It would seem that news of the impending change in the design of the pound coin is generating more reactions than the budget in which it was announced on Wednesday.
Judging from the comments on blogs and social media, it would appear that the British public is not pleased with the new design, in fact, they are very very pi***d by it.
It did come as a bit of a surprise that after 30 years, the good ‘ol British pound coin (popularly called ‘Iya Charlie’) by Nigerians will be replaced by this new Euro looking coin.
But, considering that 3% of the total £1 coins in circulation (about 45 million) are said to be fake, according to the chancellor, then it does make economic sense to make a harder, almost impossible to fake one.
According to a statement from the treasury office, “After 30 years loyal service, the time is right to retire the current £1 coin, and replace it with the most secure coin in the world.
“With advances in technology making high value coins like the £1 ever more vulnerable to counterfeiters, it’s vital that we keep several paces ahead of the criminals to maintain the integrity of our currency.
“We are particularly pleased that the coin will take a giant leap into the future, using cutting edge British technology while at the same time, paying a fitting tribute to past in the 12-sided design of the iconic Threepenny bit”.
Quite frankly, we don’t like it either. It looks like a £2 coin has had an ugly fight with a 50p coin, the result of which is this 12 sided creation.
One must wonder if the chancellor didn’t put into consideration those of us who have to use the coin in paying for parking and supermarket trolleys. Maybe all of these will now be changed too to accommodate this new design.
What do you think? Better than the old one?