The Monetary Authority of Singapore (MAS) announced on Thursday that a new series of coins will be in circulation by mid-2013.
Reflecting Singapore’s progress as a nation, the new coins will feature five of Singapore’s national icons and landmarks such as the Merlion, Port of Singapore, Changi Airport, HDB Housing, and the Esplanade.
This is the third time a new coin series is being introduced. The existing coin currency – depicting Singapore as a Garden City – was introduced in 1985.
While the new coins are larger in size and denomination numerals and have security features such as an electro-magnetic signature for each denomination, members of the public will still be able to use all past and current coins alongside the new ones as the former will not be demonitised, said MAS.
MAS also said in a statement to the media today that it is working closely with all stakeholders to ensure smooth transition. For example, 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.
MAS has also been working with businesses with coin-operated facilities such as vending machine operators and supermarkets to prepare them for the launch.