PHILADELPHIA — The U.S. Mint in Philadelphia is set to strike its last circulating penny on Wednesday as the president has canceled the 1-cent coin.

What You Need To Know • The U.S. Mint in Philadelphia is set to strike its last circulating penny as the president has canceled the 1-cent coin • 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, since 1793 • There are billions of pennies in circulation, but they are rarely essential to carrying out financial transactions • Still, many people have a nostalgia for the copper-plated coins, seeing them as lucky or fun to collect

President Donald Trump has ordered it

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