The United States has ceased production of the penny after more than 230 years, citing that the one-cent coin now costs almost four cents to produce. This decision, expected to save about $56 million annually, was championed by President Donald Trump as a way to reduce government waste. While the coins will remain in circulation, the phase-out is prompting businesses to adjust prices, which may raise consumer costs through rounding, according to one study. The text also notes that other nations, such as Canada, Australia, and New Zealand, have already retired their lowest-value coins, and attention in the US is now shifting to the nickel, which also costs significantly more to make than its face value.