Soubiksha Lakshmanan, Author at Goody Feed

Since yesterday, there have been reports the new British £1 coin and how similar it looks to the Singaporean S$1 coin. If you haven't seen the latest British £1 coin yet, here's a first look at it. Singapore S$1 coin image source:http://sgforums.com/forums/1802/topics/471962British £1 coin image source:http://money.cnn.com/2016/10/31/news/new-pound-coin-vending-machines/Looks wise, the size and the shape is pretty similar - just the fact that the British coin has 12 sides, and that the shade of gold on the coin looks a little more yellowish. Okay, and not forgetting the embossing on the coin. 12-sided coin can help reduce fraudIt was also reported that the distinctive features of the 12-sided British coin introduced can help to reduce fraud in the country. Here's why. image source:https://www.thenewpoundcoin.com/media/1003/rm-1-diagram-poster.pdfThe 12 sided coin makes it easier to identify it from the counterfeit coins by touch. The British £1 coin is also made from 2 different types of metal - the gold outer ring made of nickel-brass and the silver-coloured inner ring made of nickel plated aloy - making it more difficult to counterfeit. There's even a hidden high-security feature that is built in the coin to protect it from counterfeiting in the future!It's definitely something that has been created with a lot of consideration. Maybe Singapore can adopt this next? Featured image:http://www.mirror.co.uk/all-about/new-pound-coinThis article was first published on www.goodyfeed.comRead AlsoMan buys $80K Car with Coins and Small Notes Because No One Wants His MoneyA Study Just Shows That Having Money Can Really Buy Happiness

Soubiksha Lakshmanan

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