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New-look coins by mid-2013 (ChannelNewsAsia)
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