US House passed the Common Cents Act to end penny production, with an exception for collector coins. The bill would round cash transactions to the nea…
1/8The US House has unanimously passed the bipartisan Common Cents Act, moving to permanently end production of the one-cent coin, Fox News reported on September 14. The bill would block the Treasury from minting new pennies, with an exception for collector coins. It would also establish a framework for rounding cash transactions to the nearest five cents.
2/8The penny has been in circulation in the US for 232 years. The US Mint stopped producing pennies in November 2025, according to Fox News. The new legislation, if signed into law by President Donald Trump, would prevent a future administration from reversing that decision.
3/8Why is the penny being phased out? The economics of producing the coin have become a central issue. According to Fox News, the cost of minting a penny had risen to more than three times its face value as of 2025. The Treasury estimated that stopping production would result in immediate annual savings of $56 million.
4/8What happens to existing pennies? Existing pennies will remain legal tender, according to Fox News. So the House vote does not make the pennies already held by Americans worthless. The change is aimed at stopping the production of new pennies, while existing coins can continue to be used.
5/8How will cash payments work? The legislation would create a framework for cash transactions to be rounded to the nearest five cents, removing the need for pennies in everyday cash payments. There is an exception for cash wages: these would have to be rounded upward if the total is not divisible by five cents.
6/8What happens to the nickel? The penny is not the only low-value coin addressed by the legislation. The bill would also allow the US Mint to produce nickels using cheaper materials than those currently used, according to Fox News.
7/8Why did the US stop making pennies? The US Mint stopped producing pennies in November 2025, after 232 years of circulation. Fox News reported that the cost of minting the coin had increased substantially, with production costing more than three times the penny’s face value in 2025. The Treasury estimated $56 million in immediate annual savings from stopping production.
(Photo Credit : AP)
8/8A penny’s final chapter? The penny has been one of the most familiar pieces of US currency for generations. But with production already halted and Congress now moving to put the change into law, America’s smallest-denomination coin could be approaching the end of its role in everyday cash transactions. The House vote is the latest step; the bill would still need to be signed into law by President Trump before the change is permanently codified.
