Brexit Coin
Coins to denote historic events are regularly produced by the Royal Mint: the new Brexit coin joins other EU-inspired coinage such as the 1973 coin created when we joined the European Economic. With the Brexit, one of the major economic players involved in the EU will most probably be walking away from the regulatory side of the European Commission, as well. And if, as some suggest, a successful Brexit is the beginning of a weakened European Union, it could well elongate the time to mass acceptance.
*** UPDATE 12/08/2019 ***
The Chancellor Sajid Javid has asked officials if it will be possible to produce Brexit 50p coins in time for Britain’s departure from the EU in October 2019.
Previously, Chancellor Philip Hammond planned for just 10,000 commemorative Brexit coins to be struck for the event, however Javid intends millions of Brexit 50ps to be produced for circulation.
As mentioned in the blog below, the coin will have the words, “Peace, Prosperity and Friendship with all nations” and feature the date of Brexit – now 31st October 2019.
But with only a few months to go, will the coins be signed off by the Queen’s privy council and struck by The Royal Mint in time for Brexit?
It’s official! A Brexit 50p WILL be issued by The Royal Mint to mark the UK’s exit from the EU!
Brexit 50p Coin
Within his budget, the Chancellor unveiled his advanced plans for the 50p coin, which will be released in Spring 2019.
As such a controversial issue, which has created much disruption across the UK and the EU since the referendum in June 2016, Philip Hammond hopes that this new coin, which is expected to bear the phrase ‘Peace, prosperity and friendship with all nations’, will promote the positivity of the event.
In our previous blog, we asked Change Checkers if they would like to see a Brexit coin and 68% of you believed that such a significant moment in Britain’s history should be commemorated with a 50p coin. The Government has now finally conceded to create a gesture for this landmark moment and recognise its importance, although Treasury sources say the department has secretly been working on plans for the coin for months now.
The importance of Brexit can now be likened to Britain’s entry to the European Economic Community, which was then incorporated into the EU in 1993. A 50p coin was issued in 1973 to mark the occasion, featuring nine hands clasping each other in a circle, symbolising the nine member states of the community, intended to represent the trust, assistance and friendship which comes with EEC membership. So important was this event, that in 1998 the first “new sized” commemorative 50p was issued to commemorate 25 years of the UK in the EEC.
Brexit Coins For Sale
89,775,000 of the 1973 50p coins were struck for collectors but is no longer in circulation, whilst the 1998 coin has a mintage figure of 5,043,000 and can still be found in circulation.
1973 and 1998 EEC 50p coins
It seems that the idea of commemorating Brexit in some way is popular amongst collectors, as commemorative 50p shaped Brexit souvenirs are now available on eBay and are currently selling for £6.99. These are not legal tender, but go to show that a Brexit 50p coin is certainly in demand and could be incredibly sought-after.
An order has now been issued by Mr Hammond to The Royal Mint advisory committee to draw up a designs for the Brexit 50p coin, which should be signed off later this year. Just as the EEC 50p from 1973 intended to promote the development of new relationships, so too will the Brexit 50p, but what do you think about the plans for the new coin?
We posted a poll on our Facebook page to find out what Change Checkers think and 66% of you think we should have a Brexit coin, compared to just 34% voted against the coin and the majority opinion seems to be that we had a coin for entering the EU, so we should also have one for leaving.
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The Brexit 50p coin is a commemorative50p coin that was struck to mark the planned exit of the United Kingdom from the European Union ('Brexit') on 31 October 2019. The minting of the Brexit coin was ordered by Sajid Javid.[1] A total of 10 million Brexit coins, each stamped with the date 31 October 2019, were planned to be minted.[2][3] In late October 2019, with increasing doubts that Brexit would actually happen on that date, the minting of the coins was 'paused'.[4]
In late October 2019 it was announced that the coins would be recycled as the UK would not leave the EU on 31 October 2019.[5][6] A Treasury spokesman said that a coin to mark Brexit will still be produced but that it would enter circulation after the UK has left the EU.[5][6]
The coin is inscribed with a quote from Thomas Jefferson, 'Peace, prosperity and friendship with all nations'.[7] The lack of an Oxford Comma was criticised by some, including author Philip Pullman.[8]
Relaunch[edit]
In December 2019 a new Brexit 50p coin was announced after the Conservative Party victory in the general election.[9] Gold and silver versions of the coins were announced for collectors.[9] In January 2020 Downing Street announced that the coins would start entering circulation on 31 January 2020.[10]
References[edit]
- ^Inman, Phillip (25 October 2019). 'Production of Brexit 50p coin paused amid exit uncertainty'. The Guardian. ISSN0261-3077. Retrieved 28 October 2019.
- ^Association, Press (11 August 2019). 'Sajid Javid's plan to flood tills with Brexit 50p coins'. The Guardian. ISSN0261-3077. Retrieved 28 October 2019.
- ^Hope, Christopher (7 October 2019). 'More than 10 million Brexit 50p coins to be minted - three times more than previously thought'. The Telegraph. ISSN0307-1235. Retrieved 28 October 2019.
- ^'Brexit coins 'paused' amid uncertainty'. 25 October 2019. Retrieved 28 October 2019.
- ^ ab'Brexit 50p coins to be 'recycled' after PM accepts extension'. BBC News. 28 October 2019. Retrieved 29 October 2019.
- ^ abInman, Phillip (29 October 2019). 'Brexit meltdown: 50p coins with 31 October date to be recycled'. The Guardian. Retrieved 29 October 2019.
- ^https://www.thetimes.co.uk/article/brexit-50p-coins-quote-american-founding-father-wf0cs8ldj
- ^https://www.theguardian.com/books/2020/jan/27/brexit-50p-coin-boycott-philip-pullman-oxford-comma
- ^ abWaterson, Jim (20 December 2019). 'All change: UK tries again with new 50p to mark Brexit date'. The Guardian. Retrieved 26 January 2020.
- ^Helm, Toby (26 January 2020). 'Brexit: Heseltine says celebrations rub remainers' noses in it'. The Guardian. Retrieved 26 January 2020.