In a rare moment of bipartisan harmony, Republicans and Democrats have found common ground, and it’s copper-plated. Yep, it looks like the humble penny may finally be out of circulation for good.
Lawmakers from both sides of the aisle, including Wyoming’s own Senator Cynthia Lummis, have introduced the Common Cents Act, a bill aimed at ending the production of the penny once and for all. It’s a move that, believe it or not, has the backing of fiscal conservatives, progressive reformers, and pretty much anyone who’s ever said, “Do I really need this?” while staring at a pile of loose change on their dresser.
So what’s the beef with Abe Lincoln’s tiniest monument?
Well, it turns out the penny costs three cents to produce. That’s right—every one-cent coin burns a hole in the taxpayer’s pocket to the tune of $85 million a year. You could say it’s the least efficient member of our monetary family. It’s like paying $3 for a $1 taco that no one eats.
Senator Lummis dropped a Wyoming-worthy zinger:
“It just makes cents!”
We see what you did there, Senator.
And while Jackson Hole locals are pretty used to tossing a few extra pennies into the tip jar at Pearl Street Bagels or donating that sad-looking copper stack to the animal shelter jar at the register, even we can admit, it’s usually more clutter than currency.
The Common Cents Act would round cash transactions to the nearest five cents (no change to digital payments), just like Canada, Australia, and New Zealand have done without the world falling apart.
Representatives Lisa McClain (R-MI) and Robert Garcia (D-CA), who co-sponsored the House version, echoed a familiar sentiment:
“We’re pouring millions into a coin no one uses.”
(Except that one grandpa who still insists on exact change at the grocery store. Sorry, Bob.😆)
If passed, the bill would save millions annually, reduce inefficiencies at the U.S. Mint, and officially retire the only coin that costs more than it’s worth, both literally and emotionally.
So as we potentially say goodbye to the penny, let us remember its loyal service: jamming up coin jars, cluttering car cupholders, and gathering dust in couch cushions across America.
Want to read the bill yourself (because we know our Jackson readers are a sharp bunch)? Here’s the full Common Cents Act text.
And remember, next time you’re picking up a huckleberry milkshake at Moo’s or buying fly-fishing flies at JD High Country, don’t bother looking for that last penny in your glovebox. It might just be history.
