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It’s not clear whether the president has the authority to stop the manufacture of the 1-cent coin. According to the U.S. Constitution, coinage power, as recognized by the Supreme Court, is “exclusive” to Congress. What is clear is that pennies cost more to make than they are worth. In 2024, the U.S. Mint spent 3.69 cents to manufacture each penny, according to an annual report.
“We believe this order would survive judicial review, which is why this is likely to occur,” Seiberg wrote Monday. “We worry about this leading to a shortage of pennies, which could force merchants to pay banks more for coins. It also adds legal risk for merchants and banks. That could create the crisis needed to force Congress to act.”
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