Fox News has reported that pennies could be headed for a permanent retirement. The House of Representatives passed the bipartisan Common Cents Act on September 14, moving legislation forward that would formally end production of the one-cent coin for general circulation. The measure passed by voice vote and now heads to the Senate for consideration.
Of course, Americans have already seen the last newly minted pennies intended for everyday circulation. The U.S. Mint struck its final circulating penny in November 2025, bringing a 232-year production run to an end. Existing pennies are not going anywhere immediately: They remain legal tender and can still be spent, deposited, and used just as before.
Why Pennies Are Going Away
The biggest reason is surprisingly simple: It costs considerably more than a penny to make a penny. According to the Treasury Department, production costs climbed from 1.3 cents per coin about a decade ago to 3.69 cents. The U.S. Mint estimates that suspending production will save roughly $56 million each year in material costs.
Under the House bill, the Treasury would be required to stop producing pennies for general circulation, although collectible versions could still be made. Cash purchases could be rounded to the nearest five cents when exact change is unavailable, while payments made electronically, by credit card, check, gift card, or similar methods would continue to be charged to the exact cent. Existing pennies would retain their value as legal tender.
An End Of An Era For An American Coin
The penny has been part of American currency since 1793, with Abraham Lincoln appearing on the coin since 1909. For generations, pennies filled piggy banks, disappeared between couch cushions, landed in “take a penny, leave a penny” trays, and inspired the familiar promise that finding one heads-up might bring good luck. Its purchasing power may have dwindled, but few American coins have been quite so woven into everyday life.
The legislation would also allow the Mint to use a less expensive composition for nickels if testing shows it would cut production costs without significantly disrupting coin-operated machines. Although the House has now approved this version of the Common Cents Act, it has not yet become law. The Senate previously passed a different version, meaning lawmakers still have to agree on legislation before it can go to the president.