It is unclear whether Trump has the power to unilaterally eliminate the lowly one-cent coin. Currency specifications -- including the size and metal content of coins -- are dictated by Congress.
But Robert K. Triest, an economics professor at Northeastern University,
has argued that there might be wiggle room.
“The process of discontinuing the penny in the U.S. is a little unclear. It would likely require an act of Congress, but the Secretary of the Treasury might be able to simply stop the minting of new pennies,” he said last month.
Members of Congress have repeatedly introduced legislation taking aim at the zinc coin with copper plating. Proposals over the years have attempted to temporarily suspend the penny’s production, eliminate it from circulation, or require that prices be rounded to the nearest five cents, according to the Congressional Research Service.