Modern Indian coins
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The pictures of the coins and paper currencies can be found at Reserve Bank of India Coinage Museum and Reserve Bank of India Paper Money.
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, and each anna was 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, 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 paise and 1 rupee. See below #Indian coins.
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.
India issues several types of coins. Commemorative coins in various denominations have been issued, including those celebrating Mahatma Gandhi, Jawaharlal Nehru, Indira Gandhi, B. R. Ambedkar, Rajiv Gandhi, Dnyaneshwar, 1982-Asian Games, Sardar Vallabhbhai Patel, Subhash Chandra Bose, Sri Aurobindo, Chittaranjan Das, and Chhatrapati Shivaji.
The denominations in circulation currently are 25 and 50 paise and 1, 2 and 5 rupee coins.
| Denomination | Period | Comments |
|---|---|---|
| Pice | 1950-1955 | Pre Decimal |
| Half Anna | 1950-1955 | Pre Decimal |
| Anna | 1950-1955 | Pre Decimal |
| 2 Annas | 1950-1955 | Pre Decimal |
| 1/4 Rupee | 1950-1956 | Pre Decimal |
| 1/2 Rupee | 1950-1956 | Pre Decimal |
| Rupee | 1950-1954 | Pre Decimal |
| Naya Paisa | 1957-1963 | |
| Paisa | 1964-1981 | |
| 2 Naye Paise | 1957-1963 | |
| 2 Paise | 1964-1981 | |
| 3 Paise | 1964-1981 | |
| 5 Naye Paise | 1959-1963 | |
| 5 Paise | 1964-1994 | |
| 10 Naye Paise | 1957-1963 | |
| 10 Paise | 1964-1998 | |
| 20 Paise | 1968-1994 | |
| 25 Naye Paise | 1957-1963 | |
| 25 Paise | 1964- | |
| 50 Naye Paise | 1960-1963 | |
| 50 Paise | 1964- | |
| Rupee | 1962- | |
| 2 Rupees | 1982- | |
| 5 Rupees | 1985- | |
| 10 Rupees | 1969- | |
| 20 Rupees | 1973-1989 | |
| 50 rupees | 1974- | |
| 100 Rupees | 1980- |
[edit] Indian coins
Republic of India Coins: 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. Following image of Ashok-Stambha (Ashoka's Pillar) is a motif on all Republic of India coins. 
The coins of India post-independence could broadly be categorised as
The Frozen Series 1947-1950 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
The Anna Series 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.
| Denomination | Metal | Obverse | Reverse |
|---|---|---|---|
| Rupee One | Nickel | ||
| Half Rupee | Nickel | ||
| Quarter Rupee | Nickel | ||
| Two Anna | Cupro-Nickel | ||
| One Anna | Cupro-Nickel | Image:OneAnnaO1950.jpg | Image:OneAnnaR1950.jpg |
| Half Anna | Cupro-Nickel | ||
| One Pice | Bronze |
The 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 1957-1964
| Denomination | Metal | Weight | Shape | Size | Image |
|---|---|---|---|---|---|
| Rupee One | 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 | Image:OneNPNS.jpg |
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 |
|---|---|---|---|---|---|
| Twenty Paise | Aluminium-Magnesium | 2.2 g | Hexagonal | 24.5 mm (across flats) | |
| Ten Paise | Aluminium-Magnesium | 2.3 g | Scalloped | 26 mm (across scallops) | |
| Five Paise | Aluminium-Magnesium | 1.5 g | Square | 22 mm (Diagonal) | |
| Three Paise | Aluminium-Magnesium | 1.25 g | Hexagonal | 21 mm (Diagonal) | |
| Two Paise | Aluminium-Magnesium | 1 g | Scalloped | 20 mm (across scallops) | |
| One Paisa | Aluminium-Magnesium | 0.75 g | Square | 17 mm (Diagonal) | Image:OneAS.jpg |
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.
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 |
