Eternal India Encyclopedia

Eternal India encyclopedia

COINS

Rupee, Annas, pice to Rupees and Naye paise in decimal system. The rupee retained its original value but instead of being divided into 64 pice it was divided into 100 paise (paisa in singular). During the transitional period when both the old and new coins remained in circulation the new coins were known as naye paise to distinguish them from the old pice. They continued till 1st June 1964 when the word naye was dropped and only paise retained. The first commemorative coins were issued in the year 1964.

coins in gold which were known as pagodas. The rule of the French came to an end in 1745 A.D.

THE BRITISH INDIA COINAGE

The British East India Company which established its initial set-

tlement at Surat slowly built up its position from strength to strength. It issued coinage in the name of the Mughals (Fig-16) at various places in our country after obtain- ing the right to mint coins from princely states. In 1765 Mughal Emperor Shah Alam gave the company possessions in Bengal, Bihar and several other places in the country and made the company responsible and reportable only to him. The Company formed itself into three Presidencies known as the Bengal Presidency, Bombay Presidency and Madras Presi- dency. These Presidencies issued

Fig-16 Obverse

Thereafter the Government of India has been issuing coins for collectors in proof and uncirculated special packs of the denomination of Rs. 5,10,20,50, and 100 in both silver and copper- nickel varieties. These coins are issued on the anniversary of the Quit India Movement. In 1965, two-paisa aluminium-magnesium coins and also five paisa coins were issued. To commemorate the birth centenary of Mahatma Gandhi, coins of denominations of ten rupees, fifty paise and twenty paise were issued on 2nd October 1969.A twenty paise coin was issued in 1970 on the silver jubilee of the Food and Agriculture Organisation of the United Nations. On the 25th anniversary of India's Independence, two coins were issued of the denomination of the rupee and fifty paise in 1972. In 1973 the "Development oriented, 1973" coins were issued. In 1974 coins of the denominations of 50 and 10 rupees and 10 paise were brought out. In 1975 "Equality, Development, Peace" coins were brought into circulation. Subsequently, "Food and Work for All" (1976), "Save for Development" (1977), "Food and Shelter for All" (1978) were issued. A 50 rupee coin was issued under the title "Happy Child-Nation's Pride" for the International Year of the Child in 1979. In 1980 a silver 100 rupee coin under the title "The Rural Women's Advancement" was released. A silver 100 rupee coin was released under the title 'World Food Day'. In 1982 IX Asian Games coin of denomination of 1 rupee was released. In 1984 (Youth Year) a one rupee coin was issued. In 1985, a copper nickel coin of denomination Rs. 5 was issued in honour of Mrs. Indira Gandhi the late Prime Minister of India. Another copper nickel coin of denomination Re. 1 was issued in 1985 commemorating International Youth Year. Copper nickel coins were issued in 1987, 88 and 89 of denomination Re. 1, Re. l and Rs. 5 in honour of "Small Farmers", "Jawaharlal Nehru" and "Food and Environment" respectively. In 1990, 1991 and 1992 copper coins (Re. 1, Rs. 2 and Re. 1 respectively) were brought out depicting the theme of "Care for Girl Child National Integration", the "Indian Tourism Year" and "Food and Nutrition". In 1992-93 three coins, of denomination Re. 1, Rs. 5 and Rs. 2 respectively, the first made of ferretic stainless steel, the last two made of cupro nickel alloy were issued. Their weights were 4.85 gm, 9 gm and 7 gm and diameters 25 mm, 23 mm and 26 mm respectively. ( K . K . S . )

Reverse

coins upto the year 1835 when India was declared a colony of Brit- ain and coins were issued bearing the portrait of the British Mon- arch King William IV on the coins. In 1840, however the portrait of Queen Victoria was issued on coins in copper, silver and gold. In 1858, Queen Victoria assumed authority over the Government of India and the rule of the East India Company came to an end. In 1862, a new series of coins of all denominations and all the three metals were issued with changed devices. Now they had the bust of the queen wearing an imperial crown and a richly embroi- dered robe with Victoria to the left and queen to the right. The re - verse followed the earlier pattern. These coins continued to be minted till .1872 or 1874. They were issued from the mints at Bombay, Calcutta and Madras.

In 1877 Queen Victoria assumed the title of Empress of India and coins (Fig- 17) bearing the new title were issued. While retaining the general design used for the coins, the word Queen was substi- tuted with the word Empress on the ob- verse. The coinage of British India had coins of Edward V, King George V and King George VI, till Independence in 1947.

COINS OF FREE INDIA In 1943, to meet the shortage of copper, a new holed thin pice was issued, which had a flowered design on the one side and the other side had the crown and the date along with the value in English, Nagari and Persian and the word INDIA. All these coins were issued till 1947. Even though India got Independence in 1947 no new coins were issued and only on 15th August 1950 a new series of coins came into circulation, (fig. 18) Ashoka pillar, the symbol of non-violence and peace, was adopted. This series of coinage continued till the metric system was introduced on April 1, 1957, when new coins were issued upon change of currency from