{"id":2438434,"date":"2025-05-23T13:47:00","date_gmt":"2025-05-23T17:47:00","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bessent-america-can-retool-nickel-as-treasury-ends-penny-production\/"},"modified":"2025-05-23T13:49:49","modified_gmt":"2025-05-23T17:49:49","slug":"bessent-america-can-retool-nickel-as-treasury-ends-penny-production","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bessent-america-can-retool-nickel-as-treasury-ends-penny-production\/","title":{"rendered":"Bessent: America can &#8216;retool&#8217; nickel as Treasury ends penny production"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbessent-america-can-retool-nickel-as-treasury-ends-penny-production%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2438434&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>In a recent statement, Treasury Secretary Scott bessent proposed that the United States could &#8220;retool&#8221; the nickel in response to the Treasury Department&#8217;s announcement to halt <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/trump-orders-treasury-to-stop-wasteful-production-of-pennies-washington-examiner\/\" title=\"Trump orders ... to stop \u2018...\u2019 ... of pennies - Washington Examiner\">penny production<\/a> by early 2026.Currently,it costs approximately 14 cents to produce a nickel,which has a value of only 5 cents,leading Bessent to suggest altering the nickel&#8217;s alloy composition to ensure it retains its worth. This change comes after the decision to cease penny production, described by former President trump as wasteful, where the cost to produce a penny exceeds its value.The move is anticipated to simplify transactions as businesses will need to round prices to the nearest five cents. This initiative has <a href=\"https:\/\/amzn.to\/3YuVZYV\" >garnered bipartisan support<\/a>,with politicians like Senator Kirsten Gillibrand highlighting the penny as outdated and advocating for a shift towards a more efficient monetary system.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<p><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><\/p>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-header-search-button-mob dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-mobile-search-icon td-icon-search\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div class=\"tdb-drop-down-search\" aria-labelledby=\"td-header-search-button\">\n<div class=\"tdb-drop-down-search-inner\">\n<form method=\"get\" class=\"tdb-search-form\" action=\"https:\/\/www.washingtonexaminer.com\/\"><\/form>\n<div class=\"tdb-aj-search\"><\/div>\n<\/div>\n<\/div>\n<p><a href=\"http:\/\/www.washingtonexaminer.com\/#\" role=\"button\" aria-label=\"Search\" class=\"tdb-head-search-btn dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-search-icon td-icon-search\"><\/i><\/a><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<h1 class=\"tdb-title-text\">Bessent claims America can &lsquo;retool&rsquo; nickel as Treasury pledges to end penny production<\/h1>\n<div><\/div>\n<div class=\"tdb-title-line\"><\/div>\n<\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div id=\"Brid_2129057\" class=\"tpd-featured-video bridtv\"><\/div>\n<p><a href=\"https:\/\/www.washingtonexaminer.com\/tag\/treasury\" target=\"_blank\" rel=\"noopener\" title=\"\">Treasury<\/a> Secretary <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/scott-bessent\" target=\"_blank\" rel=\"noopener\" title=\"\">Scott Bessent<\/a>&nbsp;claimed Friday that the United States can &lsquo;retool&rsquo; the <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/money\" target=\"_blank\" rel=\"noopener\" title=\"\">nickel<\/a> following an announcement that the <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/treasury-department\" target=\"_blank\" rel=\"noopener\" title=\"\">Treasury Department<\/a> will cease all <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/currency\" target=\"_blank\" rel=\"noopener\" title=\"\">penny<\/a> production by early 2026.<\/p>\n<p>&ldquo;I think we can retool the nickel and change the composition of the alloys so that a nickel is worth a nickel,&rdquo; Bessent said during an appearance on Fox News&rsquo;s&nbsp;<em>America&rsquo;s Newsroom<\/em>. <\/p>\n<div class=\"recommended-stories\">\n<h2>Recommended Stories<\/h2>\n<ul>\n<li><a href=\"https:\/\/www.washingtonexaminer.com\/policy\/finance-and-economy\/3414645\/june-social-security-direct-payment-worth-967-goes-out-11-days\/\">June Social Security direct payment worth $967 goes out in 11 days<\/a><\/li>\n<li><a href=\"https:\/\/www.washingtonexaminer.com\/policy\/finance-and-economy\/3384692\/may-social-security-direct-payment-967-dollars-out-12-days\/\">May Social Security direct payment worth up to $967 goes out in 12 days<\/a><\/li>\n<li><a href=\"https:\/\/www.washingtonexaminer.com\/policy\/finance-and-economy\/3384801\/capital-one-discover-merger-credit-card-regulators-approve\/\">Credit card regulators approve Capital One and Discover merger<\/a><\/li>\n<\/ul>\n<\/div>\n<div class=\"article-paywall\">\n<p>The total cost of making one nickel, worth 5 cents, is estimated to be around 14 cents, <a href=\"https:\/\/www.moneydigest.com\/1794993\/the-cost-to-make-every-major-us-coin-more-than-thought\/\" target=\"_blank\" rel=\"noopener\" title=\"\">according<\/a> to a report.<\/p>\n<div style=\"width: 100%; max-width: 640px; max-height: 360px; min-width: 320px; min-height: 180px; overflow: hidden;\">\n<div style=\"position: relative; width: 100%; padding-top: 56.25%;\"><iframe src=\"https:\/\/share.grabien.com\/share.php?id=2949964&amp;userid=11311&amp;loginid=9421&amp;playercolor=%23000000&amp;playersize=auto&amp;code=1b70147bd6f0e160a519bbd2fa34ae21\" style=\"position: absolute; top: 0px; left: 0px; width: 100%; height: 100%; border: 0px;\" allowfullscreen><\/iframe><\/div>\n<\/div>\n<p>As currently struck, the coin&rsquo;s composition is approximately 75% copper and 25% nickel, the report noted.<\/p>\n<p>Bessent&rsquo;s suggestion to change nickel composition arrives following the announcement of <span style=\"box-sizing: border-box; margin: 0px; padding: 0px;\"><a href=\"https:\/\/www.washingtonexaminer.com\/policy\/finance-and-economy\/3419396\/treasury-department-end-penny-production-2026\/\" target=\"_blank\">eliminating<\/a><\/span>  penny production.<\/p>\n<p>The move to cease penny production will require businesses to begin rounding up or down to the nearest 5 cents, and a final order of penny blanks was made for the Treasury this month.<\/p>\n<p>&ldquo;For far too long the United States has minted pennies which literally cost us more than 2 cents. This is so wasteful! I have instructed my Secretary of the US Treasury to stop producing new pennies,&rdquo; President Donald Trump said in a February post to Truth Social following a directive to stop the coin&rsquo;s wasteful production.<\/p>\n<p>&ldquo;Let&rsquo;s rip the waste out of our great nations budget, even if it&rsquo;s a penny at a time.&rdquo;<\/p>\n<p><strong><a href=\"https:\/\/www.washingtonexaminer.com\/news\/white-house\/3315331\/trump-orders-treasury-stop-wasteful-production-pennies\/\" target=\"_blank\" rel=\"noopener\" title=\"\">TREASURY DEPARTMENT PLEDGES TO END ALL PENNY PRODUCTION BY EARLY 2026<\/a><\/strong><\/p>\n<p>The push to eliminate penny production has received support from lawmakers on both sides of the political aisle.<\/p>\n<p>&ldquo;The penny is outdated and inefficient and no longer serves the needs of our economy,&rdquo; Sen. Kirsten Gillibrand (D-NY) said in a statement. &ldquo;By suspending its production, we can reduce government spending, streamline transactions, and move toward a more practical financial system. It&rsquo;s time to invest in a future that works for the 21st-century economy, and that starts with <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/transport-locked-down-in-chinas-shanghai-as-asymptomatic-covid-cases-surge\/\" title=\"Transport locked down in China\u2019s Shanghai as asymptomatic COVID cases surge\">suspending production<\/a> of the penny.&rdquo;<\/p>\n<\/div>\n<p> <script data-cfasync=\"false\" src=\"http:\/\/www.washingtonexaminer.com\/cdn-cgi\/scripts\/5c5dd728\/cloudflare-static\/email-decode.min.js\"><\/script><script>!function(){var g=window;g.googletag=g.googletag||{},g.googletag.cmd=g.googletag.cmd||[],g.googletag.cmd.push(function(){g.googletag.pubads().setTargeting(\"has-featured-video\",\"true\")})}();<\/script><script>var _bp=_bp||[];_bp.push({\"div\":\"Brid_2129057\",\"obj\":{\"id\":\"27789\",\"width\":\"1280\",\"height\":\"720\",\"stickyDirection\":\"below\",\"video\":\"2129057\"}});<\/script><script defer src=\"https:\/\/services.brid.tv\/player\/build\/brid.min.js\"><\/script><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bessent says U.S. can modify nickel as Treasury ends penny production<\/p>\n","protected":false},"author":2644,"featured_media":2438435,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2025\/05\/BeFunky-collage-scaled-1024x558.webp","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[45545,55796,55797,3778],"class_list":["post-2438434","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","tag-bessent","tag-nickel","tag-penny-production","tag-treasury"],"fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2025\/05\/BeFunky-collage-scaled-1024x558.webp","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2438434","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/2644"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2438434"}],"version-history":[{"count":3,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2438434\/revisions"}],"predecessor-version":[{"id":2438438,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2438434\/revisions\/2438438"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2438435"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2438434"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2438434"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2438434"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}