President Trump says he has ordered the US government’s Treasury Department to stop minting new pennies.
“For far too long the United States has minted pennies which literally cost us more than 2 cents. This is so wasteful!” Mr Trump wrote on his social media site Truth Social.
He added: “I have instructed my Secretary of the US Treasury to stop producing new pennies.”
The President has been in office for three weeks now – and cost-cutting has been a central focus of his administration.
So far, he has dismissed entire agencies and large numbers of federal workers from their roles.
Mr Trump wrote online: “Let’s rip the waste out of our great nations budget, even if it’s a penny at a time.”
He uploaded the post after attending the first half of the Super Bowl with his children Ivanka and Eric Trump.
The Republican, who was the first sitting president to attend the Super Bowl on Sunday – was greeted with a mix of cheers and boos.
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The penny was first issued by the government in 1793 – and features President Abraham Lincoln on one side.
