Plans for special Brexit 50p coin put on hold

Speaking on the Andrew Marr show, chancellor Philip Hammond said he was unsure ‘whether the coins’ had been struck or not yet, but dismissed suggestions they should be melted down.

They could be the only 50p coins after Brexit which increase in value, rather than decrease.

‘They could become collectors’ pieces,’ he said.

‘They were meant to be circulating coins, they were always collectors coins of which the Royal Mint issues quite a number.’

A Treasury source told the Sunday Telegraph that the coin has not yet been produced on a large scale.

‘They have minted prototypes – but have not mass produced them yet. They have not dated them yet, given there is no exact date of departure or year.’

The coin, announced in last year’s budget, was intended to reflect others produced by the royal mint to mark national occasions.

Labour’s Mary Creagh tweeted: ‘The Brexit 50p coin has fallen victim to the government’s Brexit chaos.

‘Is this what the chancellor means by taking back control of our money?’