The US Mint has ceased production of pennies due to high production costs. The last coin struck in Philadelphia marked the end of an era. Here's what it means for the coin's future usage.

U.S. Treasury Secretary Scott Bessent and U.S. Treasurer Brandon Beach will mark the striking of the "final circulating penny," the end of production for a coin that's been used since the 1790s.

President Donald Trump has ordered its demise as costs climb to nearly 4 cents per penny and the 1-cent valuation becomes somewhat obsolete. The U.S. Mint has been making pennies in Philadelphia, the nation's birthplace,