The Government has announced that a new 50 pence coin entered into circulation on 31 January to mark the UK’s departure from the European Union. The new coin, which was unveiled by the Chancellor, Sajid Javid, who is also the Master of the Mint bears the inscription "peace, prosperity and friendship with all nations" as well as the Brexit date of 31 January 2020.

Commenting after seeing the coin for the first time, the Chancellor of the Exchequer, Sajid Javid said:

'Leaving the European Union is a turning point in our history and this coin marks the beginning of this new chapter.'

The Government has confirmed that about 3 million of the coins will be distributed from banks, post offices and shops from Brexit day with another 7 million entering circulation later in the year.

The launch of the coin underlines the long running Brexit saga as this is the third time that the launch of a special Brexit coin has been announced. The first launch of the coin was planned for the original Brexit date of 31 March 2019 and the second launch for the delayed 31 October 2019 Brexit date when an estimated 1 million coins had to be melted down.