The Penny Is Dead. Now Washington Is Coming For Another Coin

After moving to end penny production, lawmakers are urging the Trump administration to make nickels cheaper to produce, with each five-cent coin costing taxpayers 13 cents to make.

Rep. Lisa McClain (R-MI), the House Republican Conference chairwoman, defended the proposal in comments published Wednesday by Fox News Digital. Her bipartisan Common Cents Act addresses both penny production and the nickel’s composition. Both chambers have passed legislation, but it has yet to receive President Donald Trump’s signature, according to the outlet.

The proposal would allow Treasury to make nickels with a zinc core and a nickel outer layer, replacing the current mixture of 75% copper and 25% nickel. A new composition would be subject to testing to ensure it reduces production costs without significantly disrupting coin-operated machines, such as vending machines. 

Nickels are currently produced at a loss to taxpayers of roughly eight cents per coin.

“If it costs 13 cents to make a five-cent coin, Washington should fix the problem instead of wasting more taxpayer money,” McClain told Fox News Digital. “My bill gives Treasury a path to make nickels at a lower cost without disrupting how Americans use them. It is a simple reform that saves money and brings a little more common sense to government.”

Sen. Cynthia Lummis (R-WY), who led the legislation in the Senate, pointed to Americans’ changing payment habits.

“More and more Americans are paying with credit cards, debit cards and stablecoins for everyday purchases that once would have been made with cash or coins,” she told Fox News Digital.

“The half-cent coin was retired when it was no longer needed, and the penny has now reached that same point. It’s my hope that we can find a cheaper way to produce the nickel so that it remains economically viable for years to come,” Lummis added.

Treasury Secretary Scott Bessent suggested last year that the United States could “retool” the nickel.

“I think we can retool the nickel and change the composition of the alloys so that a nickel is worth a nickel,” Bessent said.

The Treasury Department has already stopped penny production, but a future administration could reverse that decision unless it is written into law. The White House did not respond to Fox News Digital’s request for comment on whether and when Trump plans to sign the legislation.

More from this network:
Domains for Sale · GOTPeople.org · TheDSAPlatform · The Truth About Socialism

Donate to GOTPeople.org