OAN Staff James Meyers
2:56pm – Tuesday, February 11th, 2025
“The View” host Joy Behar was 47 at Tuesday's showth President Donald Trump's call to dismantle penny production is because he “jealous” America's 16th President Abraham Lincoln, his face appears on the coin.
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Behar and other left-wing co-hosts have discussed Trump's plan to stop casting pennies after they argued that it would cost more to produce them than they actually have value. It was there. but, ABC The noon talk show said he just did it to ease his ego.
“I mean it's really – and he's jealous of everyone. Now he's getting rid of penny, he's even jealous of Lincoln,” cried Bear. “He's very small and very small.”
“It's definitely small and trivial,” Sunny Hostin agreed.
This comes after Trump told the Treasury Department he instructed him to stop minting copper coins due to high costs.
“For too long, the US has been minting pennies that cost literally more than two cents,” Trump wrote Sunday in The Truth Society. “This is a lot of waste! I have instructed the US Treasury secretary to stop production of new penny.”
However, Penny supporters argue that Trump should instead evaluate the change in nickel. Because the cost of minting them is above 5 cents' face value. Ultimately, this can be a problem if there are fewer pennies that will cause an upward demand for nickel.
According to 2024, Nickels costs about 13.8 cents on mint Our Mint Report.
“The logical, financially responsible solution is not to eliminate pennies, but to focus on the production of cheaper nickel,” said Americans of Common St. Mark Weller, executive director of the Common St. It was stated in a statement on the 23rd of the month. “This approach will address the real driver of losses while maintaining the functioning of small sects in everyday trading.”
Experts say Congress needs to be involved and pass the law to meet Trump's wishes.
“The process of canceling penny in the US is a bit unknown,” said Robert Triest, professor of economics at Northeastern University. Northeastern Global News.
In 2023, Sens. Joni Ernst (R-Iowa) and Maggie Hasson (DN.H.) reintroduced legislation that changed the composition of penny to reduce costs.
“It's an absolute non-cent that American taxpayers are spending 10 cents to make one nickel. Ernst said in an April 2023 statement: The saved penny is a penny that is not borrowed .”
However, after Congress acted to halt new coins before, he is still optimistic about the change. In 1857, the Legislative Branch allowed the cancellation of the new Half-Cent Coin.
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