I think the operative word here is "economical". It appears that no time at all has been spent on the finishing of the timber.
The top and sides look to be engineered softwood, which is essentially glued together strips, which ensures that no timber is wasted in production.
The drawer fronts look like they would have benefitted from some sandpaper before varnishing.
Out of interest, I googled Peter Nichols cabinets. These appear to be well made, well finished and constructed with proper joints, using seasoned mahogany.
The first, you could keep your coins in. The second, you would be proud to display. Maybe more expensive but I know which option I'd go for.
Just a personal opinion.