The U.S. Mint in Philadelphia has printed its last penny, marking a significant step in the 1-cent coin’s demise. Earlier this year, President Donald Trump ordered the penny’s cancellation because the production costs exceed its value. The order comes more than 230 years after the first pennies were pressed in Philadelphia. The Treasury Department has estimated it will save $56 million per year on materials by ceasing to make the coin. Defenders of the penny say the cost is a bargain compared to the nickel, which costs almost 14 cents to mint.