Statute Details
- Title: Denominations and Characteristics of Coins
- Act Code: CA1967-S762-2010
- Legislative Instrument Type: Subsidiary legislation (SL)
- Instrument Number: S 762
- Authorising Act: Currency Act (Chapter 69)
- Legal Basis: Pursuant to section 17(5) of the Currency Act
- Commencement / Notification Date: 15 Dec 2010
- Commencement for Coin Issuance (as stated): Coins to be issued on 31 Dec 2010
- Status: Current version as at 27 Mar 2026 (per the legislation portal)
- Parts: N/A (instrument consists of a Schedule)
- Key Provisions: Enacting formula and The Schedule (denominations and characteristics)
- Related Legislation: Currency Act (Chapter 69); legislation timeline (versioning)
What Is This Legislation About?
The “Denominations and Characteristics of Coins” instrument is a Singapore subsidiary legislative notification that sets out, in a formal and legally authoritative way, the denominations and physical characteristics of coins to be issued by the Monetary Authority of Singapore (MAS). In plain terms, it tells the public and market participants exactly what coins will exist (their face values) and how they are designed or specified (their identifying features), so that the currency system remains consistent and verifiable.
Although the extract provided is brief, its legal function is clear: it is made “for general information” and is issued pursuant to a specific enabling provision in the Currency Act (Chapter 69). The instrument is therefore not merely administrative; it is part of the legal framework that governs Singapore’s currency issuance. The notification is tied to a particular issuance date—here, coins “to be issued on 31st December 2010”.
For practitioners, the practical significance is that coin specifications—often including size, composition, design elements, and other distinguishing characteristics—can affect legal tender recognition, counterfeit prevention, cash handling procedures, and compliance obligations for businesses that accept or process cash. Even where the instrument is short, it plays a gatekeeping role in ensuring that the currency in circulation matches the legally declared specifications.
What Are the Key Provisions?
1. Enacting formula and legal basis (section 17(5) of the Currency Act)
The instrument states that it is made pursuant to section 17(5) of the Currency Act. This matters because it anchors the notification’s authority. Section 17(5) is the statutory mechanism that allows MAS (through the relevant legal process) to specify the denominations and characteristics of coins to be issued. In legal terms, the instrument is an exercise of delegated or enabling power: it converts MAS’s determinations into a legally notified schedule.
2. “General information” notification
The text indicates that the notification is “hereby notified for general information”. This phrase is commonly used in Singapore subsidiary legislation to signal that the instrument is intended to inform the public and relevant stakeholders of the official specifications. While the instrument may not read like a regulatory “command” with enforcement penalties in the extract, it still has legal effect because it defines what coins are to be issued and how they are characterised.
3. The Schedule: denominations and characteristics
The core substantive content is in “THE SCHEDULE”. The schedule is where the denominations (e.g., the face values) and the characteristics (e.g., physical and design features) are set out. The extract does not reproduce the schedule entries, but the legal structure indicates that the schedule is the operative part. For a lawyer advising on cash acceptance, procurement of coin-handling equipment, or disputes about whether a particular coin is genuine or within the specified series, the schedule is the authoritative reference point.
4. Temporal linkage to issuance date (31 December 2010)
The instrument specifies that the denominations and characteristics relate to coins “to be issued on 31st December 2010”. This temporal linkage is important for determining which specifications apply at which time. In practice, disputes can arise where coins are alleged to be invalid, counterfeit, or outside the current series. The issuance date helps establish the relevant legal specification period.
How Is This Legislation Structured?
This instrument is structured in a straightforward way. It contains:
(a) An enacting formula that identifies the legal authority (section 17(5) of the Currency Act) and the purpose (notification for general information); and
(b) A Schedule titled “Denominations and Characteristics of Coins”, which is where the detailed specifications are set out.
There are no “Parts” listed in the metadata, and the extract indicates that the instrument is essentially a schedule-based notification. This is typical for currency specification instruments: the schedule is designed to be updated or replaced as coin designs change, while the enabling framework remains in the Currency Act.
Who Does This Legislation Apply To?
The instrument applies broadly to persons and entities that interact with Singapore coins—particularly those whose operations depend on accurate identification of coin denominations and authenticity. While the notification itself is “for general information”, its effect is felt in commercial and regulatory contexts. Businesses that accept cash (retailers, transport operators, vending machine operators), financial institutions, cash-in-transit providers, and operators of coin-processing equipment typically need to ensure that their systems recognise the correct denominations and characteristics.
MAS is the central actor in issuing coins, but the legal obligation is not necessarily directed at MAS alone. Instead, the instrument provides the official reference specifications that other parties rely on. In disputes—such as whether a coin is genuine, whether a coin is within the legally issued series, or whether a machine should accept a particular coin—this schedule becomes the key evidential and interpretive document.
Why Is This Legislation Important?
1. Legal certainty for currency issuance and recognition
Currency systems require high levels of certainty and standardisation. By formally notifying the denominations and characteristics of coins, the instrument ensures that MAS’s coin designs are not merely internal specifications but are publicly and legally anchored. This supports consistent recognition of Singapore coins across the economy.
2. Counterfeit deterrence and verification
Coin characteristics are central to anti-counterfeiting measures. Even if the extract does not list the specific characteristics, the legal act of publishing them in a schedule supports verification processes. For example, coin-validation mechanisms in vending machines and automated fare collection systems often rely on known physical parameters. Similarly, businesses training staff to detect counterfeit coins benefit from official specifications.
3. Practical compliance and operational readiness
For practitioners advising clients in cash-heavy industries, the instrument has operational implications. When coin specifications change (or when new denominations/designs are introduced), stakeholders may need to update:
- cash handling procedures (staff training and acceptance rules);
- equipment settings (coin validators, sorting machines, and ATMs where applicable);
- procurement and maintenance contracts (ensuring equipment supports the new coin characteristics); and
- dispute handling (documenting which coin series was in circulation at the relevant time).
Because the instrument is tied to a specific issuance date, it also helps lawyers determine which specifications were intended to be in circulation at the relevant time—an issue that can be decisive in factual disputes.
Related Legislation
- Currency Act (Chapter 69) — in particular section 17(5) (the enabling provision for notifying coin denominations and characteristics).
- Legislation timeline / version history — to confirm the correct version “as at” the relevant date (the portal indicates a current version as at 27 Mar 2026 and an instrument date of 15 Dec 2010).
Source Documents
This article provides an overview of the Denominations and Characteristics of Coins for legal research and educational purposes. It does not constitute legal advice. Readers should consult the official text for authoritative provisions.