After the Independence of India in 1947, one of the major challenges that stood in front of the policymakers was the coinage system. Till the introduction of the new coinage system, India was still using British India coins that were made of silver, nickel, copper and bronze. The coins had the portrait of then reigning British King George Vl (1936-1952) and the opposite side bore the image of the British Monarch, accompanied by the text “King emperor”. At the time of independence until the new coinage was adopted, India held on to the monetary system and currency of British India. Princely states of India issued their own coinage in their kingdoms. The Government of India introduced fresh coins in 1950 that replicated the Identity of India and left behind an unmatched legacy that continues to inspire the nation. As a Numismatic, one of the key concerns arises while collecting is the authenticity of these coins. Sikkaji is the platform to find rare old coins and expand your collection of these precious pieces that are carriers of historical significance.
On 15 August 1950, the first republic coin were introduced, known as the Anna Series. These coins officially replaced British coins and became the first coin issue of Independent India. In the previous administration, the system was non-decimal i.e 1 Rupee was equivalent to 16 Annas, 64 pice or 192 Pies. The exact system was retained with the new coinage system as well but the designs were altered.
India’s National Emblem, the lion capital of ashoka ( Ashokstambh) was presented on the coin and the opposite sides often depicted the elements of India’s agrarian economy, which was the backbone of the country. It honoured farmers who worked relentlessly. The denominations were 1 pice, ½ anna, 1 anna, 2 annas, ¼ rupee, ½ rupee. Minted in various metals like Nickel,Cupronickel and bronze. Sikkaji has antique coins for sale that are opulent and invaluable.
In 1957, Independent India adopted the decimal system of coinage. The New system was implemented to de-complexify the anna system. As per the system, a rupee was divided into 100 equal units called paise and resonated with the need to match with global standards. These Coins were issued under the name “Naya paisa” and the denominations were as follows:-
Around 1964, the word naya was skipped and only paise was used while referring. The Decimalisation of the system led to easier trade and also uncomplicated the daily transactions. It helped common citizens to understand the system and conduct themselves accordingly.
After the introduction of Naya System, the coinage of India evolved gradually with the issuing of new materials and designs. The increased production cost of these coins led to changes in composition. Aluminium coins for 1,2,3,5, and 10 paise and cupro-nickel for higher denominations like 25, 50 Paise and 1 Rupee. Rare mint marks on indian coins could be found below the year.
The shape of coins were changed as well, and were issued in hexagonal, square and circular for easy identification by touch. In 1980, Coins made of stainless steel were introduced in the denominations of 10, 25, 50 and 1 rupee, they were durable and came with low cost production. Aluminium was outdated due to high cost in the times of inflation.The period from 1960s to 1980s saw a series of coin releases from commemoratives to promote the culture and history.
In the 90s, coins of 2 and 5 rupees were introduced, they were made of cupro-nickel and later issued in stainless steel and bimetallic alloys. By the 2000s the 25 paise coin was withdrawn from the market leaving 50 paisa coin as the lowest denomination in the system. In the later decades steps were taken to ensure that all the coins were made of pure metals after their speculations of the spread of fake coins.
The obverse side of the coins retained the lion capital of ashoka and the opposite side featured agricultural economy, technological advancements and National unity. The smaller denominations like 1 paise 2 paise 3 paise, old indian coins value started disappearing from the market due to high inflation. Currently, 1, 2 5 10 and 20 rupee coins are in the chain.
Coins are not just the medium of exchange but also the carrier of history and legacy. They are the instruments by which we measure our progress as a nation. Republic of India Coins are precious and hold historical value. These coins preserve history in them, India’s economic progress and depict periods in Indian history. They are a king's ransom and some of them are demonetized making them high in numismatic value. Collecting these coins will not only expand your collection but also make you think about the continuous changes the Indian subcontinent has undergone over the centuries.
Sikkaji offers a wide range of coins from different historical eras that can be purchased online. These rare indian coins are sold by numismatics just like you, who have deep interest in coinage and history. These intangible pieces are not just made of materials, they were made by people who had fire in their soul to reclaim their sovereignty from the colonizers. Owning these coins are always a matter of pride and makes you respect the land you live in.
The Indian Subcontinent was the most invaded nation in the world, despite these continuous changes in the politics and each ruler from different territories across the continent introducing a new form of coinage system, its people held on to the ancestral values and strived to form a nation which is safe heaven. These valuable coins of India are a testimony of resilience.
