Americans for Common Cents (ACC) conducts research and provides information to Congress and the Executive Branch on the value and benefits of the penny.
June 22, 2022 The House of Representatives passed Representative Don Payne’s (D-NJ) bipartisan Payment Choice Act -HR 4395 -on June 15. The legislation protects the right to pay in cash at retail establishments for transactions under $2,000. The Payne bill, which at the time of passage had 49 cosponsors, was adopted on a vote of Read more about House Passes Legislation to Protect Cash Use[…]
Miami-Dade has passed an ordinance that would require businesses in the Floridian county to accept cash, based on concerns that business refusal to accept cash and coin damages minority communities and overall choice. Many states including Arizona, Colorado, Massachusetts, New Jersey and Rhode Island already have pro-cash legislation, as do cities including New York, Philadelphia and San Read more about Increase in Legislation to Defend Payment Choice[…]
Coin Task Force Reports on Disruption in Coin Circulation Posted on February 18, 2022 In response to the COVID-19 pandemic, the US Mint formed a task force to examine the impact of the coronavirus pandemic on coin flows and the use of cash by American consumers and businesses. The U.S. Coin Task Force is comprised Read more about U.S. Coin Task Force report on the reasons for the disruption in coin circulation and what the future of coins looks like.[…]
On December 2, 2020 the House of Representatives passed legislation that would allow the Mint to change the composition of coins. H.R. 7995 sponsored by Congressman Mark Amodei (R-NV) would permit a change in the metal content of our coins if it reduces costs and is seamless, which is determined by verifying that the coins Read more about House Passes Coin Metal Legislation[…]
The U.S. Mint is taking steps to alleviate coin shortages caused by the COVID-19 pandemic. In the second half of 2020, the Mint expects production increases to 1.35 billion coins per month that would add up to a projected total of 14.2 billion coins produced in 2020 according to Statista. In June, the Federal Reserve Read more about US Mint to Increase Coin Production[…]
Temporary Coin Shortages Expected to Fade as Businesses Reopen June 23, 2020 05:34 PM Eastern Daylight Time WASHINGTON–(BUSINESS WIRE)–In testimony before a House Congressional Committee last week, Federal Reserve Chairman Jerome Powell said that we may see spot coin shortages around the country as a result of the state economic shutdowns that began in March Read more about Coronavirus Impacts Flow of Money[…]
COVID-19 has substantially altered our country’s economic and social landscape, including how we purchase goods. Part of this change is a fear that the virus can be transmitted by currency. Amidst the spread of misinformation suggesting coins are a greater transmitter of viruses and bacteria than other surfaces, consider the mighty penny and its properties. Read more about Copper: An Ally to Fight Viruses and Bacteria[…]
Cash in a World of Digital Payments ACC Testimony before the House Financial Services Task Force on Financial Technology Posted on January 31, 2020 Americans for Common Cents provided testimony for Members of the House Task Force on Financial Technology. The January 30 hearing reviewed the rise of mobile payments and asked the question, “Is Cash Read more about 2020 Testimony of Mark Weller Before the House Task Force on Financial Technology: “Is Cash Still King?”[…]
Appeared in MorningConsult CASH AS A DEFENSE TO CYBERTERRORISM Posted on January 13, 2020 As a result of the killing of Quds Force leader Qassem Soleimani, the United States faces a tangible threat that Iran may employ its cyberwarfare prowess in retaliation. A cyber response is especially worrisome, as Iran has previously demonstrated its ability Read more about Cash is a Defense to Cyberterrorism. Cash is convenient, private and free to use. Cash is also the safest payment method, which is why cash demand skyrockets during crises, be it man-made or a natural disaster. (MorningConsult)[…]
Penny popularity comes at a time when stores are experimenting with cashless payment. More than two-thirds of Americans (68%) want to keep the penny, according to a poll released by Americans for Common Cents (ACC). (Graphic: Business Wire) April 25, 2019 07:29 AM Eastern Daylight Time WASHINGTON–(BUSINESS WIRE)–Over two-thirds of Americans (68%) want to keep Read more about Strong Support for the Penny in Recent Poll[…]