture, after U.S. President Trump informed on his Truth Social media account that he instructed the Secretary of the US Treasury to stop producing new pennies,

On Sunday night, President Trump announced on his Truth Social network his newest target for elimination: the penny. “For far too long the United States has minted pennies which literally cost us more than 2 cents.

President Donald Trump announced on social media platform Truth Social he has directed the Treasury Department to stop producing new pennies.