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The Journey Of Indian Coins From 1757 To 2011?
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The Journey Of Indian Coins From 1757 To 2011?

By on January 21, 2018

The Journey Of Indian Coins From 1757 To 2011?


Today we will discuss the history of coins. On 19th August 1757, the British East India Company made the first coin of 1 Rupees in Kolkata. The first coin manufactured by the East India Company was used in the Bengal province of Mughal.  The East India Company’s empire was established in India only after the Battle of Plassey in 1757. At that time earning rights were given to the company in Bihar and Bengal. The coin was created after a long time in India. The first coin was molded in the year 1950 after independence in India. India became independent in 1947, but British coins were used until the year 1950. At that time 1 rupee was equal to 16 annas or 64 paise. 1 Anna was equal to 4 paise. In 1957, India started the molding of coins under the decimal system. But for some time there was a trend of both decimal and non-decimal coins in the country. For a short time, there was the trend of Anna system in India. Under this system, 1 anna, 2 anna, and half anna coins were used. The half paisa coin (smallest value of rupees) was officially closed in 1947. 1 paise, 2 paise, 5 paise, 10 paise, 25 paise and 50 paise coins were issued which lasted long in the country. Coin of 1 paisa was in circulation from 1957 to 1972. In 2011 these coins were banned. From 1964 to 1972, the coin of 3 paise was molded. From 1957 to 1994, the coin of 5 paise was molded. These two coins were banned in 2011. 1 rupee coin was introduced in the year 1962. It is still used today. 2 rupees, 5 rupees, and 10 rupees coins are still used in the transactions. In 1982 coin of 2 rupees and in 1992, a coin of 5 rupees was used.


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