The UK treasury has announced that they will have a new £1 coin, to replace their older, round ones.

This is to reduce the occurrence of fraud, which is a big problem in the UK -- approximately 2.55% of all £1 coins are fakes. 

This is how the new coin looks like :

Feel like you're seeing double? You're not alone.

Yes, the new £1 coin looks very much like our $1 coin.

Furthermore, our own coins were upgraded four years ago for the very same reason, to reduce fraud.

Before you shout "it's a carbon copy", well, there are two things you should know:

1) The concept of two-coloured coins (a.k.a bi-metallic coins) has been around before your grandfather was born.

There have been evidence of such a combination since the 17th century.

Though, in terms of mass-circulation, Italians did it first in 1982, before the French, then Moroccans, the Thais and other countries.

Furthermore, the UK already had a bi-metallic £2 coin in 1997, way before our $1 coin which was introduced in 2013.

2) The £1 coin has 12 sides, our one looks like a bagua (8-sided fengshui instrument).

As a 12-sided coin, by the way, is the reputedly the most secure coin in the world.

But of course, the difference probably won't stop Singaporeans from pointing out the similarities.

Top adapted via

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