Coins of the Indian rupee
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, Subhas Chandra Bose, Sri Aurobindo, Chittaranjan Das, Chhatrapati Shivaji and logo of 2010-Commonwealth Games.
Coin series
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.
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
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
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.
| 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 |
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
| 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
| Denomination | Metal | Weight | Shape | Size | Image |
|---|---|---|---|---|---|
| One Paisa | Aluminium-Magnesium | 0.75 g | Square | 17 mm (Diagonal) | |
| Two Paise | Aluminium-Magnesium | 1 g | Scalloped | 20 mm (across scallops) | |
| Three Paise | Aluminium-Magnesium | 1.25 g | Hexagonal | 21 mm (Diagonal) | |
| Five Paise | Aluminium-Magnesium | 1.5 g | Square | 22 mm (Diagonal) | |
| Ten Paise | Aluminium-Magnesium | 2.3 g | Scalloped | 26 mm (across scallops) | |
| Twenty Paise | Aluminium-Magnesium | 2.2 g | Hexagonal | 24.5 mm (across flats) |
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
| 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 denominations 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.
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.
Controversy over 2006 two-rupee coin
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. According to RBI, this design represents "four heads sharing a common body" under a new "unity in diversity" theme.[2] However, Hindu nationalists have charged that the symbol is a Christian cross resembling the symbol on the deniers issued by Louis the Pious.[3]
India's First Bimetallic Rupees 10 Coin Issued
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India' s much awaited first ever bimetallic Rupees 10 coin was released in 2005 under the theme - Unity in Diversity. But due to its controversial design resembling a Cross it was criticised and was not minted in large numbers. Another reason for its availability being scarce is that it was minted only in one (Noida) out of the 4 mints in India. Coin dealers and the public who got this coin hoarded it and it never came into circulation. It is 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 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. From 2008 coins based on the second theme - Connectivity and Information technology were also released. The coin depicts 15 rays above the numeric 10. It was again minted only by the Noida mint and was not easily available in circulation. From 2011 the same theme was continued with a slight design change showing ten rays instead of the earlier 15 and the introduction of the new Re symbol. Now it is being minted in all the 4 mints (Mumbai, Kolkata, Hyderabad & Noida) Apart from these definitive coins 10 Rs Bi-metallic Commemorative coins have also been released as follows : 2008 – Tri Centenary of Gur-ta-Gaddi 2009 – Homi Bhabha Birth Centenary 2010 – RBI Platinum Jubilee 2012 – 60 Years of Parliamants first sitting.
See also
References
Commemorative Coins of India
| This article contains a list of miscellaneous information. |
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
- Annadurai
- 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)
- Sant Tukaram
- Commonwealth Games 2010
- Basavanna
- Chhatrapati Shivaji
- B.R.Ambedkar
- Biodversity World Food Day
- 50 Years of independence
- Reserve Bank of India
- Mother Therasa
- Rajiv Gandhi
- Care for girl child
- Shama Prasad Mukarji
Different Mints
| This article contains a list of miscellaneous information. |
Modern Indian coins have not only been minted in India. Quite a few of them are outsourced to different countries which provide these coins for India.
Indian Mint Marks on Coins
(a) BOMBAY MINT (Mumbai)- The Bombay Mint has a small dot or diamond mint mark under the date of the coin.
(b) CALCUTTA MINT (Calcutta]- The Calcutta Mint has no mint mark beneath the date of coin or a C is seen at 6'o clock position in British India coins.
(c) HYDERABAD MINT- The Hyderabad Mint has split diamond or a dot in diamond or five pointed star under the date of coin.
(d) LAHORE MINT- The Lahore Mint has a letter "L" mint mark under the date of the coin. Production started on 5 October 1943 A.D.
(e) NOIDA MINT- The Noida Mint has a small or thick dot under the date of the Coin. Production Started in 1988.
Foreign Mint Marks on Indian Coins
(a) PRETORIA MINT– The Pretoria Mint has diamond mark under the date 1943.
(b) SEOUL MINT- The Seoul mint has a “Five Pointed Star" under the date of the coin but exactly below the first or Last Digits of dates 1985 and 1997.
(c) ROYAL MINT LONDON- The Birmingham Mint has a small dot under the date of the coin but exactly below the First Digit of Date 1985.
(d) HEATON PRESS MINT- This Mint has Ornamental/ Decorated Letter "H" under the last digit of the date 1985.
(e) ROYAL CANADIAN MINT, OTTAWA- This Ottawa Mint has a "C" mint mark under the date of the coin.
(f) MEXICO MINT-The Mexico City Mint has an "M" mint mark under the date of the coin.