The Royal Mint will have three millions Brexit 50p coins ready to be released soon. The project received the proclamation from the Queen on Tuesday night, the treasury confirmed. The Brexit coins will feature the inscription: “Peace, prosperity and friendship with all nations.”
When is the new Brexit coin out?
The Brexit 50p coin will be released into circulation on October 31 – the day the UK is due to leave the EU.
As well as the inscriptions “Peace, prosperity and friendship with all nations”, the date October 31, 2019 will also feature on the coin.
This is to mark the historic date Britain finally divorced the bloc across the pond.
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Originally the coins were due to have the March 29, 2019 Brexit date inscribed on them.
But following the delay chancellor Sajid Javid asked officials in August if the coins could be made en masse in time for the October 31 deadline.
As many as three millions Brexit themed coins are expected to be released.
The idea was first announced by former chancellor Philip Hammond in last year’s budget.
The plan was to produce 10,000 special Brexit coins and in fact, a batch of the March 29 prototypes were minted.
This despite MPs had already voted to extend the UK’s exit date.
The latest iteration received approval by the Queen’s Privy Council of ministers on Tuesday.
That means the new coins have been given the go-ahead and can now start being produced, the Treasury announced.
The 50p coin will look exactly as set out earlier in the year, with the only difference being the updated date.
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What happens to the coin of Brexit is delayed again?
The Royal Mint will have three million coins ready by October 31 – and bearing the historic date – even if Brexit is delayed again.
However, the news of the coins comes as a Downing Street source said a Brexit deal was “essentially impossible” after a call between the Prime Minister Boris Johnson and German chancellor Angela Merkel.
Mr Johnson has insisted the UK will leave the EU on Halloween “no ifs or buts” and deal or no deal.
But a bill tabled by the opposition and passed in Parliament says the Prime Minister will have to ask the EU for a three-month delay if a deal has not been agreed by October 19.
So with the exit date hanging in the balance it looks like millions of coins with the wrong date could potentially be released.
The coins will become legal tender and will be stocked by banks and post offices and can be spent in shops.
In total, more than 10 million of these coins will be produced over the coming year.
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