THE PENNY DROPS

House Votes to Eliminate Coin After 232 Years

The Treasury estimates ending production would save $56 million annually.

The penny is one step closer to disappearing after the House unanimously approved legislation to permanently end its production. The bipartisan Common Cents Act would bar the Treasury from minting the one-cent coin for general circulation, although the existing ones would remain legal tender and collector pennies could still be produced. The measure also creates a framework allowing cash purchases to be rounded to the nearest five cents when exact change is unavailable. Other payments would not be affected, while cash wages would be rounded up. The U.S. Mint stopped producing pennies in November 2025 after 232 years, after a sharp rise in production costs. Each penny was costing nearly four cents to make, thanks to a surge in the market value of copper and zinc. The Treasury estimates ending production would save $56 million annually. The bill also allows testing cheaper materials for nickels which, like the penny, has been the subject of rising production costs for nearly 20 years.