Summary

Stops routine production of the one‑cent coin within one year except for limited collector (numismatic) coins that must be sold at prices that cover production costs; the penny remains legal tender. Requires cash payments (including cash wages) to be rounded to the nearest five cents under a specified rule for which cents round up or down; non‑cash payments are not affected. The cash‑rounding rule becomes effective one year after enactment.

Key Points

• Routine minting of the one‑cent coin ends within one year; collector pennies are still allowed if sold to cover costs.
• Pennies remain legal tender and may still be used in transactions.
• Cash payments and cash wages must be rounded to the nearest five cents using the Act's specified rounding rule.
• Very small cash amounts of $0.01 or $0.02 are rounded up to $0.05 under the rule.
• The rounding rule applies only to cash transactions — card and electronic payments are unaffected.
• Rounding and minting changes both take effect one year after enactment (minting cessation within one year; rounding effective one year).
• Treasury's numismatic sales must comply with existing law and at minimum cover production costs.
• Businesses and payroll administrators will need to update cash‑handling, point‑of‑sale, and wage‑payment procedures.

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