PHILADELPHIA (AP) — The penny is officially nearing the end of its long run in the United States. The U.S. Mint in Philadelphia, which has produced the 1-cent coin since 1793, will strike its final circulating penny on Wednesday, following an order from President Donald Trump to discontinue the coin due to rising production costs.

Trump cited the inefficiency of minting pennies that now cost nearly four cents each to produce, well above their face value. “For far too long the United States has minted pennies which literally cost us more than 2 cents,” Trump wrote in an online post in February. “This is so wasteful!”

The penny has been a staple of American currency for over 230 years, but in today’s economy, its use has become increasingly symbolic. Most Americans rarely rely on the coin for everyday transactions, and many keep them as collectibles or lucky charms.

The phase-out has raised concerns among retailers, who said the sudden halt in production has left businesses scrambling to adjust to transactions without pennies. The federal government has offered little guidance on handling cash transactions as the coin disappears from circulation.

Despite its decline in practical use, the penny has remained an iconic piece of U.S. history. The Philadelphia Mint, the nation’s first, has been producing billions of these small coins since shortly after Congress passed the Coinage Act of 1792. For many, the final penny marks the end of an era of nostalgia, but also reflects the realities of a largely cashless, digital economy.