The U.S. Mint on Thursday said it has ordered the last batch of pennies after President Donald Trump ordered the elimination of the little-loved one-cent coin.

The U.S. Treasury Department confirmed Thursday it will phase out production of the penny, fulfilling Trump’s directive to stop minting the one-cent coin. A Treasury spokesperson said the Mint placed its final order for penny blanks this month and will continue production until supplies are depleted,

Per the latest U.S. Mint report, it costs less than six cents to make a dime ($0.0576). To make a quarter, it costs about 15 cents ($0.1468), and nearly 34 cents for a half-dollar ($0.3397).

The Treasury Department said it placed its final order for penny blanks this month as the U.S. moves to end production of the 1-cent coin.

President Donald Trump says the small coin is "so wasteful" and should be abolished, with an estimated saving of $56m (£41m) a year.

The US Mint has made its final order of penny blanks and plans to stop producing the coin when those run out, a Treasury Department official

“You can go to your own bank or credit union and not pay any fee,” said Kimberly Palmer, personal finance expert at NerdWallet. Both NerdWallet and Bankrate offer tip sheets on exchanging coins for cash. Most banks will take an account holder's coins for free, Bankrate reports, but not all, and you may need to roll the coins yourself.

The United States Mint is ready to launch the next $1 coin in its American Innovation series, honoring NASA's retired space shuttle.

“For far too long the United States has minted pennies which literally cost us more than 2 cents. This is so wasteful!” Trump posted on social media. “I have instructed my Secretary of the US Treasury to stop producing new pennies. Let's rip the waste out of our great nations budget, even if it's a penny at a time.”

Treasury Department will take pennies out of circulation next year. Costly nickels, however, could cancel out savings.