Giant Eagle wants your pennies and will be trading gift cards worth double the value of the coins this weekend.

The company announced Tuesday that this weekend, Giant Eagle will be holding a one-day event at all of its stores where customers can trade pennies for gift cards.

From 11 a.m. to 4 p.m. on Saturday, November 1, customers can exchange a minimum of 50 cents and maximum of $100 per transaction in exchange for a Giant Eagle gift card worth double the value of the pennies.

For example, if you take $10 worth of pennies to Giant Eagle, you'll receive a $20 gift card.

"Retailers across the country are taking steps to maintain adequate supplies of pennies," said Bill Artman, Giant Eagle President and CEO. "At Giant Eagle, we saw a unique and fun opportunity to reward customers for joining our efforts. We invite everyone to check their change jars, desk drawers, and couch cushions to help keep pennies available for those who choose to pay with cash."

The announcement of the coin and gift card exchange comes as the U.S. Treasury is phasing out production of the penny.

Giant Eagle says the exchange program this weekend will allow the company to collect more pennies to help be able to provide exact change to customers who wish to pay in cash for their purchases.

"This proactive step allows the company to maintain accuracy and fairness while it awaits formal guidance from the U.S. government regarding future rounding practices," Giant Eagle said.