SINGAPORE: Singapore will have a whole new set of coins in
circulation by the middle of this year.
The current Second Series coins were first introduced in 1985 and
featured local plants and flowers, depicting Singapore as a garden
city.
But they'll soon make way for the Third Series featuring five of
Singapore's national icons and landmarks - the Merlion, Port of
Singapore, Changi Airport, Public Housing and the
Esplanade.
For example, HDB flats - home to more than 80 per cent of
Singaporeans - will be featured on the 10-cent coin... and the
Esplanade on the 5-cent coin.
"Coins reflect the events, persons or symbols significant to a
nation. The new series coins depict local icons and landmarks that
are familiar to Singaporeans and reflect various aspects of
Singapore's progress as a nation," said Ravi Menon, Managing
Director of the Monetary Authority of Singapore
(MAS).
Each coin denomination has an electro-magnetic signature, which
allows vending machines to detect counterfeit and foreign
coins.
The one-dollar coin contains additional security features such as
its bi-metallic composition and laser mark micro-engraving in the
shape of Singapore's national flower, the Vanda Miss
Joaquim.
The new coins will have larger denomination numerals for easy
identification and features to facilitate identification by the
visually-impaired.
The coins are progressively sized by denomination, with the 5-cent
coin being the smallest and one-dollar coin being the
largest.
Mrs Foo-Yap Siew Hong, Assistant Managing Director of MAS, said,
"The Second Series coins have been in use for more than 25 years.
There will be a period of adjustment as we all get comfortable with
the new coins. MAS will continue to work closely with our
stakeholders to smoothen the transition."
MAS says it has been working with public transport operators to
ensure that coin-operated machines at MRT/LRT stations are
calibrated to accept both the current and new series coins before
the launch.
It has also been working with businesses with coin-operated
facilities such as vending machine operators and supermarkets to
prepare them for the launch.
And to ensure a smooth transition, the current series will continue
to be legal tender, as they are phased out over the next four
years.
- CNA/de
