Lawmakers are ready to stop the government from wasting money on nickels that cost 13 cents to make. This follows the official decision to stop making pennies because they cost three times their face value. The federal government will lose roughly eight cents for every single nickel it produces right now.
Rep. Lisa McClain led the push in the House to fix this financial loss. She argued that the current metal mix is a bad deal for taxpayers. McClain told the New York Post that Washington ought to resolve the issue rather than squander additional taxpayer funds, since producing a five-cent coin costs 13 cents. She wants the Treasury to use cheaper materials for the nickel coin. The goal is to save money without confusing the machines we use every day. Current nickels are made from a mix of 25% nickel and 75% copper. This expensive mix drives the high cost that lawmakers want to end. The new plan would use a zinc core with a nickel outer layer.
Per the Daily Wire, this change would allow the Mint to make the coin for less money. Sen. Cynthia Lummis brought the bill to the Senate to match the House action. She noted that cash is being used less for everyday items. The Daily Wire reported that Lummis mentioned an increasing number of Americans use stablecoins, debit cards, and credit cards for daily transactions that previously involved coins or cash. She believes the nickel should stay, but it must be cheaper to make.
Fox News quoted Lummis expressing hope that a less expensive method for nickel production will be found to ensure its economic viability for many years ahead. Both the House and Senate passed the Common Cents Act with unanimous support. The bill now sits on President Donald Trump’s desk for his signature. Per the New York Post, the legislation has not yet received the President’s signature to become law. Treasury Secretary Scott Bessent has already suggested changes to the coin.
Bessent told the Daily Wire that the nickel’s alloy composition could be altered and the coin retooled so its value matches its face value. Before the new coins go into circulation, they must pass strict testing. Fox News noted that the proposal allows for a cheaper nickel mix if tests confirm it lowers production expenses without majorly interfering with coin-operated machines. Lawmakers want to ensure vending machines and parking meters still work. The testing phase is a required step before any new coins are minted.
Rep. McClain called the bill a simple reform that brings common sense to government. She told the Daily Wire that her legislation offers Treasury a route to produce nickels more cheaply while preserving current American usage patterns. This straightforward reform conserves funds and introduces slightly more practical reasoning into government operations.The bill aims to stop the loss of eight cents per coin immediately. This change stops the government from spending more than the coin is worth. Sen. Lummis compared the penny to the old half-cent coin that was retired long ago.
The Daily Wire reported her observation that the half-cent coin was discontinued once it became unnecessary, a status the penny has now similarly attained. President Trump must decide if he will sign the bill into law. The decision will determine when the new, cheaper nickels start appearing in our change.
