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Penny and Nickel Production Suspension: Savings and Study

This bill proposes a temporary 10-year halt in the production of one-cent and five-cent coins to save taxpayer money. These coins will remain legal tender, and production will continue only for numismatic collectors. A study will also be conducted to assess the economic impact of this change and its effect on daily transactions.
Key points
One-cent and five-cent coins will not be produced for 10 years, aiming for savings.
Existing one-cent and five-cent coins will remain valid for all payments.
Coins for collectors will still be produced and sold at a price covering production costs.
A study will evaluate the savings from the suspension and the impact of rounding cash purchases.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_HR_1270
Sponsor: Rep. Schweikert, David [R-AZ-1]
Process start date: 2025-02-12
Lustra uses Artificial Intelligence. Verify details in source documents.
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Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

To suspend the production of the penny and nickel, to require the Comptroller General of the United States to carry out a study on pennies and nickels, and for other purposes.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_HR_1270.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2025-02-12.

What are the main provisions?

Key points include:

  • One-cent and five-cent coins will not be produced for 10 years, aiming for savings.
  • Existing one-cent and five-cent coins will remain valid for all payments.
  • Coins for collectors will still be produced and sold at a price covering production costs.
  • A study will evaluate the savings from the suspension and the impact of rounding cash purchases.
What is the specific legal status?

The current status is Introduced.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Schweikert, David [R-AZ-1].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Financial Services.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-22.

CATEGORIES

Economy