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thumb|1973 Indian [[Proof coinage |proof set of coins]]
Coins of the Indian rupee (₹) were first minted in 1950. New coins have been produced annually since then and they make up a valuable aspect of the Indian currency system. Today, circulating coins exist in denominations of 1, 2, 5, 10, and 20 Indian rupees. All of these are produced by four mints located across India, in Kolkata, Mumbai, Hyderabad, and Noida.
History
After Indian independence in 1947, British Indian coins were in use as a frozen currency until the dominion of India became a republic in 1950. The first rupee coins of the Republic of India were minted in 1950. These included ₹1/2, ₹1/4, 2 anna, 1 anna, 1/2 anna & 1 pice coins, and are referred to as the anna series or pre-decimal coinage. Under the anna series, one rupee was divided into 16 annas or 64 pice, with each anna equal to 4 pice.
In 1957, India shifted to the decimal system, though for a short period of time, both decimal and non-decimal coins were in circulation. To distinguish between the two versions of pice coins in circulation (pre-decimal and decimal), the coins minted between 1957 and 1964 were printed with the legend “Naya Paisa” (“New Paisa”). The denominations in circulation were 1, 2, 3, 5, 10, 20, 25, 50 (naya) paisa and one rupee. Since rupees retained their pre-decimal value, pre-decimal coins of one, half and quarter rupees remained in circulation after decimalisation. With effect from 30 September 1968, all anna coins and British Indian (pre-decimalisation) rupee coins minted in quaternary alloy (1/2 silver composition) were officially demonetised, though pre-decimalisation rupee coins minted in pure nickel, including British Indian issues from June 1946 onwards, continued to be legal tender.
The word "naya" was dropped in 1964 and a new denomination, the 3 paisa, was introduced into circulation. A 20 paisa coin was minted in 1968. Neither of these coins gained much popularity. The 1, 2 and 3 paisa coins were phased out gradually in the 1970s. In 1982, a new 2 rupee coin was introduced experimentally to replace 2 rupee notes. The 2 rupee coin was not minted again till 1990, after which it was minted every following year.
Stainless steel coinage of 10, 25 and 50 paisa was introduced in 1988. In 1992, a new stainless steel rupee coin, smaller and lighter than the older rupee, was minted, alongside a 5 rupee Cupronickel coin.
In 2005, the 10 rupee coin was minted for the first time. Higher denomination coins were introduced due to an increasing demand for change and the increasing cost of printing ₹2, ₹5 and ₹10 banknotes.
On 30 June 2011, all coins in denominations of 25 paisa and below were officially demonetised.
Commemorative coins in circulation can be found in various denominations. They depict various special events or people, including Mahatma Gandhi, Jawaharlal Nehru, Indira Gandhi, B. R. Ambedkar, Rajiv Gandhi, Dnyaneshwar, the 1982 Asian Games, Vallabhbhai Patel, Subhas Chandra Bose, Sri Aurobindo, Chittaranjan Das, the 2010 Commonwealth Games, Shivaji, Bhagat Singh, Rabindranath Tagore, Atal Bihari Vajpayee, Jallianwala Bagh massacre, Bal Gangadhar Tilak etc.
Coin series: 1947–1957 (pre-decimalization)
Union of India 1947–1950
At Independence on 15 August 1947, India was partitioned into the new Dominion of India and Dominion of Pakistan. The new Dominion (or Union) of India retained the previous imperial currency with the portrait of King George VI. The basic unit of currency was the Indian rupee, which was itself divided into annas (16 annas to a rupee) and pice (the old spelling of paisa – 64 pice to a rupee). The lowest-denomination Indian coins, the half-pice (128 to a rupee) and the pie (192 to a rupee) were officially demonetized in 1947; while both denominations had continued to circulate up to that time, new examples were not minted after 1942 as they were practically worthless (India remained a member of the sterling area after independence and the rupee remained pegged to the pound sterling. Until 1966, the rupee was worth 1s.6d, or 18 old British pence; a half-pice was therefore worth 0.141 old pence and a pie 0.09 old pence.)
From 15 August 1947 until 26 January 1950, the Indian coinage structure was as follows:
{|class="wikitable"
!₹ and its fractions
!Annas
!Pice
!Pies (demonetized after 1947)
|-
|₹
|16 annas
|64 pice
|192 pies
|-
|Half ₹
|8 annas
|32 pice
|96 pies
|-
|Quarter ₹
|4 annas
|16 pice
|48 pies
|-
|1/8 ₹
|2 annas
|8 pice
|24 pies
|-
|1/16 ₹
|1 anna
|4 pice
|12 pies
|-
|1/32 ₹
|Half anna
|2 pice
|6 pies
|-
|1/64 ₹
|1/4 anna
|1 pice
|3 pies
|-
|}
(bold - denominations minted by the Government of India)
{|class="wikitable"
!Pre-decimal currency (1950-1957; minting ceased in 1955)
!Decimal currency replacement (1957–present)
!Decimal currency (dates minted)
|-
|N/A
|20 rupees
|2019–present
|-
|N/A
|10 rupees
|2005–present
|-
|N/A
|5 rupees
|1992–present
|-
|N/A
|2 rupees
|1982–present
|-
|Rupee
|1 rupee (divided into 100 new paise 1957–1964; divided into 100 paisa 1964–present).
|1962–present
|-
|Half rupee
|50 paise
|1957–2016
|-
|Quarter rupee
|25 paise
|1957-2002. Demonetized from 2011.
|-
|N/A
|20 paise
|1968-1994. Demonetized from 2011.
|-
|2 annas
{| class="wikitable"
|+1988 Stainless steel series
|-
! rowspan="2" |Denomination
! colspan="2" |Image
! rowspan="2" |Single/
Bi-metallic
! rowspan="2" |Metal
! rowspan="2" |Shape
! rowspan="2" |Diameter
! rowspan="2" |Minted in Year
|-
!Obverse
!Reverse
|-
|₹5
Five Rupees
|100px|
|100px|
|rowspan="6" |Singlemetallic
|rowspan="2" |Copper-Nickel
|Circular
|23 mm
| rowspan="3" |1992-2004
|-
|₹2
Two Rupees
|100px|
|100px|
|Hendecagonal
|26 mm
|-
|₹1
One Rupee
|100px|
|100px|
|rowspan="4" |Stainless steel
|rowspan="4" |Circular
|25 mm
|-
|50p
Fifty paise
|100px|
|100px|
|22 mm
|1988-2007
|-
|25p
Twenty-five paise
|100px|
|100px|
|19 mm
|1988-2002
|-
|10p
Ten paise
|100px|
|100px|
|16 mm
|1988-1998
|}
2004 Unity in Diversity Series
In 2004, RBI issued a series in denominations of 1 rupee, followed by 2 rupee and 10 rupee in 2005. These issues however came into circulation in 2006, and created a controversy over their design. 10 rupee coins were the first bimetallic coins issued in India, and because of the controversy (see below) and being minted in only one mint, most of the coinage never found its way into circulation. The ones which did were hoarded by Coin collectors and Coin hoarders.
{| class="wikitable"
|+2004 Unity in diversity Series
|-
! rowspan="2" |Denomination
! colspan="2" |Image
! rowspan="2" |Single/
Bi-metallic
! rowspan="2" |Metal
! rowspan="2" |Shape
! rowspan="2" |Diameter
! rowspan="2" |Minted in Year
|-
!Obverse
!Reverse
|-
|₹10
Ten rupees
|100px|Indian_Rs10_coin_2005version_obverse
|100px|Indian_Rs10_coin_2005version_reverse
|Bimetallic
||Center: Copper-Nickel
Ring: Aluminium-Bronze
| rowspan="4" |Circular
|27 mm
|2005-2007
|-
|₹5
Five Rupees
|100px|
|100px|
|rowspan="3" |Singlemetallic
|rowspan="3" |Stainless steel
|23 mm
|2007
|-
|₹2
Two Rupees
|100px|
|100px|
|26.75 mm
|2005-2007
|-
|₹1
One Rupee
|100px|
|100px|
|25 mm
|2004 - 2006
|}
2007 Hasta Mudra Series
In 2007 RBI issued a new series of Coins, The Hasta Mudra Series, in coins of 50 paisa, 1 rupee and 2 rupee denominations. These coins are stainless steel and feature various Hasta Mudras (hand gestures in Indian Classical dance). The 5 rupee piece that features waves in its design was also issued in 2007, along with a new 10 rupee coin. However, the design of the 10 rupee piece changed in 2008. The 5 rupee coin design was again reverted to the previous design, though it was issued in Nickel-brass instead of Copper-nickel. However, these 5 rupee and 10 rupee coins were not the part of the Hasta Mudra series.
{| class="wikitable"
|+2007 Hasta Mudra Series
|-
! rowspan="2" |Denomination
! colspan="2" |Image
! rowspan="2" |Single/
Bi-metallic
! rowspan="2" |Metal
! rowspan="2" |Shape
! rowspan="2" |Diameter
! rowspan="2" |Minted in Year
|-
!Obverse
!Reverse
|-
|₹2
Two Rupees
|100px|
|100px|
|rowspan="3" |Singlemetallic
|rowspan="3" |Stainless steel
| rowspan="3" |Circular
|27 mm
| rowspan="2" |2007-2011
|-
|₹1
One Rupee
|100px|Indian_Rs_1_coin_hasta_mudra_series_obverse
|100px|Indian_Rs_1_coin_hasta_mudra_series_reverse
|25 mm
|-
|50p
Fifty paise
|100px|
|100px|
|22 mm
|2008-2010
|}
2007 Common Circulation Series
The 5 rupee and 10 rupee coins were issued for common circulation in 2007, 2008, 2009 with changed designs and continued to be minted until the introduction of the Rupee Symbol series in 2011.
{| class="wikitable"
|+2007 Common Circulation Series
|-
! rowspan="2" |Denomination
! colspan="2" |Image
! rowspan="2" |Single/
Bi-metallic
! rowspan="2" |Metal
! rowspan="2" |Shape
! rowspan="2" |Diameter
! rowspan="2" |Minted in Year
|-
!Obverse
!Reverse
|-
|₹10
Ten rupees
|100px|
|100px|
|Bimetallic
||Center: Copper-Nickel
Ring: Aluminium-Bronze
| rowspan="3" |Circular
|27 mm
|2008 - 2010
|-
|rowspan="2" |₹5
Five Rupees
|100px|
|100px|
|rowspan="2" |Singlemetallic
||Stainless steel
|rowspan="2" |23 mm
|2007 - 2008
|-
|100px|
|100px|
||Nickel-brass
|2009 - 2010
|}
2011 Series with the Rupee Symbol (₹)
In 2011, RBI issued a series in denominations of 50 paise, ₹1, ₹2, ₹5, and ₹10. The 50p, ₹1, ₹2, and ₹5 designs are identical except the absence of the rupee symbol in 50p coin. The ₹10 coin continued to be issued in bimetallic issues as previously.
{| class="wikitable"
|+2011 Rupee Symbol Series
|-
! rowspan="2" |Denomination
! colspan="2" |Image
! rowspan="2" |Single/
Bi-metallic
! rowspan="2" |Metal
! rowspan="2" |Shape
! rowspan="2" |Diameter
! rowspan="2" |Minted in Year
|-
!Obverse
!Reverse
|-
|₹10
Ten rupees
|100px|observe
|100px|reverse
|Bimetallic
||Center: Copper-Nickel
Ring: Aluminium-Bronze
| rowspan="5" |Circular
|27 mm
| rowspan="4" |2011 - 2019
|-
|₹5
Five Rupees
|100px|observe
|100px|reverse
|rowspan="4" |Singlemetallic
||Nickel-brass
|23 mm
|-
|₹2
Two Rupees
|100px|observe
|100px|reverse
|rowspan="3" |Stainless steel
|25 mm
|-
|₹1
One Rupee
|100px|obverse
|100px|reverse
|21.93 mm
|-
|50p
Fifty paise
|100px|observe
|100px|reverse
|19 mm
|2011 - 2016
|}
2019 Grain Series
The Ministry of Finance has issued a notification on March 6 announcing the launch of 5 new coins in the country, namely the new ₹1, ₹2, ₹5, ₹10 and ₹20. The new series of coins are accessible to those with visual impairments and have an enhanced design. The coins were launched by Prime Minister Narendra Modi and Finance Minister Arun Jaitley. The design of the coins were prepared by the National Institute of Design while Security Printing and Minting Corporation of India Limited and the Ministry of Finance played the key role in the introduction of new coins in the country.
Various new features have been incorporated in the new series of circulation coins to make them more easy for the visually impaired people to use. The coins are characterized by increasing size and weight from lower to higher denominations from ₹1 to ₹20. All of the denominations would be of round shape, except the newly included coin of ₹20, which will be a 12 sided coin with no serrations.
{| class="wikitable"
|+2019 Grain Series
! rowspan="2" |Denomination
! colspan="2" |Image
! rowspan="2" |Single/
Bi-metallic
! rowspan="2" |Metal
! rowspan="2" |Shape
! rowspan="2" |Diameter
! rowspan="2" |Minted in Year
|-
!Obverse
!Reverse
|-
|₹20<br> Twenty Rupees<br/>
|103x103px
|102x102px
|rowspan="2" |Bimetallic
||Center: Nickel-brass
Ring: Nickel silver
|Dodecagonal
| rowspan="2" |27 mm
| rowspan="5" |2019
|-
|₹10
Ten Rupees
|101x101px
|103x103px
||Center: Copper-Nickel
Ring: Aluminium-Bronze
| rowspan="4" |Circular
|-
|₹5
Five Rupees
|100x100px
|100x100px
|rowspan="3" |Singlemetallic
||Nickel-brass
|25 mm
|-
|₹2
Two Rupees
|100x100px
|100x100px
|rowspan="2" |Stainless steel
|23 mm
|-
|₹1
One Rupee
| 100px
| 100px
|20 mm
|}
Mints
Each currency coin minted in India (and anywhere in the world) has a special mint mark on it to identify the mint.
Domestic Mint Marks
{| class="wikitable"
|+List of Indian Mints
!Mint
!Year of Establishment
!Mint Mark
!Note
|-
|Kolkata Mint
|1757
|no mint mark beneath the date of the coin
|
|-
|Hyderabad Mint
|1803
|★ beneath the date of the coin
|also split diamond or a dot in diamond
on some coins
|-
|Mumbai Mint
|1829
|◆ beneath the date of the coin
|"B" or "M" in proof sets.
|-
|Noida Mint
|1988
|● beneath the date of the coin
|
|-
|}
Foreign Mint Marks
Due to the increasing demand for the circulation of coins, the Indian government was forced to mint coins in foreign countries at various points in the country's history.
{| class="wikitable"
|+List of coins minted in foreign mint
!Mint
!Country
!Year
!Coin
!Mint Mark
|-
|Birmingham Mint
| rowspan="2" |United Kingdom
| rowspan="4" |1985
| rowspan="2" |₹1.00
|'H' below last digit of the year
|-
|Royal Mint
|'◆' below first digit of the year
|-
|Taegu Mint
|South Korea
|₹0.50
|'★' below first digit of the year
|-
| rowspan="2" |Royal Canadian Mint
| rowspan="2" |Canada
|₹0.25
| rowspan="2" |'C' below mid of the year
|-
|1988
|₹0.10, ₹0.25, ₹0.50
|-
|Mexican Mint
|Mexico
|1997
|₹1.00
|32x32pxbelow mid of the year
|-
|Seoul Mint
|South Korea
|1997, 1998
|₹2.00
|'★' below last digit of the year
|-
|Kremnica Mint
|Slovakia
|1998, 1999, 2000, 2001
|₹1.00
|20x20px below mid of the year
|-
|Pretoria Mint
|South Africa
|1998
| rowspan="3" |₹2.00
|(M) below mid of the year (oval shape)
|-
|Tower Mint
|United Kingdom
|1999
|'⊔' below mid of the year
|-
| rowspan="2" |Moscow Mint
| rowspan="2" |Russia
|2000
| rowspan="2" |'MMD' below mid of the year
|-
|1999, 2000
|₹5.00
|}
Commemorative coins
thumb|5 Rupees coin [[Commemorative coin|commemorating the birth centenary of Jawaharlal Nehru in 1989.]]
thumb|Different commemorative coins of 5 Rupees
thumb|10 Rupees silver coin of India 1972 (25 years of India's independence)
The first Indian commemorative coin was issued in 1964 in remembrance of Jawaharlal Nehru's birth anniversary. Since then, numerous coins from 5 paise (INR 0.05) to ₹1000 (INR 1000.00) have been issued. These coins based on birth or death centenary of famous personalities or on recently dead, commemoration of special government programs or sport events, anniversaries of historical incidents, government organisation etc.
List of Commemorative Coins
{|class="wikitable sortable"
!Commemorative
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.
However, Hindu nationalists have charged that the symbol is a Christian cross resembling the symbol on the deniers issued by Louis the Pious.
thumb|10 Rupees [[bimetallic coins.]]
See also
- Indian rupee
- Coinage of India
- Banknotes of the Indian rupee
References
External links
- Reserve Bank of India Coinage Museum
- Reserve Bank of India Paper Money
- www.indian-coins.com
- India Coin Catalog
- A blog on Antiques & Collectibles
- India Coin News & Forums