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Trump Expected to Sign Common Cents Act Ending Pennies

By Drooid · Sep 29, 2026, 10:24 PM UTC · How we work

Summary

Trump Ends Penny

U.S. President Donald Trump is expected to sign the Common Cents Act, ending penny production.
The Senate passed the Common Cents Act by voice vote, formally ending 234 years of penny minting.
The Mint reports each penny now costs nearly four cents to produce, costing $56 million annually.
The act allows retailers to round cash transactions up or down to the nearest five cents.

Summary

Restaurant Association Warns Losses

The law creates a safe-harbor for businesses that follow cash-rounding guidelines.
The National Restaurant Association warned unchecked rounding could cost restaurants $13 million to $14 million each month.
NRA president Michelle Korsmo said the act gives restaurants clear guidance and simplifies cash handling.
More than one in four restaurant purchases are cash, highlighting the act’s sector impact.

History

Historical Context

In 2012, Canada announced the phase-out of its one-cent coin, ending 136 years of penny circulation nationally across the country. The Royal Canadian Mint reported that producing each cent cost 1.6 CAD, totaling $13 million annually for the Mint in production. Similarly, the 2024 Common Cents Act, championed by President Donald Trump and backed by the National Restaurant Association, will halt penny minting and permit rounding. The change promises Treasury savings of $56 million per year and reshapes retail pricing, echoing Canada’s earlier cost-cutting success nationally policy.

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Trump Ends Penny

U.S. President Donald Trump is expected to sign the Common Cents Act, ending penny production.
The Senate passed the Common Cents Act by voice vote, formally ending 234 years of penny minting.
The Mint reports each penny now costs nearly four cents to produce, costing $56 million annually.
The act allows retailers to round cash transactions up or down to the nearest five cents.

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