WASHINGTON — The Senate has passed legislation to formally end production of pennies for general circulation and establish rules for rounding cash payments as the coins become harder to obtain.
The Senate measure would put into law the end of routine penny production and provide a federal framework for rounding cash transactions to the nearest nickel. Its sponsors — Sens. Cynthia Lummis (R-WY).; Kirsten Gillibrand (D-NY).; James Lankford (R-OK), and Ron Wyden (D-OR)— estimate ending production would save $56 million a year. That figure is a projection from the bill’s supporters.
“Passage of the Common Cents Act brings much-needed federal certainty to an issue that Main Street financial institutions and local businesses have been managing on their own for months,” America’s Credit Unions President and CEO Scott Simpson said in a statement. “Credit unions stepped up during this gap to protect consumers, often absorbing operational costs directly so that everyday families, seniors, and cash-reliant households never lost a cent. A single, nationwide standard for cash rounding gives credit union members clear, consistent rules. We thank lawmakers for taking decisive, bipartisan action to end the guesswork, and we urge the President to sign this legislation into law without delay.”
As the CU Daily has reported, the U.S. Mint had already stopped making pennies for circulation. It struck its final circulating one-cent coin in November 2025 and said the cost of producing a penny had risen to 3.69 cents. The Mint estimated that about 300 billion pennies remained in circulation. U.S. Mint
A Revised House Bill
The House passed a revised Common Cents Act, H.R. 10167, by voice vote Sept. 14. That version would preserve existing pennies as legal tender, permit the Mint to make pennies for collectors and allow cash totals to be rounded when exact change is unavailable. Payments by card and other noncash methods would still be settled to the exact cent.
The House bill also calls for a federal plan to manage pennies already in circulation, requires advance notice to Congress before production of another circulating coin is discontinued and permits consideration of a less costly composition for nickels. It was received in the Senate and referred to the Banking, Housing and Urban Affairs Committee on Sept. 15.
2 Responses
Buy pennies from ebay & amazon & spend them. No need to round change, no more confusion, & stop retailers from legally pick pocketing customers.
Problem will get worse of the nickel gets discontinued. People need to stop being lazy & spend coins to get coins back into circulation. Can pay your walmart & target & other store credit card bill in store @ customer service. Pay with exact change & help with penny shortage.