Us Money News

Penny Phaseout Clears Senate as Congress Considers Nickel and Cash-Rounding Rules

Senators approved the Common Cents Act, paving the way to end penny production (final minting in 2025) and to allow retailers to round cash transactions to the nearest five cents when exact change isn’t available, while keeping electronic payments exact; the nickel could be next, though a separate bill to suspend nickel production remains stalled in the House.