50p BREXIT coin from 2019 – Royal Mint
- October 30, 2018
The Royal Mint intend to stike “millions” of the new commemorative 50p Brexit coins ahead of the potential exit day of 31 October, as reported by Sunday Telegraph. The UK treasury confirmed last year that it would be producing the commemorative coin as part of UK’s history. The Mint usually mint circulation commemorative coins for marking events such as the 2012 Olympics, the UK’s accession to the European Economic Community or the centenary of the First World War.
The previous plans were for the coins to be struck for the previous Brexit deadline of March 31th. AS the deadline was delayed, so the coins were never issued.
The Telegraph is now reporting that Chancellor of the Exchequer Sajid Javid is seeking a ramping up of production so that millions could be in general circulation and “ready to spend” by 31 October.
Sajid JAVID promotes a Brexit 50p coin for circulation
This plan is quite different of his predecessor one’s, Philip Hammond. He had planned for 10,000 commemorative coins to be minted and that they would only be available to purchase at a cost of €10. So that these coins were provided only for collector’s market. The new one are struck for general circulation and stress the political decision to leave EU in general public.
As previously planned, new coins will still be marked with the words “Peace, prosperity and friendship with all nations” but will now have the Brexit date as 31 October, 2019.
On october the 24th, Government spokeman told that 3 million coins would be put into circulation the day UK leaves EU. 7 million coins more will be put into circulation in 2020.
Nobody knows if these coins will be minted with one yearmark (2019 or 2020) or with two different yearmarks (2019 and 2020).
On October the 25th, Treasury spokeman told the minting of coins was delayed.
Different UK newspapers tell different stories about these coins. For some, coin striking did begin and several hundred thousand coins are already in Royal Mint vaults…Others assure that only a trial strike of 1 000 coins has been produced…It is difficult to know what is the true story because the Royal Mint refuses to give informations about this situation, for commercial reasons.
The only confirmed fact about the coin is that it is an official means of payment in the UK, since October the 8th.
On October 29th, a Royal Mint spokeman told this Brexit coin project was definitely delayed. All the already struck coins will be melted. But UK government still intend to mint and to put into circulation a commemorative coin to celebrate the Brexit.
Some newspaper told some of the coins may not be melted and may be on sale on collector’s market in the months or the years to come. They told this coin is an error coin. This would be rather the first type of brexit coin than an error coin. However, it is true that such a coin may be worth several hundreds of pounds on collector’s market, due to its rarity and to the importance of the commemorated event.
In euro numismatics, the french 10 euro cent coin “first type” (officialy never issued) may be worth between €200 and €250, that is to say until 2500 times its face value…
This coin will be struck in cupronickel UNC condition for circulation and in silver and gold proof condition for collector’s market.
In fact, the destiny of the coin is uncertain because the political destiny of UK is itself uncertain!
Wait and see…
previous article : October 30, 2018
To commemorate the United Kingdom’s exit from the European Union, the British Royal Mint will create a new 50p Brexit coin. This new coin will be released in the spring of 2019. It was announced on Monday 29 October by the HM Treasury in a press release on the occasion of the presentation of the 2019 budget.
This coin, with a face value of 50 pence, will be decorated with the message “Peace, Prosperity and Friendship with all nations”, according to the design revealed by the Treasury’s Twitter account. The coin will also show this date: 29 March 2019, the day of departure from the country of the European Union.
The Royal Mint has a long-established tradition of producing coins in order to commemorate historic moments, including the 2012 Olympics, the UK’s accession to the European Economic Community, and the centenary of the First World War.
This announcement comes at a time when negotiations between the United Kingdom and the European Union are at a standstill. While both sides have agreed on most points, the main point of disagreement remains how to avoid the return of a hard border between the Republic of Ireland and the British Province of Northern Ireland.
The issue of a commemorative coin to mark the UK’s departure from the European Union was ostensibly the result of a campaign initiated by the tabloid newspaper, The Sun, which petitioned its readers to support the minting of the new 50-pence coin and had argued “for the Government to create an enduring gesture to mark Brexit as a landmark national moment.” According to The Sun, they have reported from Treasury sources that the department had been secretly working on plans for the Brexit coin for months before Conservative members of Parliament began to campaign for such a commemorative coin.
A piece barely announced and already scoffed at.
Critics of Brexit were quick to mock the Government’s plan to introduce a new 50p coin to mark the day Britain leaves the European Union. The Sun reported that the commemorative coin, released on March 29, had the blessing of the Queen, whose head will feature on one side. Social media users have been quick to come up with their own designs for the commemorative coin. There is a pictures of the piece featuring Dad’s Army’s Private Frazer and Lance Corporal Jones, along with their famous catchphrases “we’re doomed” and “don’t panic”.
Other tweeted a photoshopped image of the coin…
Due to the uncertain evolution of events surrounding the Brexit, the issuing day of commemorative 50p coin dedicated to Brexit may be delayed. As already said, the forecast issuing day was march 29th 2019. It was supposed to take place the day that the Brexit becomes effective.
But reasonnabely, this coin will not be available until after the UK leaves the EU.
According to Daly Telegraph of march 17th, the Treasury has now said that the coins will only be “available following our departure”.
Wait and see is the sole attitude to adopt in such a case…
Last Update of 20/01/2020:
On 20/01/2020, about less than two weeks before official Brexit day, british newspapers annouced that around three million of the coins are set to be released on the day the UK leaves the European Union at the end of january 2020. Other versions, silver and glod coins, are planned for collectors.
Each 50p will be emblazoned with the inscription “Peace, prosperity and friendship with all nations”, as for the former versions of the coin.
The Prime Minister will be one of the first to get his hands on the new 50p, when he holds a special cabinet meeting on 31 January at a venue in the north of England.
Sources : HM Treasury – NUMISMAG©