Treasury minister supports calls for coin to commemorate Brexit A Treasury minister has backed calls for the creation of a coin to mark Brexit and has passed the idea […]

A Treasury minister has backed calls for the creation of a coin to mark Brexit and has passed the idea to the Royal Mint, the Government department has confirmed to i.

Robert Jenrick, Exchequer Secretary to the Treasury, received a letter from MPs calling for Britain leaving the EU to be commemorated, The Sun first reported.

Mr Jenrick agreed there “could be an argument for this” and sent the idea to the Royal Mint Advisory Committee.

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Royal Mint’s decision

However the Treasury told i the final decision about what themes featured on the UK’s coins was made solely by the Royal Mint.

Responding to a request for comment, the mint said it could not confirm whether a Brexit coin was being planned. “The Royal Mint does not discuss what is being considered for future themes and designs for UK coins,” said a spokesperson. “When selected, the themes are not revealed until launch date in order to retain the element of surprise for Royal Mint customers. Until such dates, this information is commercially sensitive.”

The Brexit coin comes after repeated calls for stamps to commemorate Britain leaving the EU. The Royal Mail has previously said it will not be producing such stamps as it refrains from becoming involved in political matters.

How are coin designs chosen? The Royal Mint considers ideas from the public, Government bodies and special interest groups. Themes are shortlisted and then undergo a design selection process. The independent panel, the Royal Mint Advisory Committee (RMAC), which includes experts in art, design, heraldry, typography, sculpture, history and numismatics, all weigh in on the decision. The mint spokesperson said the body aimed to create themes that reflected the most significant and appropriate events for national commemoration. If the Royal Mint believes a Brexit coin should be made, it will make a recommendation to the Treasury. The Chancellor will have to approve the idea. Themes are chosen 18 months before the release date of the coin.

Coins to commemorate events are regularly issued by the mint, which is government-owned.

Coins to mark events

A £5-coin to mark the wedding of the Duke and Duchess of Sussex, currently on sale for £82.50, was brought out earlier this year.

Coins have also been crated to mark the centenary of the Royal Air Force, Queen Elizabeth and Prince Philip’s platinum wedding anniversary, writer Jane Austen and the 1966 FIFA World Cup.

In 1998, a 50p coin was issued to celebrate the UK’s presidency of the EU and the 25th anniversary of the nation’s accession to the European Economic Community (ECC).

A 50p coin was also released the year Britain joined the ECC in 1973. The coin featured nine hands which represented the nine member states.

‘Cash cow’ coins

Richard Beale, a coin specialist at valuers and auctioneers Warwick & Warwick, told i he thought Brexit coins would be popular with the public.

“[The Royal Mint] are not shy about issuing commemorative coins – there is a great deal of interest from the public.

“They produce something out of base metal which costs very little and then people just keep them. There is billions of pounds of coinage which the general public are keeping rather than spending.”

Mr Beale said the mint usually issued coins in base metal in large numbers – which rarely had higher value than their face value – as well as more precious gold and silver versions.

He said commemorative coins were a “cash cow” for the Royal Mint and the Government. “If you bought every product the Royal Mint produced in any calendar year, it would cost about £100,000. They produce all kinds of gold and platinum things. It is a real industry.

“We as auctioneers see collections of these things. They are popular in auction sales.”

i has contacted the Royal Mint for comment.