Platinum Jubilee 50p is rolled out by the Post Office

A new 50p coin to mark the Queen’s Platinum Jubilee is being released at Post Office branches from Monday.

Some 1.3 million coins are being made available on “limited release” at UK post offices from February 7.

Its maximum mintage of the coins has been fixed at 5,000,070 in a further nod to the Queen’s 70 years on the throne.

Post Offices in Windsor and close to Sandringham were among the first branches to receive the new coin.

Postmaster Umesh Sanghani, who has run Dedworth Green Post Office in Windsor for 23 years with wife Rashmita, said: “We have had many customers coming into our Post Office to check that we are going to get the special 50p coin.

Postmaster Umesh Sanghani and his wife Rashmita outside Dedworth Green Post Office in Windsor (Post Office/PA)

“They don’t want to miss out on this souvenir. I am a Royalist. It is amazing that the Queen has reached her 70th anniversary. I am really looking forward to the celebrations this year.”

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 today.

“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.”

The Post Office also released figures showing cash deposits at its branches were up by nearly 50% in January compared with a year earlier.

A new agreement between the UK’s banks and the Post Office was recently announced, enabling people to continue to deposit and withdraw cash at Post Office counters until December 2025.

Business and personal cash deposits totalled £2.24 billion in January compared £1.51 billion a year earlier.

Martin Kearsley, banking director at Post Office, said: “Our figures show the significant recovery cash use has made since the country was in a full lockdown a year ago.”