The Treasury has "postponed" production of the new Brexit 50p coins as the likelihood that the UK will not leave the EU by October 31 recedes.

A Treasury source told The Daily Telegraph: "We have paused production of the Brexit coin and will take a final decision in due course."

It is likely that hundreds of thousands of the coins have already been minted.

The coins are likely to be collector's items if any are allowed to leave the Royal Mint before they are melted down and could be worth hundreds of pounds.

Chancellor  Sajid Javid  drew up proposals in August for millions of coins to enter mass circulation in time for  Brexit.

The Brexit-themed coins were originally planned as collectors' editions, costing £10 each, in a run of 10,000.

On the tails side of the coins is the inscription: "Peace, prosperity and friendship with all nations", as well as the historic date the UK is due to leave the EU – October 31 2019."

Boris Johnson insisted time and again that the UK would leave by 31st October "do or die".

But he has quietly dropped his pledge after he failed to get his deal through parliament by 19 October meaning he was mandated to ask the EU for an extension under the Benn act.

Today EU27 ambassadors met today to decide on a delay but failed to agree. .

They are set to call an extraordinary meeting next week.

Source: Read Full Article