QUINCY (WGEM) - After 232 years, the penny is no longer in production.

The U.S. Mint struck its final penny on Wednesday, Nov. 12 at the request of President Donald Trump , who cited the coin’s increasing production costs.

The one-cent coin costs nearly 3.7 cents to make. U.S. Treasurer Brandon Beach said discontinuing the penny will save the government roughly $56 million.

Many have reacted positively to the announcement, but others are concerned a potential penny shortage may be on the horizon. If circulation declines and businesses run out of pennies to make change for cash purchases, they could lose millions in transactions where change would have to be rounded up the nearest nickel, as required by law in some states.

According to the American Bankers Association, roughly 250

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