SINGAPORE – The Monetary Authority of Singapore (MAS) on Monday (15 May) launched a new S$10 coin (LKY100 coin) to commemorate the 100th birth anniversary of Singapore's founding Prime Minister Lee Kuan Yew.
In a press release, MAS said that "the coin pays tribute to Mr Lee's 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 coin – at 30mm, it is about 22 per cent larger than the current Third Series S$1 circulation coin – is designed by local artist Weng Ziyan.
Gold in colour and minted in aluminium bronze, its design features a portrait of Lee, accompanied in the foreground by the Marina Barrage, "representing Mr Lee's vision to build a freshwater reservoir in the city, strengthening Singapore's water resilience".
Meanwhile, the backdrop is the skyline of the Raffles Place financial district, and two heritage buildings which have witnessed significant milestones in Singapore's history – Fullerton Hotel and National Gallery Singapore.
The other side of the coin has the Singapore Coat of Arms with a dual latent image featuring Lee's birth year of '1923' when viewed from one angle, and his 100th birth anniversary '2023' when viewed from another.
How to get the LKY100 coin
Applications can be made online from Monday till the end of 9 June. The applicant must be a Singapore citizens or permanent resident.
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," said MAS.
"No upfront payment will be requested at the point of application. Successful applicants will pay for the coin(s), at its face value of S$10 each, when collecting the coin(s) at the banks," MAS added.
The LKY100 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, collection period and bank branch allocated. All SMS notifications from MAS for the LKY100 coin will not contain any clickable link nor ask for any upfront payment.
"LKY100 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.