New 50p Platinum Jubilee coin will enter circulation on Monday, February 7 through Post Office branches
A very special 50 pence piece is to enter circulation today.
The new coin is to mark The Queen's Platinum Jubilee and is decorated with a design that has been personally approved by Her Majesty.
To mark the 2022 celebration which will celebrate 70 years of The Queen's reign, 1.3 million of the new coins are going to be released.
They will make their way into the hands of the public via Post Offices which will begin using the shiny new 50 pence pieces as change for customers at branches nationwide from this morning.
A 50 pence piece is Britain's most collectable coin with a shape that lends itself well to commemorative design.
Last year the Royal Mint released a list of the most rare and therefore valuable 50p coins still in circulation - among them one made for Kew Gardens and others to the mark the London 2021 Olympics.
But it is the first time that a Royal event has been celebrated on a 50 pence piece, with The Queen personally approving the design on the 'tails' side of the new coin.
The Royal Mint’s Director of UK Currency Mark Loveridge said: “Coins tell the story of our nation and we are delighted to be working with the Post Office to mark this special royal occasion. By issuing the Platinum Jubilee coin into circulation it ensures that this significant moment in history can be cherished for generations to come.
“This special 50 pence features an elegant and bold number 70 in celebration of Her Majesty’s Platinum Jubilee year, and we expect it to become one of the nation’s most collectable coins. We are delighted that 1.3 million coins baring this unique design will be accessible at Post Offices across the UK.”
The Platinum Jubilee 50p coins are expected to be highly sought after due to the limited release of just over a million of them - with eagle eyed people lucky enough to find one among the change in their purse expected to hold it as a keepsake rather than continue using it.
Nick Read, Chief Executive at the Post Office, said: “We are thrilled to be part of the celebrations for Her Majesty’s Platinum Jubilee year and that our 11,500 Post Offices across the whole of the United Kingdom will exclusively start the circulation of this special 50p coin from Monday February 7.
"Postmasters are at the heart of their local communities and have been throughout our 360-year history. I have no doubt that this will be a real honour and privilege for Postmasters and their teams.”
To be in with the chance of receiving the new 50p, a Post Office customer will need to purchase a product or service at the branch and receive change - it will not be possible to swap a 50p for this special 50p coin at a Post Office counter.
The circulation news comes shortly after the Royal Mint released a commemorative coin collection for The Queen’s Platinum Jubilee.