'Rip the waste out': Trump vows to abolish pennies in late-night rant

In a late Sunday night announcement, President Donald Trump said the U.S. Treasury has been ordered to stop making pennies.

The coin's elimination would mean the currency — which features an image of President Abraham Lincoln — would eventually work its way out of circulation.

“For far too long the United States has minted pennies which literally cost us more than 2 cents,” Trump posted on Truth Social Sunday evening — at the time he was attending the Super Bowl.

“Let’s rip the waste out of our great nations budget, even if it’s a penny at a time.”

The social media post was the only announcement of the move — no official act has been made.

The cost of making pennies and nickels has outstripped their face value for decades.

But opponents to getting rid of them claim the move would cause inflation by causing prices to be rounded up.

The penny has been produced by the U.S. Mint since 1792.