29/10/2018 11:39 GMT | Updated 29/10/2018 11:55 GMT

The Brexit 50p Has Everyone Making The Same Jokes

'It will be worth about 36p, so a perfect tribute then.'

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Previous commemorative fifty pence coins.

The news that Chancellor Philip Hammond is set to unveil plans for a new 50p coin to commemorate Brexit was met with... you guessed it, absolute derision on social media.

Of course, it being Twitter, lots of people made the same joke about what the new coin will be worth after we leave the EU – as the value of the pound continues to drop as we teeter closer to exiting the bloc. 

The EU has announced it will not be following suit and issuing a commemorative Euro coin to mark the occasion, with a European Commission spokeswoman commenting: “We have no current plans to do anything of the sort”.

According to plans due to be revealed in the budget on Monday, the 50p coin will be available from March 29 next year – the day Britain exits the EU. A source close to the Chancellor told The Sun: “It’s an historic moment which will rightly be commemorated”.

It is expected to bear the phrase “Friendship With All Nations”, but eagle-eyed commentators quickly spotted this is part of a famous Thomas Jefferson quote, and pointed out could send a very different – and more isolationist – message. 

The full quote is: “Peace, commerce and honest friendship with all nations; entangling alliances with none.”

In an interview with TalkRadio, Health Secretary Matt Hancock enthusiastically backed the plans. The Tory MP said the phrase would send “a really important message – what is our position in the world post Brexit?” and showed Britain wouldn’t “turn in on ourselves”.

The Queen is said to have already personally signed the coin off. The Royal Mint advisory committee has been commissioned to design the coin, which will likely be approved later this year.

As Brexit 50p began trending on Twitter, there were lots of good jokes at Hammond’s expense and most agreed the new 50p was not... a mint idea (sorry).