Millions of 50p Brexit coins are to be minted in the UK, in time to mark Britain's departure from the European Union.

The British Chancellor Sajid Javid has asked officials to consider whether it will be possible to produce the coins in volume ready for the UK's scheduled EU leaving date of October 31st, Britain's Sunday Telegraph says.

Former chancellor Philip Hammond had planned a limited edition of 10,000 commemorative coins to be sold to collectors.

But Mr Javid's revised proposal would see the coins produced for mass circulation.

A general view of Britain's 50p coin | Image: Gareth Fuller/PA Archive/PA Images

The coins will carry the words "Friendship with all nations" - and will be stamped with the revised departure date of October 31st 2019, as opposed to March 29th as originally planned.

The Telegraph also reported one possible snag could be that the new coin has to be signed off by a meeting of ministers, which is not due to meet again until October.

The current 50p coin entered into circulation to replace the Bank of England 10 Shilling note back in 1969.

Main image: The design of the new British 'Brexit' 50p coin, which will include an updated departure date of October 31st 2019 | Image via @hmtreasury on Twitter