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Republic India Coinage
India won its independence on 15th August, 1947. During the period of transition India retained the monetary system and the currency and coinage of the earlier period and introduced a new distinctive series of coins on 15th August, 1950.
Chronologically, the main considerations influencing the coinage policy of Republic India over time have been:
1. The incorporation of symbols of sovereignty and indigenous motifs on independence;
2. Coinage Reforms with the introduction of the metric system;
3. The need felt from time to time to obviate the possibility of the metallic value of coins rising beyond the face value;
4. The cost-benefit of coinisation of currency notes
Independent India Issues could broadly be categorised as follows:
This represented the currency arrangements during the transition period upto 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
1 Pice = 3 Pies
This series was introduced on 15th 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.
Nickel
Nickel
Nickel
Cupro-Nickel
Cupro-Nickel
Cupro-Nickel
Bronze
The move towards decimalisation was afoot for over a century. However, it was in September 1955 that the Indian Coinage Act 1906 was amended to pave the way for the country to adopt a metric system for coinage. The amended Act came into force with effect from 1st 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 1st June 1964, when the term 'Naya' was dropped. The value is described in Hindi explaining the value equal to the hundredth part of one rupee.
Nickel 10 gm Circular 28 mm
Nickel 5 gm Circular 24 mm
Nickel 2.5 gm Circular 19 mm
Cupro-Nickel 5 gm Eight Scalloped 23 mm (across scallops)
Cupro-Nickel 4 gm Square 22 mm (across corners)
Cupro-Nickel 3 gm Eight Scalloped 18 mm (across scallops)
Bronze 1.5 gm 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.
Nickel 5 gm Circular 24 mm
Nickel 2.5 gm Circular 19 mm
Cupro-Nickel 5 gm Eight Scalloped 23 mm (across scallops)
Cupro-Nickel 4 gm Square 22 mm (across corners)
Cupro-Nickel 3 gm Eight Scalloped 18 mm (across scallops)
Bronze 1.5 gm Circular 16 mm
In 1965, the elaborate descriptions were dropped and the word ‘paisa’/ ‘paise’ was used both in Hindi and English.
Cupro-Nickel 8 gm Circular 28 mm
Cupro-Nickel 5 gm Circular 24 mm
Cupro-Nickel 2.5 gm Circular 19 mm
Nickel-Brass 4.5 gm Circular 22 mm
Aluminium-Magnesium 2.3 gm Scalloped 26 mm (across scallops)
Nickel-Brass 4.24 gm Eight Eight Scalloped 23 mm
Aluminium-Magnesium 4 gm Square 22 mm (Diagonal)
Aluminium-Magnesium 1.25 gm Hexagonal 21 mm (Diagonal)
Aluminium-Magnesium 1 gm Scalloped 20 mm (across scallops)
Aluminium-Magnesium 0.75 gm Square 17 mm (Diagonal)
Cupro-Nickel 6 gm Circular 26 mm
Cupro-Nickel 5 gm Circular 24 mm
Aluminium-Magnesium 2.2 gm Hexagonal 26 mm (diagonal) 24.5 mm (across flats)
Aluminium-Magnesium 1.75gm Scalloped 23 mm (across scallops)
Aluminium-Magnesium 1.5 gm Square 22 mm (Diagonal)
Over a period of time, cost-benefit considerations led to gradual discontinuance of 1, 2 and 3 paise coins in the seventies; stainless steel coins of 10, 25 and 50 paise, were introduced in 1988 and of one rupee in 1992. The 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. New designs depicting Rhinoceros on 25 paise and the Indian Parliament superimposed on India map on 50 paise were introduced in ferritic stainless steel.
Ferritic Stainless Steel 4.85 gm Circular 25 mm
Ferritic Stainless Steel 3.79 gm Circular 22 mm
Ferritic Stainless Steel 2.83 gm Circular 19 mm
Ferritic Stainless Steel 2 gm Circular 16 mm
In 1982, the Rs. 2/- coin was introduced depicting the India map superimposed with the national flag explaining National integration. In 1992, the Rs. 5/- definitive coin in cupro-nickel was introduced to supplement the paper currency. Lotus buds and flower with stems and leaves became the main motif of this denomination. The lotus symbol was re-introduced on Rupee symbol series in 2011 for all denominations except Rs. 10/-.
Cupro-Nickel 9 gm Circular 23 mm
Cupro-Nickel 8 gm Circular 28 mmm
Cupro-Nickel 6 gm Eleven sided 26 mm
Coins of Republic of India since 2000
In 2003 the demand for coins, particularly of lower denominations, had declined considerably. There was a reverse flow of coins of 5 paise, 10 paise and 20 paise denominations. It was, therefore, decided to phase out from circulation all lower denomination coins such as 5 paise, 10 paise and 20 paise and cupro-nickel coins of 25 paise, 50 paise and one rupee.
In view of the reported melting of Rs.2 cupro-nickel coins due to rising metal prices, the Government of India in consultation with the Reserve Bank of India decided to mint all denomination coins in ferritic stainless steel (FSS) in 2006.
The first decade of the 21st century witnessed many new varieties of definitive coinage of the Indian Republic and put into circulation for general public. The increase in the demand of the metallic currency lead to the introduction of a few new series namely
1) Unity in Diversity
2) Nritya Mudra and
3) Connectivity and Information Technology.
They depicted the solidarity of the Indian public, rich cultural heritage, advancement in information technology and connectivity. For the first time, the concept of using bi-metal in manufacturing coins was introduced for Rs. 10/- to avoid counterfeiting.
The new coin series has been designed with tactile factor for visually challenged people with new graphic look. The Government of India, Ministry of Finance entrusted National Institute of Design (NID), Ahmedabad with the task of designing the new series.
In 2005, a series namely ‘Unity in Diversity’ was introduced in denominations of Re. 1/- followed by Rs. 2/- and Rs. 10/- in 2005. These issues, however, came into circulation in 2006. The Unity in Diversity has intersecting line/s with 4 dots.
2005-06 Unity in diversity Series
Bimetallic Cupro-Nickel in Center Aluminium Bronze in outer ring 7.71 gm Circular 27 mm
Ferritic Stainless Steel 5.62 gm Circular 27 mm
Ferritic Stainless Steel 4.85 gm Circular 25 mm
In 2007 a new series known as ‘Nritya Mudra’ was introduced in the denominations of 50 paise, Re. 1/- and Rs. 2/-. These coins were of ferritic stainless steel. The gestures used on the 50 paise was “Clenched Fist”, on Re. 1/- “Thumbs Up” and on Rs. 2/- was “Two Fingers”
2007 Nritya Mudra Series
Ferritic Stainless Steel 5.62 gm Circular 27 mm
Ferritic Stainless Steel 4.85 gm Circular 25 mm
Ferritic Stainless Steel 3.79 gm Circular 19 mm
In 2007, Rs. 5/- ferritic stainless steel coin with waves in its design was issued. In 2008, a new Rs. 10/- coin with 15 rays connecting inner and outer rings/circles was issued. These are 2 distinct designs, one is radiating sun rays symbolising vertical flow and the other is water waves depicting the smooth fluid mass expanding horizontally representing the ceaseless flow of data/information in the atmosphere.
2007-09 Connectivity and Information Technology Series
Bimetallic Cupro-Nickel in Center Aluminium Bronze in outer ring 7.71 gm Circular 27 mm
Ferritic Stainless Steel 6 gm Circular 23 mm
In 2009 Rs. 5/- coin design was again reverted to the previous lotus motif
Nickel Brass 6 gm Circular 23 mm
In 2011, the Rupee symbol (₹), the identity mark of Indian rupee was introduced in denominations of ₹1, 2 and 5 depicting lotus buds and flower with stems and leaves on either side of the denominational value. The ₹10 coin continued to be issued in bi-metal as previously with ‘₹’ above the numeric value with ten rays instead of fifteen. New 50 paise denomination also issued in the new series.
2011 Rupee Symbol Series
Bimetallic Cupro-Nickel in Center Aluminium Bronze in outer ring 7.71 gm Circular 27 mm
Nickel Brass 6 gm Circular 23 mm
Ferritic Stainless Steel 4.85 gm Circular 25 mm
Ferritic Stainless Steel 3.79 gm Circular 22 mm
Ferritic Stainless Steel 2.83 gm Circular 19 mm
In the exercise of powers conferred by Section 15A of the Coinage Act, 1906 (3 of 1906), the Government of India decided to call in from circulation coins of denomination of 25 paise and below with effect from end-June 2011. Thereafter, these coins ceased to be legal tender for payment as well as on account.
भारतीय रिझर्व्ह बँक मोबाईल ॲप्लिकेशन इंस्टॉल करा आणि नवीनतम बातम्यांचा त्वरित ॲक्सेस मिळवा!
