First the penny, now the nickel: Congress moves closer to making big changes with the money in your pocket

First the penny, now the nickel: Congress moves closer to making big changes with the money in your pocket — Live Feedhttps://www.live-feeds.com/feed/first-the-penny-now-the-nickel-congress-moves-closer-to-making-big-changes-with-the-money-in-your-pocketContinuously updated, source-cited coverage. US Senate passes bill to phase out the nickelhttps://www.live-feeds.com/feed/first-the-penny-now-the-nickel-congress-moves-closer-to-making-big-changes-with-the-money-in-your-pockethttps://www.live-feeds.com/feed/first-the-penny-now-the-nickel-congress-moves-closer-to-making-big-changes-with-the-money-in-your-pocket#u44604Mon, 17 Aug 2026 22:26:23 +0000The US Senate has passed the 'Common Cents Act', which could lead to the elimination of the nickel coin and changes in how cash transactions are handled. The bill aims to allow for the rounding of cash transactions to the nearest dime. This move comes after the retirement of the penny. The legislation is intended to reduce the costs associated with producing and circulating coins.Why it mattersThe US has been gradually making changes to its currency system. The penny was recently retired, and now the nickel is in focus. The 'Common Cents Act' is part of a broader effort to