Statute Details
- Title: Denominations and Characteristics of Coins
- Act Code: CA1967-S763-2004
- Type: Subsidiary Legislation (SL)
- Authorising Act: Currency Act (Chapter 69)
- Key Authorisation Provision: Section 17(5) of the Currency Act
- Instrument Number: No. S 763
- Enactment/Notification Date: 23 December 2004
- Commencement (as stated): Coins to be issued on 29 December 2004
- Parts: Not stated (instrument is structured around a Schedule)
- Key Provisions: Notification under the Enacting Formula; The Schedule sets out denominations and characteristics
- Status: Current version as at 27 March 2026 (per the platform display)
What Is This Legislation About?
The “Denominations and Characteristics of Coins” instrument is a Singapore subsidiary legislation made under the Currency Act (Chapter 69). In plain terms, it is a formal notification that tells the public—and the market—what coin denominations will be issued and the physical characteristics of those coins (for example, the design and identifying features that distinguish one denomination from another).
Unlike a comprehensive Act that sets out broad policy, this instrument is tightly focused. It does not create a general regulatory regime for currency use; rather, it performs a specific administrative-legal function: it provides the legally authoritative description of the coins that the Monetary Authority of Singapore (MAS) is authorised to issue.
The instrument is explicitly linked to a particular issuance date. The notification states that the denominations and characteristics of the coins to be issued on 29 December 2004 are shown in the Schedule. This structure reflects a common approach in currency law: the core legal powers sit in the Currency Act, while the detailed specifications of coins are set out in subsidiary instruments and schedules.
What Are the Key Provisions?
1. The Enacting Formula and the legal basis
The instrument is made “pursuant to section 17(5) of the Currency Act”. This is crucial for practitioners. It signals that the MAS has a statutory power to issue coins, and that the specific denominations and characteristics must be “notified for general information” in the manner prescribed by the Currency Act.
From a legal interpretation perspective, the reference to section 17(5) indicates that the Schedule is not merely descriptive; it is the official legal specification that gives effect to the MAS’s coin issuance. If a dispute arises—such as whether a particular coin is genuine, legal tender, or properly issued—the Schedule is the primary reference point.
2. The notification to the public
The operative statement provides that it is “hereby notified for general information” that the denominations and characteristics of the coins to be issued on 29 December 2004 are “as shown in the Schedule.” This language is typical of instruments that are meant to be publicly accessible and reliable for verification purposes.
For lawyers advising clients in areas such as cash handling, vending, coin-operated machines, retail banking, or numismatic authentication, the practical effect is that the Schedule functions as a publicly verifiable standard. Businesses can align their equipment settings and acceptance policies to the legally notified specifications.
3. The Schedule as the substantive content
The instrument’s substantive provisions are contained in “THE SCHEDULE”. While the extract provided by the user does not reproduce the Schedule’s detailed table, the Schedule is clearly intended to list each coin denomination and its characteristics.
In practice, “characteristics” in coin legislation typically cover features such as:
- the denomination value (e.g., cents);
- physical attributes used for identification (e.g., size, shape, colour/metal composition);
- design elements (e.g., obverse/reverse motifs); and
- any distinguishing marks that prevent confusion between denominations.
Even where the Schedule is not reproduced in the extract, the legal architecture is clear: the Schedule is the authoritative specification. Any interpretation of what coins are intended to be issued must be anchored to the Schedule.
4. Instrument date and versioning
The instrument is dated 23 December 2004 and relates to coins to be issued on 29 December 2004. The platform indicates a “current version as at 27 Mar 2026”, and also references a timeline and amendments functionality.
For practitioners, this means that while the original notification is from 2004, the platform’s “current version” may incorporate later amendments or consolidation. When advising on compliance or authenticity, counsel should confirm the version in force at the relevant time (for example, at the date of a transaction, seizure, or dispute). The instrument’s legal effect can depend on whether later amendments altered the Schedule.
How Is This Legislation Structured?
This subsidiary legislation is structured in a straightforward manner:
(1) Enacting formula: It states the legal basis and authority, specifically the Currency Act section 17(5). This establishes the statutory power and the purpose of the notification.
(2) The Schedule: The Schedule contains the substantive information—namely, the denominations and characteristics of the coins to be issued on the stated date. The Schedule is the key document within the instrument.
(3) Administrative metadata and publication elements: The instrument includes references to MAS notification codes (as shown in the extract) and the instrument number (No. S 763). These elements support traceability and official publication.
Notably, the extract indicates that the instrument is largely a “notification” rather than a multi-part regulatory code. There are no separate “Parts” listed in the metadata, reinforcing that the Schedule is the central legal content.
Who Does This Legislation Apply To?
The instrument is directed primarily at the Monetary Authority of Singapore in the sense that it formalises the specifications of coins MAS is to issue. However, its practical reach extends to the wider public and to market participants who rely on the legal definition of coin denominations and characteristics.
In terms of applicability, the instrument matters to:
- Financial institutions and cash-in-transit providers that must recognise and process coins correctly;
- Retailers and businesses that accept cash payments and need to ensure their coin acceptance mechanisms align with legal specifications;
- Operators of coin-operated systems (vending machines, parking meters, ticketing kiosks) that require accurate coin recognition;
- Law enforcement and regulators in authenticity and enforcement contexts; and
- Members of the public seeking general information about the coins being issued.
Because the instrument is a public notification, it does not typically impose direct obligations on private parties in the way that licensing or offences provisions would. Instead, it provides the authoritative standard that underpins compliance and enforcement across the currency ecosystem.
Why Is This Legislation Important?
Although the instrument is narrow in scope, it is important because currency systems depend on standardisation. Coins must be recognisable, consistent, and legally defined. By requiring MAS to notify the denominations and characteristics, the Currency Act framework ensures that the public and industry have a reliable reference point.
From a legal risk perspective, the Schedule’s specifications can become central in disputes. For example:
- Authenticity disputes: Whether a coin is genuine or corresponds to the legally specified characteristics.
- Operational disputes: Whether a business’s coin acceptance system malfunctioned due to misalignment with the legally issued coin specifications.
- Enforcement actions: Whether seized items match the notified denominations and characteristics.
Additionally, the instrument’s publication and versioning matter. Currency specifications can change over time due to redesigns, updates, or new series. The platform’s indication of a “current version as at 27 March 2026” underscores that practitioners should not rely solely on the original 2004 notification date; they should check the current consolidated version and the timeline to confirm what the law requires at the relevant time.
Finally, while this instrument is not a “policy” document in the way that major currency reforms are, it is a key part of the legal infrastructure that makes Singapore’s cash system work smoothly. It translates MAS’s operational decisions into legally authoritative specifications.
Related Legislation
- Currency Act (Chapter 69) — in particular, section 17(5) (authorising notification of coin denominations and characteristics)
- Legislation Timeline / MAS-related instruments — as referenced by the platform (to confirm the correct version in force)
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.