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The end of penny production is near.The US Mint has placed its final order of penny blanks and will stop printing the coin when those supplies run out by early next year, according to a Treasury Dept. spokesperson.Production costs for the penny have skyrocketed over the last decade—from 1.3 cents per coin to 3.69 cents. Ending production of the penny is projected to save $56M annually, with more expected from reduced facility usage and other changes as the coin is phased out, per the NYP.Trump has said, “Let’s rip the waste out of our great nation’s budget, even if it’s a penny at a time.”Once there are no longer enough pennies in circulation, businesses will need to round consumer prices up or down to the nearest 5 cents.It’s the most widely printed coin in the US, with 114B pennies in circulation.