Lawmakers push to redesign nickel as penny phase-out gains momentum

Both the House and Senate have passed the Common Cents Act, which previously called for ending penny production and now includes a provision for studying cheaper nickel compositions. Lawmakers note that each nickel costs roughly eight cents to mint, a loss borne by taxpayers. Lisa McClain said the measure would give the Treasury a path to cheaper nickels without disrupting everyday transactions.

Senator Cynthia Lummis highlighted the shift toward digital payments and likened the nickel’s fate to the retired half-cent. Treasury Secretary Scott Bessent has expressed confidence the agency can redesign the coin, but the legislation still awaits President Donald Trump's signature, and the White House has not commented on a timeline.