The government has ordered a new commemorative Brexit 50p coin, months after the last batch had to be melted down after the UK’s EU departure was delayed.
Chancellor Sajid Javid had originally ordered production of millions of the celebratory coins in advance of October 31, 2012 – which was supposed to be ‘Brexit Day’.
Around a million of those coins had to be melted down and the metal put aside when things failed to go to plan and Brexit was delayed.
Boris Johnson’s Brexit deal passed in the House of Commons on Friday, paving the way for a January exit from the EU.
After a meeting of the Privy Council this week, the Queen issued a proclamation that new “gold, silver and cupro-nickel coins” will be minted with the updated departure date of January 31.
They will also feature the slogan “Peace, prosperity and friendship with all nations”.
According to the Royal Mint website, precious metals, such as 50p coins, are sorted and shredded before being melted down. Metals are then purified and solidified before being turned into new products.
Former chancellor Philip Hammond had planned a limited edition of around 10,000 commemorative coins to be sold to collectors for £10 each, but Javid revised this proposal in order to introduce them into general circulation – a statement of intent that the Treasury was fully behind Brexit.
It was announced ahead of the original October date that the cost of designing and producing the commemorative cons would be met by the Royal Mint out of its own revenues at no cost to the taxpayer.