One million commemorative Brexit coins melted down after deadline missed

Cost of minting and melting down the coins will be borne by the British taxpayer

British one pound coins drop into a container during their production at The Royal Mint in Llantrisant, UK. The coinmaker is now melting down one million 50 pence pieces that were minted to mark Britain's exit from the European Union on October 31, which has been delayed by three months. Bloomberg.Show less

The UK has used the seven-sided 50 pence coin to celebrate national achievements ranging from the London Olympics of 2012 to the work of children’s author Beatrix Potter.

Now about one million of the distinctive coins minted to mark the UK’s planned divorce from the European Union on October 31 are being melted down. The Royal Mint acted after Prime Minister Boris Johnson requested a delay until January 31.

As Bloomberg revealed in October, some of the coins had already been made when Johnson wrote to the EU asking for a Brexit extension. But the extent of his government’s overconfidence was only fully revealed on Tuesday.

A spokeswoman for the mint confirmed around one million October 31 Brexit coins were made and will now be destroyed. The response came after a freedom of information request by the Daily Telegraph newspaper. She wouldn't comment on the cost of the production and destruction of the coins, but the price will ultimately be borne by taxpayers.

In 2007, a 50 pence piece was produced to celebrate 100 years of the boy scout movement, bearing the legend “be prepared”. Chancellor of the Exchequer Sajid Javid and the Treasury may have taken that advice too literally.