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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.
A corn sheaf replaced the tiger on the one rupee coin. The monetary system was retained with one rupee consisting of 16 Annas. The 1955 Indian Coinage (Amendment) Act, that came into force with effect from 1 April 1957, introduced a "Decimal series". The rupee was now divided into 100 'Paisa' instead of 16 Annas or 64 Pice.
Five-rupee coins, made from brass, are being minted by the Reserve Bank of India (RBI). In 1997 the 20 paise coin was discontinued, followed by the 10 paise coin in 1998, and the 25 paise in 2002. Between 2005 and 2008 new, lighter fifty-paise, one-, two-, and five-rupee coins were introduced, made from ferritic stainless steel.
Besides minting coins, the mints at Mumbai, Kolkata and Hyderabad also make coin blanks. Hyderabad, Mumbai and Kolkata mints have gold assaying facilities and the Mumbai mint produces standardized weights and measures. Mumbai Mint has a state-of-the-art gold refining facility up to 999.9.
Iltutmish established the jital as a billon coin containing 3.90 grains or 2 rattis of silver. The tanka was one tola , then 96 grains of silver, which, divided by 2, was made up of 48 jitals. Balban 's billon tankas contained 4.5 grains of silver and were worth two jitals.
Currently in India (from 2010 onwards), the 50 paise coin (half a rupee) is the lowest valued legal tender coin. Coins of 1, 2, 5, and 10 rupees and banknotes of 5, 10, 20, 50, 100, 200, 500, and 2000 rupees are commonly in use for cash transaction.
[1] [5] The first rupee (Urdu: رپيا; rupayā), minted by Sher Shah Suri (1540–45), had a mass of 178 troy grains, or about 1% less than the British tola. [6] The British East India Company issued a silver rupee coin of 180 troy grains, and this became the practical standard mass for the tola well into the 20th century. [7] A set of tolas
Cast copper coins along with punch marked coins are the earliest examples of coinage in India, archaeologist G. R. Sharma based on his analysis from Kausambi dates them to pre Punched Marked Coins (PMC) era between 855 and 815 BC on the basis of obtaining them from pre NBPW period, [45] while some date it to 500 BC and some date them to pre ...
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