S. 1525 — Common Cents Act

This section terminates production of one-cent coins for general circulation no later than one year after enactment (except for numismatic collectors, for which coins must be sold at a price covering full production costs, including fixed and variable costs). All one-cent coins remain legal tender for all debts, public and private.

This section requires, notwithstanding other laws, persons selling goods or services, making cash transfers, or paying cash wages to round the total transaction amount—including taxes—to the nearest 5 cents when paid with legal tender as follows: (1) down if ending in 1, 2, 6, or 7 cents; and (2) up if ending in 3, 4, 8, or 9 cents. Exceptions apply to transactions totaling $0.01 or $0.02 (rounded up to $0.05) and all non-cash payments (e.g., checks, credit cards, electronic transfers); effective one year after enactment.