US Penny Nears Final Chapter: Congress Sends Bill to Trump to End Production After Over 230 Years
Congress has passed legislation to formally end production of the U.S. penny after more than 230 years, sending the bipartisan Common Cents Act to President Donald Trump after the Senate passed it by unanimous consent on Monday. Congress Moves to Permanently Codify Penny Halt The U.S. Mint had already stopped making circulating pennies in 2025 after Treasury concluded new one-cent coins were no longer needed. The measure gives permanent legal backing to the production halt while keeping existing pennies legal tender. It also allows the Mint to continue limited collector issues and creates a national framework for businesses to round cash transactions to the nearest five cents when exact change is unavailable; electronic and other non-cash payments would still be charged to the exact cent. Rising Production Costs Drive Penny’s Exit The economics drove the change. The Mint says each penny now costs 3.69 cents to produce, up from 1.42 cents a decade ago, and ending circulating production should save about $56 million annually. Pennies accounted for 57% of the Mint’s 5.61 billion circulating coins in fiscal 2024, when it produced roughly 3.2 billion one-cent pieces. Read Also: Gavin Ne
S. penny after more than 230 years, sending the bipartisan Common Cents Act to President Donald Trump after the Senate passed it by unanimous consent on Monday. S. Mint had already stopped making circulating pennies in 2025 after Treasury concluded new one-cent coins were no longer needed.
The measure gives permanent legal backing to the production halt while keeping existing pennies legal tender. It also allows the Mint to continue limited collector issues and creates a national framework for businesses to round cash transactions to the nearest five cents when exact change is unavailable; electronic and other non-cash payments would still be charged to the exact cent. Rising Production Costs Drive Penny’s Exit The economics drove the change. 42 cents a decade ago, and ending circulating production should save about $56 million annually.
2 billion one-cent pieces. Read Also: Gavin Newsom Slams Trump’s ‘Massive Wealth Transfer’ to Oil Companies Amid Fuel Economy Rollback "When it comes to taking on waste and making sure our tax dollars are spent wisely, it’s common sense that we should stop making a coin that costs nearly four times more than it’s worth to produce," Rep. ), a co-sponsor with Rep. ), said when the House advanced the legislation.
The legislation also authorizes Treasury to test a cheaper nickel composition if the alternative cuts production costs without materially disrupting vending machines and other coin-operated equipment. S. " The move subsequently raised questions about cash totals being rounded to the nearest nickel. The Mint says consumers can continue spending pennies indefinitely.
It also plans to keep producing limited numismatic versions, meaning the coin will disappear from routine production rather than vanish from wallets and collections overnight. com