On Monday (15 May), the Monetary Authority of Singapore (MAS) launched a $10 coin to commemorate the 100th birth anniversary of Singapore’s founding Prime Minister, Mr Lee Kuan Yew.
In a press release, MAS said that the coin pays tribute to his strategic vision, boldness and indomitable spirit that transformed Singapore from a regional trading port to a global manufacturing, business and financial hub, creating opportunities for all Singaporeans.
The design of the $10 coin
The coin is gold in colour, and it is minted in aluminium bronze. With a diameter of 30mm, it is larger than the current Third Series circulation coins.
Designed by local artist Mr Weng Ziyan, the reserve side of the coin features a portrait of Mr Lee Kuan Yew, accompanied in the foreground by the Marina Barrage.
It represents Mr Lee’s vision to build a freshwater reservoir in the city, strengthening Singapore’s water resilience, said MAS.
The backdrop is the skyline of the Raffles Place financial district and two heritage buildings – Fullerton Hotel (formerly the Fullerton Building/General Post Office) and National Gallery Singapore (formerly the Supreme Court and City Hall) – which have witnessed significant milestones in Singapore’s history.
On the other side of the coin, below the Singapore Coat of Arms, a dual latent image features Mr Lee’s birth year ‘1923’ viewed from one angle, and his 100th birth anniversary ‘2023’ viewed from another.
How to apply for the coin
Applications can be made online, starting from 15 May at this website. Only Singapore citizens and permanent residents can apply for the coins.
Each applicant can apply for up to five coins. If demand is high, applicants may not be allocated the quantity of coins requested but can be assured of being allocated at least one coin.
Applicants must indicate their identity number, mobile number and preferred bank branch to collect the coins. An SMS notification will be sent shortly after the application to confirm that it has been received.
No upfront payment will be requested at the point of application. Successful applicants will pay for the coin(s), at its face value of $10 each, when collecting the coin(s) at the banks.
The application will end on 9 June 2023.
Collection of coins
The coins will be available for collection from September 2023.
Successful applicants will receive an SMS notification from mid-August 2023, prior to the collection period allocated to each applicant.
The SMS notification will include information on the quantity of coins allocated, the collection period, and the bank branch allocated.
MAS also added that all SMS notifications will not contain any clickable link nor ask for any upfront payment.
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“Coins that are not exchanged during the collection window will subsequently be made available for exchange at the banks by the general public, including non-Singaporeans”, said MAS.
For more information on the coins, please visit this website.
