24 Hrs
Source:
USA TODAY
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Congress debates continued use of pennies
The U.S. has stopped minting pennies, with production ending in November, due to their cost exceeding value. Congress has approved the Common Cents Act, allowing retailers to round cash transactions to the nearest five cents to address penny shortages and simplify change-making, while pennies remain legal tender. The bill also aims to legalize rounding across all states, despite existing laws in some areas prohibiting it, and signals potential future phase-outs of nickels due to similar cost concerns. Most pennies in circulation still retain their face value, although rare pennies like the 1943 copper penny have collectible worth.
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