Is Your Cash Becoming Obsolete? The New Law You Need to Watch
Snyder Reports
12,468 views
This could be the end of cash transactions as we know it. The House and Senate just passed the Common Sense Act, which creates a cash rounding framework for merchants and formally phases out the penny. Cash totals would round up or down to the nearest nickel — cash only.
In this video I break down what the bill actually does, why some cash purchases will cost a few cents more and some will cost less, why the Mint stopped making pennies, and why the nickel is now on the chopping block. A nickel costs 13.8 cents to make, the metal price is up, and the Treasury can now explore a cheaper zinc-core composition plus procedures for discontinuing coins in the future.
I’ll also answer the big question: are your pennies and nickels now more valuable, should you keep them, and what banks really want — a move toward digital and what some call the end of cash. Plus my personal take on keeping a small $40 to $50 nickel stash and what not to rush to do at the bank.
What is that one thing YOU are collecting right now? Cars, Pokemon cards, coins? Let me know in the comments.
This is news and education, not financial advice.
⏱️ Timestamps
00:00 - The End of Cash Transactions As We Know It?
00:32 - Senate Passes Common Sense Act, Heads to White House
00:47 - Cash Rounding Explained - Round Up or Down?
01:18 - Why Some Cash Purchases Will Cost More
01:40 - How This Affects You Long Term
02:10 - The Nickel Is Now the Target
04:26 - Correction - What Nickels Are Really Made Of
04:47 - Treasury Cheaper Nickel Plan and Future Coin Cuts
05:20 - Banks Want Digital - Is This the End of Cash?
06:54 - Are Your Pennies and Nickels Now Worth More?
08:30 - My Advice - What To Keep and What To Do
09:28 - What Are YOU Collecting Right Now?
📌 WATCH NEXT:
💰 U.S. Economy & Finance: https://bit.ly/45W7Z8A
👵 Social Security, Medicare & Retirement: https://bit.ly/4xqScu8
🌎 US & World News: https://bit.ly/4zds0ou
🚨 Health/Safety Warnings: https://bit.ly/4ctxZMb
Snyder Reports covers the news that actually affects your wallet and your day-to-day life — Social Security and Medicare changes, congressional action, stock and economic moves, stimulus updates, retirement planning, real estate, and emergency preparedness. If you want to know what's coming before it hits your bank account, subscribe and turn on notifications — we publish daily.
⚠️ #usnews #finance #money #commoncentsact
📝 For Business Inquiries: HomemadeEntrepreneur@gmail.com
This video is not intended to be construed as financial or investment advice — for entertainment/informational purposes only. All information is accurate as of the recording date. Links above may include affiliate links, where the channel may earn a commission at no extra cost to you — this is how we're able to keep providing free daily content.
20 Comments
Nickels can be used over and over again.
The US nickel has always been 75% copper and 25% nickel.
We had Half Cents, 2-Cent pieces and 3-Cent pieces. There was a 3-Cent "silver" piece and a 3-Cent "nickel" piece.
Is Your Cash Becoming Obsolete? The New Law You Need to Watch
Snyder Reports
12,468 views
This could be the end of cash transactions as we know it. The House and Senate just passed the Common Sense Act, which creates a cash rounding framework for merchants and formally phases out the penny. Cash totals would round up or down to the nearest nickel — cash only.
In this video I break down what the bill actually does, why some cash purchases will cost a few cents more and some will cost less, why the Mint stopped making pennies, and why the nickel is now on the chopping block. A nickel costs 13.8 cents to make, the metal price is up, and the Treasury can now explore a cheaper zinc-core composition plus procedures for discontinuing coins in the future.
I’ll also answer the big question: are your pennies and nickels now more valuable, should you keep them, and what banks really want — a move toward digital and what some call the end of cash. Plus my personal take on keeping a small $40 to $50 nickel stash and what not to rush to do at the bank.
What is that one thing YOU are collecting right now? Cars, Pokemon cards, coins? Let me know in the comments.
This is news and education, not financial advice.
⏱️ Timestamps
00:00 - The End of Cash Transactions As We Know It?
00:32 - Senate Passes Common Sense Act, Heads to White House
00:47 - Cash Rounding Explained - Round Up or Down?
01:18 - Why Some Cash Purchases Will Cost More
01:40 - How This Affects You Long Term
02:10 - The Nickel Is Now the Target
04:26 - Correction - What Nickels Are Really Made Of
04:47 - Treasury Cheaper Nickel Plan and Future Coin Cuts
05:20 - Banks Want Digital - Is This the End of Cash?
06:54 - Are Your Pennies and Nickels Now Worth More?
08:30 - My Advice - What To Keep and What To Do
09:28 - What Are YOU Collecting Right Now?
📌 WATCH NEXT:
💰 U.S. Economy & Finance: https://bit.ly/45W7Z8A
👵 Social Security, Medicare & Retirement: https://bit.ly/4xqScu8
🌎 US & World News: https://bit.ly/4zds0ou
🚨 Health/Safety Warnings: https://bit.ly/4ctxZMb
Snyder Reports covers the news that actually affects your wallet and your day-to-day life — Social Security and Medicare changes, congressional action, stock and economic moves, stimulus updates, retirement planning, real estate, and emergency preparedness. If you want to know what's coming before it hits your bank account, subscribe and turn on notifications — we publish daily.
⚠️ #usnews #finance #money #commoncentsact
📝 For Business Inquiries: HomemadeEntrepreneur@gmail.com
This video is not intended to be construed as financial or investment advice — for entertainment/informational purposes only. All information is accurate as of the recording date. Links above may include affiliate links, where the channel may earn a commission at no extra cost to you — this is how we're able to keep providing free daily content.