Millions of new 50p coins may be minted and released into circulation to mark the UK’s departure from the European Union.
Chancellor Sajid Javid is drawing up plans for the coins to be released in time for the planned leave date on 31 October, according to The Telegraph.
Limited edition coins
Chancellor Javid, who is also Master of the Mint, has asked officials whether it will be possible to produce the commemorative coins in time for the October deadline.
The Chancellor is drawing on plans that were first outlined by his predecessor, Phillip Hammond, who asked for 10,000 limited edition coins to be minted. The commemorative coins were to be sold to collectors for £10 each.
The move is intended to be seen as a statement of intent that the Treasury is fully committed to the UK leaving the EU by the end of this year.
‘Friendship with all nations’
The special 50p coins planned for release in October are still to feature the same design as originally planned under Phillip Hammond. The coins will carry the inscription “Peace, prosperity and friendship with all nations” on the back, along with the new departure date of 31 October 2019.
However, the plans for the production of the coins will first need to be signed off by the Queen’s privy council of ministers before they can be minted.
The council are not due to meet again until October, which could halt the plans for producing the coins in time for the scheduled departure date.
The Brexit coins will be the latest in a string of commemorative designs released by the Royal Mint to mark national occasions, and could be very valuable to collectors.