Congress killed the penny — now it’s coming for the 13-cent nickel

Latest & Breaking News on Fox News

NEWYou can now listen to Fox News articles!

It’s common sense that common cents are getting less use in Americans’ daily lives. Congress already took action to eliminate the lowest rung — the penny — and now another coin collecting dust in people’s wallets could be on the chopping block next.

The House and Senate both passed bills earlier this year aimed at eliminating the penny once and for all. The bipartisan Common Cents Act was unanimously approved in each chamber, but has yet to get President Donald Trump’s signature to become law.

It followed the Treasury Department announcing last December that the U.S. Mint would no longer produce pennies, which at the time cost more than three times their value to make.

TRUMP’S FIRST-YEAR GOVERNMENT OVERHAUL DELIVERS CHANGE WASHINGTON HASN’T SEEN SINCE THE 1960S

Now, lawmakers want the administration to act on another portion of their bill, which would direct the Treasury to study the potential of making the nickel with cheaper materials than are currently used.

“If it costs 13 cents to make a five-cent coin, Washington should fix the problem instead of wasting more taxpayer money,” House GOP Conference Chair Lisa McClain, R-Mich., 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-Wyo., who led the bill in the Senate, told Fox News Digital, “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.”

Funeral for the USA Penny with President Abraham Lincoln impersonators in attendance

“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 said.

Nickels are produced at a loss to taxpayers of roughly eight cents per coin, according to the latest data. They are currently made of a mixture comprised of 25% nickel and 75% copper.

The Common Cents Act “authorizes a lower-cost nickel composition if testing shows it will reduce production costs without significantly disrupting coin-operated machines,” such as vending machines, according to a release on McClain’s site.

But it’s not clear that there is much appetite for ending nickel production altogether, at least not yet.

Scott Bessent participates in a Shield of the Americas event during the United Nations General Assembly in New York City.

Treasury Secretary Scott Bessent told Fox News in May 2025 that he believed the U.S. could “retool” the nickel to make it cheaper to produce.

In its December 2025 announcement, the Trump administration projected immediate cost savings of $56 million in stopping penny minting.

CLICK HERE TO DOWNLOAD THE FOX NEWS APP

But the decision could be reversed by any future administration unless Trump signs the bill into law. The White House did not respond to a request for comment on whether and when the president plans to do so.

wp:paragraph