The U.S. Mint currently spends more to produce a penny than the coin is worth, and pennies increasingly sit unused in jars and drawers rather than circulating. The Common Cents Act would direct the Treasury Secretary to stop minting new pennies for everyday circulation, though existing pennies would remain legal tender for any debt or payment. It also gives the Treasury Secretary flexibility to adjust the metal composition of the nickel, allowing a zinc-and-nickel blend instead of the current copper-and-nickel mix, to bring down its production cost, since nickels also currently cost more to make than they're worth. Cash-paying customers and retailers would likely need to start rounding purchases to the nearest five cents once pennies stop being minted, though prices paid by credit or debit card would be unaffected.
Congressional Summary
Common Cents ActThis bill generally ends the production of the penny and requires rounding to the nearest amount divisible by five for the payment or transfer of cash.The Department of the Treasury must stop producing the penny, except to meet collector needs. The penny shall continue to be legal tender.Any person selling goods or services in a cash transaction, entering into other transfers of cash, or paying cash wages to an employee must round the payment up or down in accordance with the bill.The bill takes effect one year after the date of enactment.
Legislative Subjects
Details
- Congress
- 119th
- Chamber
- House
- Status
- summarized
- Action
- Introduced in House
- Action Date
- 2025-04-29
- Date Added
- 2026-07-09
- Source
- Congress.gov →
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