Thousands of commemorative Brexit coins to be melted down after delay

Thousands of commemorative Brexit coins to be melted down after delay
© Getty Images

Thousands of commemorative Brexit coins designated with an Oct. 31 exit date will be melted down after the prime minister accepted a three-month delay in the proceedings, Bloomberg reported Monday.

The Royal Mint had been asked to create a new 50 pence coin with the official Brexit date, but the U.K.’s divorce from the European Union (EU) has been pushed back again after Parliament failed to agree on a deal in time for the Halloween deadline. 

ADVERTISEMENT
A Treasury spokesman told BBC that the Royal Mint will still create a coin to commemorate Brexit, which “will enter circulation after we have left” the EU. The Royal Mint’s website says the metals in the existing coins are set to be sorted, shredded, melted, purified and then solidified before being recycled.

The project originally aimed to complete up to 10 million new coins by Oct. 31. Ten thousand limited edition coins were approved to be sold to collectors for 10 pounds.

The coin featured Queen Elizabeth II’s head and the phrase “Peace, prosperity and friendship with all nations.”

The deadline for the U.K.’s exit from the EU was extended to Jan. 31, 2020, after Parliament was unable to approve Prime Minister Boris Johnson’s plan in time. Johnson accepted the extension Monday, even though he had promised an exit by Oct. 31.