Coins of the Indian rupee (₹) were first minted in 1950. New coins have been produced annually since then and they make up a valuable aspect of the Indian currency system. Today, circulating coins exist in denominations of 1, 2, 5, 10, and 20 Indian rupees. All of these are produced by four mints located across India, in Kolkata, Mumbai, Hyderabad, and Noida.
History After Indian independence in 1947, British Indian coins were in use as a frozen currency until the dominion of India became a republic in 1950. The first rupee coins of the Republic of India were minted in 1950. These included ₹1/2, ₹1/4, 2 anna, 1 anna, 1/2 anna & 1 pice coins, and are referred to as the anna series or pre-decimal coinage. Under the anna series, one rupee was divided into 16 annas or 64 pice, with each anna equal to 4 pice.
In 1957, India shifted to the decimal system, though for a short period of time, both decimal and non-decimal coins were in circulation. To distinguish between the two versions of pice coins in circulation (pre-decimal and decimal), the coins minted between 1957 and 1964 were printed with the legend “Naya Paisa” (“New Paisa”). The denominations in circulation were 1, 2, 3, 5, 10, 20, 25, 50 (naya) paisa and one rupee. Since rupees retained their pre-decimal value, pre-decimal coins of one, half and quarter rupees remained in circulation after decimalisation. With effect from 30 September 1968, all anna coins and British Indian (pre-decimalisation) rupee coins minted in quaternary alloy (1/2 silver composition) were officially demonetised, though pre-decimalisation rupee coins minted in pure nickel, including British Indian issues from June 1946 onwards, continued to be legal tender.
The word "naya" was dropped in 1964 and a new denomination, the 3 paisa, was introduced into circulation. A 20 paisa coin was minted in 1968. Neither of these coins gained much popularity. The 1, 2 and 3 paisa coins were phased out gradually in the 1970s. In 1982, a new 2 rupee coin was introduced experimentally to replace 2 rupee notes. The 2 rupee coin was not minted again till 1990, after which it was minted every following year.
Stainless steel coinage of 10, 25 and 50 paisa was introduced in 1988. 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.
On 30 June 2011, all coins in denominations of 25 paisa and below were officially demonetised.
Commemorative coins in circulation can be found in various denominations. They depict various special events or people, including Mahatma Gandhi, Jawaharlal Nehru, Indira Gandhi, B. R. Ambedkar, Rajiv Gandhi, Dnyaneshwar, the 1982 Asian Games, Vallabhbhai Patel, Subhas Chandra Bose, Sri Aurobindo, Chittaranjan Das, the 2010 Commonwealth Games, Shivaji, Bhagat Singh, Rabindranath Tagore, Atal Bihari Vajpayee, Jallianwala Bagh massacre, Bal Gangadhar Tilak etc.
Coin series: 1947–1957 (pre-decimalisation) At Independence on 15 August 1947, India was partitioned into the new Dominion of India and Dominion of Pakistan. The lowest-denomination Indian coins, the half-pice (128 to a rupee) and the pie (192 to a rupee) were officially withdrawn from circulation in 1947, new examples were not minted after 1942 due to their very low value (India remained a member of the sterling area after independence and the rupee remained pegged to the pound sterling. Until 1966, the rupee was worth 1s.6d, or 18 old British pence; a half-pice was therefore worth 0.141 old pence and a pie 0.09 old pence.)Schedule of Par Values, Currencies of Metropolitan Areas, The Statesman's Year Book 1947, pg xxiii, Macmillan & Co. All half-pice and pie coins were demonetised from 1 January 1959.
The remaining British India-period and early Republic of India coins mostly continued to circulate until decimalisation in 1957, after which they were progressively demonetised through 1968, excepting the nickel rupee, half-rupee and quarter-rupee issues, including the pre-Independence George VI issues. Nickel-brass anna and half-annas were demonetised from 1 January 1960, followed by cupro-nickel half-anna and two-anna coins from 1 October 1960. 1-pice and British Indian 2-pice coins were demonetised from 1 January 1964, along with cupro-nickel 1-anna coins. All George VI rupee denominations were demonetised from 31 December 1984.
Union of India 1947–1950 The new Dominion (or Union) of India retained the previous imperial currency with the portrait of King George VI. The basic unit of currency was the Indian rupee, which was itself divided into annas (16 annas to a rupee) and pice (the old spelling of paisa – 64 pice to a rupee).India – Currency, Weights and Measures, The Statesman's Year Book 1947, pg 133, Macmillan & Co. At Independence on 15 August 1947, the Indian coinage structure was as follows:
₹ and its fractionsAnnasPicePies ₹16 annas64 pice192 piesHalf ₹8 annas32 pice96 piesQuarter ₹4 annas16 pice48 pies1/8 ₹2 annas8 pice24 pies1/16 ₹1 anna4 pice12 pies1/32 ₹Half anna2 pice6 pies1/64 ₹1/4 anna1 pice3 pies1/128 ₹1/8 anna1/2 pice1 1/2 pies1/192 ₹1/16 anna1/4 picePie
(bold - denominations minted by the Government of India)
This represented the currency arrangements during the transition period up to the establishment of the Republic of India, as follows:
+George VI series DenominationImageSingle/ Bi-metallicMetalShapeDiameterMinted in YearsDemonetisedObverseReverseOne RupeeSinglemetallicNickelCircular28 mm194731 December 1984Half Rupee24 mm1946 - 194731 December 1984Quarter Rupee19 mm1946 - 194731 December 19842 AnnasCopper - NickelSquare25 mm1 October 19601 AnnaNickel - Brass12 Scalloped21 mm19451 January 1960Copper - Nickel21.1 mm1946 - 19471 January 19641/2 AnnaNickel - BrassSquare19.8 mm1942 - 19451 January 1960Copper - Nickel19.7 mm1946 - 19471 October 19601 PiceBronzeCircular with a hole21.32 mm1943 - 19471 January 1964
Republic of India 1950-1957
On 26 January 1950, India became an independent republic in the Commonwealth of Nations. This series was introduced on 15 August 1950 and represented the first coinage of Republic of India. The British 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 previous monetary system and the old units of currency were retained unchanged.
+ Republic of India Pre-decimalization series (1950 - 1957) Denomination Image Single/ Bi-metallicMetal ShapeDiameterMinted in YearsDemonetisedObverseReverse One RupeeSinglemetallicNickelCircular27.9 mm1950 - 1954 Half Rupee 24 mm1950 - 1956 Quarter Rupee19 mm Two Annas Cupro-NickelSquare25.4 mm1950 - 19551 October 1960 One Anna 12 Scalloped21 mm1950 - 19541 January 1964 Half Anna Square19.5 mm1950 - 19551 October 1960 One PiceBronzeCircular21 mm1 January 1964
Decimalization The move towards decimalization 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, after which anna and pice denominations were progressively demonetised.
The rupee remained unchanged in value and nomenclature. It, however, was now divided into 100 'paisa' instead of 16 annas or 64 pice. Effective from 30 June 2011, all coins in denominations of 25 paisa and below were officially demonetized.Krause, Chester. Mishler, Clifford. "India-Republic," 2005 Standard Catalog of World Coins 1901-present, 32nd edition. Krause Publications. Iola, WI
Pre-decimal currency (1950-1957; minting ceased in 1955)Decimal currency replacement (1957–present)Decimal currency (dates minted)N/A20 rupees2019–presentN/A10 rupees 2005–presentN/A5 rupees 1992–presentN/A2 rupees 1982–presentRupee1 rupee (divided into 100 new paise 1957–1964; divided into 100 paisa 1964–present). 1962–presentHalf rupee50 paise 1957–2016Quarter rupee25 paise 1957-2002. Demonetised from 2011.N/A20 paise1968-1994. Demonetised from 2011.2 annas10 paise1957-1998. Demonetised from 2011.Anna5 paise 1957-1994. Demonetized from 2011.N/A3 paise 1964-1972; proofs minted until 1981. Demonetized from 2011.Half anna2 paise 1957-1979; proofs minted until 1981. Demonetized from 2011.Pice1 paisa1957-1972; proofs minted until 1981. Demonetized from 2011, but retained as a unit of currency.
Coin series 1957–present (decimal)
Naya Paisa series 1957–1963
The antiquated spelling of "pice" was modified to "paisa" in the singular and "paise" in the plural. For public recognition, the new decimal paisa was termed 'Naya Paisa' (New Paisa) till 1 June 1964 when the term 'Naya' was dropped. The coins of 1p, 2p, 5p, 10p, 25p, and 50p had a legend in Devanagari script explaining the value of coin in terms of fraction of a rupee.
+Naya Paisa Series (1957–1963) Denomination ImageSingle/ Bi-metallicMetalShapeDiameterMinted in YearObverseReverseOne rupeeSinglemetallicNickelCircular28 mm1962 - 1974 50 naye paise 24 mm1957 - 1963 25 naye paise 18.7 mm 10 naye paise Cupro-NickelEight Scalloped23 mm (across scallops) 5 naye paise Square22 mm (across corners) 2 naye paiseEight Scalloped18 mm (across scallops) 1 naya paisa BronzeCircular16 mm1957 - 1962Nickel Brass1962 - 1963
Paisa Series I with Devanagari Legend 1964 onwards
In June 1964, the term 'Naya' was dropped and the coins were as follows reminted. The legend in Devanagari script explaining the value of coin in terms of fraction of a rupee continued till it was finally dropped from the new design minted 1964 onwards. +Paisa Series I with Devanagari Legend (1964–1980s) Denomination ImageSingle/ Bi-metallicMetalShapeDiameterMinted in YearObverseReverse50p SinglemetallicNickelCircular24 mm1964 - 197125p Nickel19 mm1964 - 197210pCopper Nickel8 Scalloped23 mm1964 - 1967Nickel Brass1968 - 19715pCopper NickelSquare22 mm1964 - 1966Aluminium1967 - 19712p Copper Nickel8 Scalloped18 mm19641p AluminiumSquare16 mm
Series II without the Devanagari Legend (1965–1983)
The coin minted from 1965 did not have the legend in Devanagari, explaining the value of the coin as a fraction of the rupee. Small-denomination coins which were formerly made of bronze, nickel-brass, cupro-nickel and aluminium-bronze were gradually minted in aluminium. The first coin minted in such type was the 3 paisa coin in 1964, which was a new denomination, and continued to be minted till 1971. One and Two paisa coins were changed to aluminium and were minted without the Devanagari legend from 1965. 20 paisa coin was introduced in 1968, which continued to be minted till 1971.
DenominationImageSingle/ Bi-metallicMetalShapeDiameterMinted in YearObverseReverse50pSinglemetallicAluminium25p20p10p5p3pHexagonal21 mm1964 - 19712p1p
Series III 1982 Onwards
From 1982, New series was launched. the 20 paisa coin which was last minted in 1971, was reintroduced again, but in Aluminium. The size and the design of 10 paisa, 50 paisa and 1 rupee was changed, though they continued to be minted in the same metal. Coins of 3p, 2p and 1p were discontinued but continued to be the legal tender.
DenominationImageSingle/ Bi-metallicMetalShapeDiameterMinted in YearObverseReverse₹1SinglemetallicCopper-NickelCircular26 mm1983 - 199150p 24 mm1984 - 199020p AluminiumHexagonal26 mm1982 - 199710p 8 Scalloped23 mm1983 - 19935p Square22 mm1984 - 1994
Series IV 1988 Onwards