Common Cents Act
The source supplies the latest action, but no lifecycle stage.
Latest action (10 Aug 2026): Held at the desk.
What this bill does
The Common Cents Act would direct the U.S. Treasury to stop minting new pennies for general circulation, though existing pennies would remain legal tender and the Treasury could still produce pennies as collectible items. It also sets rules for rounding cash transactions to the nearest 5 cents when exact change isn't available, updates the composition rules for 5-cent coins, and adds a process (advance notice and a briefing to congressional committees) before the Treasury can discontinue any other circulating coin in the future.
The bill affects anyone who pays or receives cash in transactions, including retail businesses, financial institutions, and employers making cash payments to employees. It sets specific rounding rules — generally down for totals ending in 1, 2, 6, or 7 cents, and up for totals ending in 3, 4, 8, or 9 cents — and shields businesses that follow these rounding practices from being found in violation of other federal, state, or tribal laws for doing so, though it does not override minimum wage, overtime, or paid leave requirements. It only applies to cash transactions, not card, check, or electronic payments. The bill also requires the Federal Reserve to study and report on the impact of ending penny production, including effects on low-income, older, and unbanked or underbanked consumers.
The bill passed the Senate by unanimous consent on August 7, 2026, with an amendment. It now goes to the House of Representatives, which would need to pass it (either as amended or in a reconciled version) before it could go to the President to be signed into law.
Plain-English summary generated by Bill100 AI from the official record. Always verify against the source below.
Official summary
Common Cents Act
This bill ends the production of the penny for general circulation, requires rounding to an amount divisible by five for the payment or transfer of cash, and allows the nickel to be composed of different material.
The Department of the Treasury must stop producing the penny, except to meet collector needs. The penny shall continue to be legal tender.
Any person selling goods or services in a cash transaction, entering into other transfers of cash, or paying cash wages to an employee must round the payment up or down in accordance with the bill.
The bill also allows Treasury to discontinue the minting for circulation of any coin if Treasury follows procedures as outlined by the bill, including providing notice and a briefing to Congress.
The Federal Reserve Board must periodically report on a strategic plan for the acceptance of penny orders and deposits at commercial coin terminals that provide services under agreements with Federal Reserve banks.
Finally, the bill allows for a different material composition of the nickel. In addition to being made from an alloy of copper and nickel, the nickel may also be clad with an inner core of zinc and an outer layer of nickel.
Timeline
10 Aug 2026
Held at the desk.
Common questions
- What does S. 1525 do?
- The Common Cents Act would direct the U.S. Treasury to stop minting new pennies for general circulation, though existing pennies would remain legal tender and the Treasury could still produce pennies as collectible items. It also sets rules for rounding cash transactions to the nearest 5 cents when exact change isn't available, updates the composition rules for 5-cent coins, and adds a process (advance notice and a briefing to congressional committees) before the Treasury can discontinue any other circulating coin in the future. The bill affects anyone who pays or receives cash in transactions, including retail businesses, financial institutions, and employers making cash payments to employees. It sets specific rounding rules — generally down for totals ending in 1, 2, 6, or 7 cents, and up for totals ending in 3, 4, 8, or 9 cents — and shields businesses that follow these rounding practices from being found in violation of other federal, state, or tribal laws for doing so, though it does not override minimum wage, overtime, or paid leave requirements. It only applies to cash transactions, not card, check, or electronic payments. The bill also requires the Federal Reserve to study and report on the impact of ending penny production, including effects on low-income, older, and unbanked or underbanked consumers. The bill passed the Senate by unanimous consent on August 7, 2026, with an amendment. It now goes to the House of Representatives, which would need to pass it (either as amended or in a reconciled version) before it could go to the President to be signed into law.
- Has S. 1525 become law?
- The source does not supply a confirmed lifecycle stage for S. 1525. Check the latest action and official source below.
- Who sponsored S. 1525?
- S. 1525 was sponsored by Sen. Lummis, Cynthia M. [R-WY] (R-WY), with 3 cosponsors.
- What's the latest action on S. 1525?
- Held at the desk. (10 Aug 2026).
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