On March 29, 2012, the federal government announced in its budget that it would withdraw the penny from circulation in the fall of 2012. The budget announcement eliminating the penny cited the cost of producing it at 1.6 cents. The final penny was minted at the RCM's Winnipeg, Manitoba plant on the morning of May 4, 2012, and was later entrusted to the Bank of Canada Museum in Ottawa. Existing pennies will remain legal tender indefinitely; however, pennies were withdrawn from circulation on February 4, 2013. Only pennies produced in 1982 or later are still legally "Circulation Coins". The Currency Act says that "A payment in coins [...] is a legal tender for no more than [...] twenty-five cents if the denomination is one cent."