Britain is to get a new 12-sided £1 coin which the government promises will be the most secure in the world and help to fight counterfeiters.
Today I will deliver a Budget for a resilient economy - starting with a resilient pound coin pic.twitter.com/Ev2IuNpXg4- George Osborne (@George_Osborne) March 19, 2014
Today I will deliver a Budget for a resilient economy - starting with a resilient pound coin pic.twitter.com/Ev2IuNpXg4
Waste of money?..
IMHO, the better approach (and use of the Gov't resources) would be to push the UK towards cashless society/digital currency. That's where the future is...
Agreed Alexander, but perhaps it will be quite many years before physical currency becomes second class in terms of usage. In the meantime stepping up security of coins does make sense.
One a separate note, these are eerily similar to the S$1 coins Singapore introduced in mid-2013...
I agree with Kevin. It'll be quite a while before the general public are ready to shed their dependency on cash and give 'big brother' the opportunity to track every transaction.
The thing that surprised me about the new coin is its size. Given the ongoing difficulties in getting £5 notes into circulation and £1 coins being issued as change on sub £10 transactions, I think they missed a trick to make it much smaller than in the picture.
Couldn't they give it a size between the 20p and 50p piece? It'd be more convenient to carry!
to £100k base, commission, benefitsLondon, UK
© Finextra Research 2015