The federal government is winding down production of the penny coin following a bipartisan effort to nix the lowest-denomination of U.S. currency over cost concerns, according to a plan outlined by the Treasury Department on Thursday.

A spokesperson for the Treasury Department confirmed to USA TODAY that the government recently made its final order of penny blanks, flat metal discs that become coins. The United States Mint will continue to produce pennies while the inventory lasts, but after the supply runs out, the production of United States pennies will end.

The Treasury Department said Thursday it’s planning to end production of the penny in an effort to phase out one of the country’s oldest currencies. The U.S. Mint has made its final order of penny blanks and will stop manufacturing the coin,