House Unanimously Votes to Eliminate 1-Cent Coin Permanently
Americans may soon no longer be able to offer a penny for their thoughts — because the 1-cent coin will be relegated to the ash heap of history.
The House of Representatives voted to send the smallest piece of U.S. currency the way of the dodo on Monday, passing the bipartisan Common Cents Act in a unanimous vote.
In addition to blocking the Treasury from minting any more pennies save for collector coins, the bill would also set up a framework for cash transactions to be rounded to the nearest 5 cents, in order to eliminate the need for pennies altogether.
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