Congress Votes to Eliminate Coin After 232 Years

The penny could soon be history for good.

The House of Representatives passed legislation Monday that would permanently end production of America’s 1-cent coin, pushing the penny one major step closer to disappearing after more than two centuries.

The bipartisan Common Cents Act cleared the House by voice vote on Sept. 14. The bill would direct the Treasury Department to stop producing pennies for general circulation while still allowing a limited number to be minted for collectors.

Americans would not have to throw out the pennies already sitting in jars, drawers and cup holders across the country. Existing pennies would remain legal tender and could still be used.

But cash purchases could start looking a little different.

Under the bill, cash transactions that cannot be paid exactly would generally be rounded to the nearest 5 cents, eliminating the need to hand over pennies as change.

Cash wages would receive special protection. If an employee’s cash paycheck could not be divided evenly by 5 cents, the payment would have to be rounded upward rather than down.

Credit cards, debit cards, checks, gift cards and other non-cash payments would continue to be charged to the exact cent.

The move comes after the U.S. Mint stopped producing pennies for general circulation in November 2025, ending a run that stretched back more than 230 years.

But congressional action would make the change permanent and prevent a future administration from simply restarting penny production.

The reason largely comes down to money.

By 2025, producing a single penny reportedly cost the government more than three times the coin’s actual value. Earlier congressional materials put the production cost at roughly 3.7 cents for every 1-cent coin.

The Treasury has estimated that stopping penny production could save the federal government tens of millions of dollars annually.

The legislation was introduced by House Republican Conference Chair Lisa McClain of Michigan alongside Democratic Rep. Robert Garcia of California, making the penny crackdown a rare bipartisan issue on Capitol Hill.

The latest bill also addresses another increasingly expensive coin: the nickel.

It would give the Treasury Department additional flexibility to manufacture nickels using cheaper materials, provided the change lowers costs without creating major problems for coin-operated machines.

Congress also wants to know whether getting rid of the penny creates unintended headaches.

The legislation calls for federal officials to study the effects of the change, particularly on lower-income Americans, older consumers and people who do not regularly use traditional banking services.

The House had already approved an earlier version of penny legislation in July, but the newer Common Cents Act contains a more detailed nationwide system for rounding cash transactions.

If the legislation completes the remaining steps needed to become law, the penny would officially join the growing list of once-familiar pieces of American life headed for the history books.

After more than 200 years, Americans may finally have to stop asking for a penny for someone’s thoughts.