390 / 822
COINS
Eternal India
encyclopedia
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
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
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.
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
.
)
Fig-16 Obverse
Reverse