PHILADELPHIA – The U.S. ended production of the penny Wednesday, abandoning the 1-cent coins that were embedded in American culture for more than 230 years as symbols of frugality and the price of a person’s thoughts but had become nearly worthless.

When it was introduced in 1793 , a penny could buy a biscuit, a candle or a piece of candy. But now most of them are cast aside to sit in jars or junk drawers, and each one costs nearly 4 cents to make.

“God bless America, and we’re going to save the taxpayers $56 million,” Treasurer Brandon Beach said at the U.S. Mint in Philadelphia before hitting a button to strike the final penny. The coins were then carefully placed on a tray for journalists to see. The last few pennies were to be auctioned off.

Billions of pennies are still in circ

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