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End of Penny Production: Cash Transactions Rounded to Five Cents

This law mandates the cessation of minting one-cent coins (pennies) for general circulation, requiring cash transactions to be rounded to the nearest five cents. While existing pennies remain legal tender, their gradual removal simplifies daily cash payments and aims to reduce government minting costs.
Key points
The Treasury will stop producing one-cent coins (pennies) for general use, though production for collectors will continue.
Cash transactions will be rounded up or down to the nearest five cents, affecting the final price paid for small purchases.
All existing one-cent coins retain their value and remain legal tender for debts and taxes.
The Treasury Secretary is authorized to change the composition of the five-cent coin (nickel) to reduce production costs.
article Official text account_balance Process page
Placed on Calendar
Citizen Poll
No votes cast
Additional Information
Print number: 119_HR_3074
Sponsor: Rep. McClain, Lisa C. [R-MI-9]
Process start date: 2025-04-29
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Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Common Cents Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_HR_3074.

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 2025-04-29.

What are the main provisions?

Key points include:

  • The Treasury will stop producing one-cent coins (pennies) for general use, though production for collectors will continue.
  • Cash transactions will be rounded up or down to the nearest five cents, affecting the final price paid for small purchases.
  • All existing one-cent coins retain their value and remain legal tender for debts and taxes.
  • The Treasury Secretary is authorized to change the composition of the five-cent coin (nickel) to reduce production costs.
What is the specific legal status?

The current status is Placed on Calendar.

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. McClain, Lisa C. [R-MI-9].

What is the latest detailed status?

The latest detailed status is: Placed on the Union Calendar, Calendar No. 192.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-24.

CATEGORIES

Economy