- Modern Indian coins
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The pictures of the coins and paper currencies can be found at Reserve Bank of India Coinage Museum, Reserve Bank of India Paper Money., www.indian-coins.com.
India became independent on 15 August 1947 and was left with a legacy of non-decimal coinage. One rupee was divided into 16 annas or 64 pice, with each anna therefore equal to 4 pice. In 1957, India shifted to the decimal system, but for a short period both decimal and non-decimal coins were in circulation. To distinguish between the two pice, the coins minted between 1957 and 1964 have the legend "Naya Paisa" ("new" paisa). The denominations in circulation were 1, 2, 5, 10, 20, 25, 50 (naya)paise and one rupee which remained as the same pre-decimal value. Therefore pre-decimal coins of one, half and quarter rupees could remain in circulation after decimalisation. See below #Coin series.
The word "naya" was dropped in 1964. In this year a new denomination the 3 paise was introduced and in 1968 a 20 paise coin was minted Both these coins however did not gain much popularity. The 1, 2 and 3 paise coins were phased out gradually in the 1970s.
In 1982 a new coin, 2 rupees, was introduced as an experiment to replace 2 rupee notes. The 2 rupee coin was not minted again till 1990, after which it was minted every year.
Stainless steel coinage of 10, 25 and 50 paise, was introduced in 1988 and in 1992, a new rupee coin was minted. This coin was smaller and lighter than the older rupee and was also made of stainless steel. In 1992, a 5 Rupees Cupronickel coin was introduced. In 2006, 10 Rupees coin was minted for the first time. The higher denomination coins were introduced due to increasing demand for change and increasing cost of printing 2, 5 and 10 rupees banknotes.
India issues several types of coins. Some special coins were minted in memory of special events or people and these are referred to as commemorative coins. Commemorative coins can be for collectors and also for circulation. They can be found in various denominations. Some of commemorative coins include coins depicting Mahatma Gandhi, Jawaharlal Nehru, Indira Gandhi, B. R. Ambedkar, Rajiv Gandhi, Dnyaneshwar, 1982-Asian Games, Sardar Vallabhbhai Patel, Subhash Chandra Bose, Sri Aurobindo, Chittaranjan Das, and Chhatrapati Shivaji.
Contents
Coin series
Republic of India Coins: Chronologically, the main considerations influencing the coinage policy of Republic of India over time have been: The incorporation of symbols of sovereignty and indigenous motifs on independence; Coinage Reforms with the introduction of the metric system; The need felt from time to time to obviate the possibility of the metallic value of coins rising beyond the face value; The cost-benefit of coinisation of currency notes.
Ashok-Stambha (Ashoka's Pillar)
The Ashok-Stambha (Ashoka's Pillar) is a motif on all Republic of India coins. The symbol is a representation of peace and non-violence.
The coins of India post-independence could broadly be categorised as
The frozen series 1947-1950
This represented the currency arrangements during the transition period up to the establishment of the Indian Republic. The monetary system remained unchanged at one rupee consisting of 192 pies.
1 rupee = 16 annas
1 anna = 4 pice (plural of paise)
1 paise = 3 pies
The anna series
This series was introduced on 15 August, 1950 and represented the first coinage of Republic India. The King's Portrait was replaced by the Lion Capital of the Ashoka Pillar. A corn sheaf replaced the Tiger on the one Rupee coin. In some ways this symbolised a shift in focus to progress and prosperity. Indian motifs were incorporated on other coins. The monetary system was largely retained unchanged with one Rupee consisting of 16 annas.
The Anna Series Denomination Metal Obverse Reverse One Rupee Nickel Half Rupee Nickel Quarter Rupee Nickel Two Anna Cupro-Nickel One Anna Cupro-Nickel Half Anna Cupro-Nickel Quarter Anna Cupro-Nickel One Pice Bronze One Pice Bronze One Pice Bronze The decimal series
The move towards decimalisation was afoot for over a century. However, it was in September, 1955 that the Indian Coinage Act was amended for the country to adopt a metric system for coinage. The Act came into force with effect from 1 April 1957. The rupee remained unchanged in value and nomenclature. It, however, was now divided into 100 'paisa' instead of 16 annas or 64 pice. For public recognition, the new decimal paisa was termed 'Naya Paisa' till 1 June 1964 when the term 'Naya' was dropped.
Naya paisa series 1957-1966
The Naya Paisa Series Denomination Metal Weight Shape Size Image One Rupee Nickel 10 g Circular 28 mm Fifty Naye Paise Nickel 5 g Circular 24 mm Twenty Five Naye Paise Nickel 2.5 g Circular 19 mm Ten Naye Paise Cupro-Nickel 5 g Eight Scalloped 23 mm (across scallops) Five Naye Paise Cupro-Nickel 4 g Square 22 mm (across corners) Two Naye Paise Cupro-Nickel 3 g Eight Scalloped 18 mm (across scallops) One Naya Paisa Bronze 1.5 g Circular 16 mm With commodity prices rising in the sixties, small denomination coins which were made of bronze, nickel-brass, cupro-nickel, and aluminium-bronze were gradually minted in aluminium. This change commenced with the introduction of the new hexagonal 3 paise coin. A twenty paise coin was introduced in 1968 but did not gain much popularity.
Aluminium series 1964 onwards
The Aluminium Series Denomination Metal Weight Shape Size Image Twenty Paise Aluminium-Magnesium 2.2 g Hexagonal 24.5 mm (across flats) Ten Paise Aluminium-Magnesium 2.3 g Scalloped 26 mm (across scallops) Five Paise Aluminium-Magnesium 1.5 g Square 22 mm (Diagonal) Three Paise Aluminium-Magnesium 1.25 g Hexagonal 21 mm (Diagonal) Two Paise Aluminium-Magnesium 1 g Scalloped 20 mm (across scallops) One Paisa Aluminium-Magnesium 0.75 g Square 17 mm (Diagonal) Over a period of time, cost benefit considerations led to the gradual discontinuance of 1, 2 and 3 paise coins in the seventies; stainless steel coinage of 10, 25 and 50 paise, was introduced in 1988 and of one rupee in 1992. The very considerable costs of managing note issues of Re 1, Rs 2, and Rs 5 led to the gradual coinisation of these denominations in the 1990s.Though in 1997, Indian government issued a 50 rupee coin with 50% silver content and 50 paise coin of steel. On both the occasions only 50 paise coin was introduced in the circulation. But, disappointingly in 1997 these coins didn’t became popular, as 50 paise coins were not much in use. Most of the Indians don’t even know whether any coin was even issued in golden jubilee year of independence
Contemporary coins
The Contemporary Coins Denomination Metal Weight Shape Size Image Five Rupees Cupro-Nickel 9.0 g Circular 23 mm Two Rupees Cupro-Nickel 6.0 g Eleven Sided 26 mm One Rupee Ferratic Stainless Steel 4.85 g Circular 25 mm Fifty Paise Ferratic Stainless Steel 3.79 g Circular 22 mm Twenty Five Paise Ferratic Stainless Steel 2.83 g Circular 19 mm Ten Paise Ferratic Stainless Steel 2.0 g Circular 16 mm Cupro-Nickel coins are not minted anymore. Ferratic Stainless Steel coins of Two and Five Rupee deniminations are currently in production.[1]
Indian mints
Indian coins have been minted both in and outside of India. The coins minted are usually from one of the four Indian mints. They are Calcutta (Kolkata), Bombay (Mumbai), Hyderabad and Noida. The earliest mints of India are Calcutta and Bombay. Hyderabad was the third mint established in India. The last of mint established in India is Noida, which is on the outskirts of New Delhi. To see the pictures of the mint marks visit http://republiccoins.indian-coins.com/mintmarks.htm.
Indian coins minted in foreign mints/countries
Because of the increasing demand for coins, Indian government was forced to mint coins in foreign countries. They are Daegu Korea, Seoul Korea, Royal Mint Ottawa Canada, Royal Mint London UK, Birmingham Uk, South Africa - Pretoria Mint, Tower Mint - UK, Mexico City Mint, Slovakia Kremnca Mint, and Russia Moscow Mint. Please refer to the table by clicking on the following link for the mint, their mint mark and identification process. www.indian-coins.com
Controversy over 2006 two-rupee coin
denier of Louis.The two-rupee coin issued from 2006 by the Reserve Bank, in stark contrast to the earlier coin, is rounded and simpler in design, without the map of India. The coin has already been criticized for being difficult to recognize by the visually impaired[1]. Most controversially, it features an equal-armed cross with the beams divided into two rays and with dots between adjacent beams, which the RBI claims to be "four heads sharing a common body" under a new "unity in diversity" theme[2]. However there is no history in India of a cross of this nature or any other cross being used to represent this theme. Outraged Indian commentators, bloggers and Hindu nationalists have charged that the symbol is a Christian cross, pointing out its strong resemblance (equal-armed cross and dots) to the symbol on the deniers issued by Louis the Pious[3].
India's First Bimetallic Rupees 10 Coin Issued
India' s much awaited first ever bimetallic Rupees 10 coin is now issued and available for sale on some auction websites, but the rate of this coin is very high in comparison to its denomination due to the uncertain number of issued coins. Some coin sellers claim that this coin is a limited edition. But official information is not yet available on the number of mintage. A recent press release from Reserve Bank of India mentioned that there will be two themes of Rupees 10 coins; Unity in Diversity, and Connectivity and Information technology.
References
[http://www.coinsindia.info Indian Coins and Numismatics Forum
Commemorative Coins of India
The first Indian commemorative coin was issued in 1964 to mourn the death of Jawaharlala Nehru,the first Prime Minister of India.Since then numerous coins of these type on almost all denomination from 5 paise to 10 rupees have been issued .These coins based on famous personalities (usually issued on their birth or death cenetary orin rare case on their death),Government programmes and social message. Some coins and their themes are:
- Jawaharlal Nehru
- Mahatma Gandhi
- Food and Agriculture Organization
- 25 years of Independence
- Grow More Food
- Small Family,Happy Family
- Women's Year
- Food and Work for all
- Food and Shelter for all
- II World Food Day
- IX Asian Games
- National Integration
- Golden Jubilee of Reserve Bank of India
- Indira Gandhi
- International Youth Year
- Small Farmer
- Fisheries
- 15 Years of ICDS
- 50 Years of Supreme Court
- 150 Years of Railways
- Loknayak Jaiprakash Narayan
- Lal Bahadur Shastri
- State Bank of India
- Oil and Natural Gas Corporation Ltd
- Double Birth Cenetary of Louis Braile
- 1000 Years of Brihadeeshwar Temple
- Food for Future
- Birth Cenetary of Nehruji
- Forestry for Development (Vikas ke liye Vanikee)
See also
- History of Rupee
- Indian coinage
- Indian Rupee
- Commemorative coins of India
Categories:- Coins of India
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