The U.S. Mint in Philadelphia will strike its last circulating penny on Wednesday, ending a production run that began in 1793.

President Donald Trump ordered the coin’s phase-out as it now costs nearly 4 cents to produce a 1-cent coin, making it financially inefficient.

While many Americans collect pennies for nostalgia or luck, retailers and banks have faced challenges adjusting to the abrupt end, including handling transactions and rationing supplies.

The Treasury Department expects to save $56 million annually on materials, though the penny remains cheaper to produce than the nickel, the AP has reported.

The final production ceremony in Philadelphia will include Treasury Secretary Scott Bessent and Treasurer Brandon Beach.