Bill that could change the nickel, how you pay with cash passes through House |
Bill that could change the nickel, how you pay with cash passes through House
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Is your old money worth anything?
Is your old money worth anything?
(NEXSTAR) – A new penny, bound for circulation, hasn’t been minted in nearly a year. Yet the U.S. is still working to get rid of it, once and for all.
A step in that process happened Monday in the House of Representatives, where the latest version of the Common Cents Act passed by voice vote. An identical version of the bill passed in the Senate with unanimous consent last month.
The bill passed Monday varies slightly from another version of the Common Cents Act that made its way through the House and to the Senate earlier this year. While that version instructs the Treasury to stop minting the penny, it did not explicitly outline the discontinuation of a coin.
The formal end of the penny may be the chief aspect of the bill, but the Common Cents Act could also impact how you pay with cash and potentially pave the way for the U.S. to get a new nickel. Here’s what to know.
The death of the penny, sort of
The U.S. Mint stopped producing pennies last year, but it has released collectible pennies for America’s 250th anniversary.
The Common Cents Act, if enacted, wouldn’t........