The penny, one of the first coins made by the U.S. Mint after its establishment in 1792, now costs more than two cents to produce, Trump said in a post on his Truth Social site shortly after departing the Super Bowl game in New Orleans.

“For far too long the United States has minted pennies which literally cost us more than 2 cents. This is so wasteful!” Trump wrote. “I have instructed my Secretary of the US Treasury to stop producing new pennies.”

While I think that it’s probably something that we should have done a long time ago, I don’t think that the major cost is actually the fact that the production cost is higher than the coin’s face value, but from the cost of needing to handle and process pennies.