Dieter Baumgarten (Germany) e-mail post @ Dieter-Baumgarten.de home-Indiacoins-english

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Coining history of India (abstract)

Independent India since 1947
India won its independence on August 15th, 1947. Pakistan presented a new series of coins in 1948 and new notes in 1949. India issued the first coins and notes after the founding of the India Republic on 15th august 1950. The English colonial currency was between the official “frozen” currency by agreement. The British royal coining places in Bombay and Kalkutta were taken. The formerly princely coining place of the last Moghul rulers in addition was taken from Hyderabad. At the issue of the currency of one's own fundamental specifications of the British lasted. The reserve bank of India (RBI) is the main manager of the Indian currency. She coordinates the currency name, the draft of bills up to the safety features, with the government. The entire organization of the amounts of pressure, the repatriation of old bills and the stockpiling is subject to the supervision of the reserve bank. The government is responsible for the design and the strike of coins. The amount of the coins to be minted is also determined by the government. In turn the distribution of the money is carried out via the RBI. The bills and rupee pieces are distributed over select branch banks. (petty cash over small depots and the other over currency chest) (There are over 4,181 "currency safes" and 3,552 coining stores at the moment.)
					As a general currency symbol the emblem of the reserve bank of India was chosen. It was already symbol of the East India company and the British crown on gold coins - the Mohur with a lion in the front of a palm (Copy of the Flaxman-medal). The lion was changed with a Indian Tiger. All notes of India has this emblem.
		As a great symbol for coins and bills, however, the Ashoka pillar was chosen. Ashoka (273-232 BC) set up up to 85,000 stone steles with Buddhistic laws and Stupas. 4 lions sit on a round stone plate. The plate is bull, elephant, lion, horse and this decorates wire wheel, "wheel of the law". (Buddhistic wheel of the doctrine). The famous lion capital stands, of polished white sandstone at Sarnath. (today Madhya Pradesh) The Ashoka pillar or concrete the lion capital is permanent symbol on the front of all coins since the 1st version of 1947. Since 1980 the picture was completed by the saying "only the truth wins" in Devanagari from the old Mundaka Upanischaden.
The "Anna-Series" of the "Government Of India" 1950 – 1956
									The currency was copied with 1 Rupees by 16 Annas equivalently of the British monetary system . (192 Pies / 3 Pies = 1 Pice; 4 Pice = 1 Anna) The Ashoka column and the inscription "GOUVERNMENT OF INDIA" came place of the head of Georg this View wnow. The value was represented bilingually on the reverse. At the Nickel-Rupees-pices was with tow sheaves of grain (Quarter, Half and One Rupee), at the square “Quarter Anna” and “Two Annas” also the wavelike „One Anna“ (by Cooper-Nickel) was a hump bull and the “One Pice” (bronze) a Horse.
New Paisa Series 1957-1964
								Lasted for the endeavors for the decimalization of the currency already over a century. It was decided in September 1955 that the decimal system applied to the complete country effective April 1st, 1957. The rupee was subdivided into 100 'Paisa' instead of 16 Annas or 64 Pice. To the better identification the new name of the decimal Paise was “New Paise”. There was 1 Paisa of bronze, 2, 5, 10, 25 and 50-Paise piece made of copper nickel, now. The forms were designed different to the better reconnaissance. The 2 and 10 Paise with a wavy edge. Those of 5 Paise and later also those of 1 Paisa were square. Coins issued later like the 3 and 20 Paise pieces had a hexagonal form.
Paisa-Series since 1964 - Begin of the Aluminium-era
							The name "New Paisa" (Naya) was discontinued as of June 1st, 1964. In the name the value was used for it in words. Often experimented with use of other metals. The Paisa bronze pieces were partly already since 1962 replaced by nickel brass based alloys. The 10 Paise and new 20 Paise as an aluminium nickel bronze based alloy were also marked between 1968 and 1971. Still more cheaper aluminium was with the increasing of the prices into used the sixties. Started 1964 by the minting in a new, 6-cornered 3 Paisa coin made of aluminium. The 20 Paise made of aluminium hardly won at popularity.
Commemorative coin since 1964
				The first commemorative coin series was issued in memory of for the death Nehru in 1964. First as circulation coins. It was already the 2nd issue to the 100th birthday of Mahatma Gandhi with higher values in 1969 (10 Rupees). Almost every there were one or more commemorative coins issues in the context of the FAO-coining plan or in addition to tall events or politicians after this.
The firm parity opposite the British pound sterling was given up in 1975. The inflationary development of the rupee intensified within the next years. Cost use reflections on a longer period of time led end of 70s to the gradual attitude of 1, 2 and 3-Paisa coins at the beginning of the eighties. The Indian rupee lost half of its value opposite the “Deutsche Mark” in second half of the eighties. (4,56 Rs/DM in 1985/86 and 9,09 Rs/DM in 1989/90). The 5 Paise also were adjusted now.
First coins of foreign mints
Wrong planning of the demand of coins and low productivity of the Indian coining places (in the time 1981- 86, especially 1985/86) - for this reason orders had to be given for the currency minting at foreign companies. One thought for a while that the capacity of the 3 existing coining places suffices for the cover of the need. ( Mumbai, Kalkutta und Hyderabad) Considerable lots of coining brutes became a material protection for rupee, (South Korea) imports 50 and 25 Paise over Hyndai corporation from Seoul. These were divided up on all 3 coining places. In Hyderabad became the first rupees with this material minted 1984, further 1985 and 1986. These coins seem to have a sharp upright edge, lasting from Indian material marked coins have rounded edges. However, the import of coining brutes didn't suffice for the need cover of the rupees and 50 Paise. Due to this crisis Indian coins had to be ordered at foreign coining places. Plants for the construction of the typical safety edge at rupees only were found at the British mints and therefore went orders to 2 British mints to the strike of the rupee coins. Orders just went for 50 Paise to Seoul (South Korea) and 25 Paise to Ottawa (Canada). All these stamps are dated with "1985". All these coins meant for the general circulation were nickel made of copper. Within the further years they were marking abroad or coining brutes importing again and again but too.
Transition of nickel on steel
The used materials for the coins caused problems again and again. The coins wore off fast. Unscrupulous dealers hoarded and melt partial coins to extract high-quality metals. The value of the coining material (nickel, copper, aluminum) exceeded the face value, particularly the 25 and 50 Paise coins, soon. Therefore one decided in favor of a more economical stainless steel based alloy (than counterpart for the copper nickel based alloy). Although the production costs are substantially higher than at aluminum coins, the steel minting is favored since steel just can come from the country of its own and comes more favorably in the long run seen therefore in sufficing crowds. Has gone a new mint in Noida (nearby New Delhi) into business as of 1988 but the need for coins couldn't be met. Many machines in the coining stamping places were overhaul needy or old-fashioned. The quality of the coins was quite lousy for the sixties with the beginning of aluminium time already. Many deviations between the stamps don't let only coining collectors despair. With great efforts one tries the 4 mints to modernize. The coining place Noida was set up especially for the strike of steel coins. As of April 1988 10, 25 and 50 Paise were marked here. Coining brutes first imported, late of sources owned by the Land (e.g. under participation of companies like Krupp VDM Germany). Noida is the leading coining place for the general production of steel coins of the know-how up to the production of the coining stamps at the same time, too. Since some time for the rearrangement was, however, still needed, one gave additional orders to the "royal Canadian coin" in Ottawa for the production of 10, 25 and 50 steel Paise. These coins are with 1988 and have a "C" as coining signs under the date.
The new steel coins as of 1988 10 Paise Lion pillar, "Bharat"' & "INDIA" (today out of production) 25 Paise with a Indian horned rhinoceros (today out of production) 50 Paise Map of India, with the House of parliament 1 Rupee (since 1992 steel) The 2 and 5 Rupees are in Copper-Nickel In the end of 2005 will issue new 10 Rupees bimetal. However, the steel time hasn't gained acceptance completely yet. 25 and 50 Paise minted of copper nickel parallel to the steel coins for the circulation to 1990. 10 Paise even still minted to 1993 of aluminum. The almost valueless 5-Paise pieces made of aluminium even still were minted in 1994. For several years the same coins circulated officially different forms and materials besides each other with that. By the devaluation of the Indian rupee in June 1991 and the consistent price increase of copper and nickel one was too at least forced the production of the rupee discontinued definitely of copper nickel. As of 1992 there were steel rupees only (first with riffle edg, later 1996 with a smooth edge). The new rupee coin from stainless steel got together at chrome (18%) and iron (82%). Diameter of 25 mm and a lower weight of 4,85 gram. Also 1996-98 was more highly than the production the demand for coins again. For the third time an order had to be given for the coining mint abroad. This time to Mexico 1,000 million 1 Rupees steel coins, 1997 minted and in anuary1998 extradited. Due to the increasing commodity prices a similar order was also given for the 2 rupee pieces to Mexico. These pieces also were made of steel and dated with 1997, extradited to India in march 1998. They were identically the 2 rupee piece also still circulating of the form and appearance (National integration copper-nickel) . 1 rupee pieces were minted in 1997 and in 1998 also in Kremnica (Slovakia -- the oldest mint in Central Europe). Orders for 2 rupee coins went to soul (South Korea 1997-1998) and Pretoria (South Africa 1998). In South Africa e.g. 1998 150 million 2 rupee coins were produced, one wanted to reach the same quantity also for 1999. 1 and 5 rupee pieces were minted in Moscow.
So rupee as a coin developed for you from the original of the Arkat rupee (1807-11), King William IV (1853 & 1 840) and queen Victoria (1 840) to today's type:
	Year	Metal	Diameter			alloy				Weight in gram
	1862	Silver	30.6 mm			91.6% Silver				11.6
	1922	Silver	30.6 mm			91.6% Silver				11.6
	1939	Silver	30.6 mm			91.6% Silver				11.6
	1940	"Quaternary" alloy	30.6 mm			50% Silver, 40% copper, 5% nickel, 5% zinc				11.6
	1947	Nickel	30,2			100% Nickel				11,6
	1950	Nickel	30,2			100% Nickel				11,6
	1962	Nickel	28,0			100% Nickel				10,0
	1975	Copper-Nickel	28,0			75% Copper, 25% Nickel				8,0
	1983	Copper-Nickel	26,0			75% Copper, 25% Nickel				6,0
	1992	(Ferrite stainless steel) stole	25,0			80.5% iron, 18% chrome, 1.5%, among others magnesium, nickel				4,85

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