FACT OF INDIAN COINS

 

FACTS OF INDIAN COINS

Coins of the Indian rupee (INR) were first minted in 1950. In India, the Finance Ministry is responsible for the minting of coins and printing of one rupee notes.

The India Government Mint operates four mints in the country for the production of coins:

Currently,we are using One Rupee, Two Rupees, Five Rupees, Ten Rupees and Twenty Rupees







Do you think why government of India reducing the size coins?

See this one rupee coin. First one was introduced in 2001 and second in 2012.





 

Every coin has two values One is called the "Face Value" of the coin and the second value is its "Metallic Value".

Face Value of Coin:

It means that "amount written on the coin”. See the above picture, If 1 rupee is written on any coin, it would be called its face value.

Metallic value of coin: 

It means that, the monetary value of the metal used in the formation of the coin. If a coin is melted and its metal is sold in the market in 2 rupees then 2 rupees would be called the metallic value of the coin.

For example, If a person have a coin of  Rs.1, and he plan to melts that coin and going to sell that metal in the market for Rs.2, then he will get the profit of Rs.1. So If all the peoples started to do this process then all the coin will vanish from the market

For this reason why the government tries that the metallic value of any coin should remain less than its face value so that people do not get encourage to melt the coin.

How will you find the mint place of coins?

 

FEATURES OF THE COINS

Re 1 coin

1.The new Re 1 coin weighs 3.09 grams.

2.In circular shape of 20 mm diameter.

3.It will be made out of Ferritic stainless steel, containing 83 percent iron and 17 percent chromium.

Rs 2 coin

1.The new Rs 2 coin weighs 4.07 grams.

2.It is in shape of a circle with a diameter of 23 mm.

3.It will be made of Ferritic stainless steel, containing 83 percent iron and 17 percent chromium.

Rs 5 coin

1.The new Rs 5 coin weighs 6.74 grams.

2.It is in shape of a circle with a diameter of 25 mm.

3.It will be made of nickel brass alloy and its constituents will be 75 percent copper, 20 percent zinc and 5 percent nickel.

Rs 10 coin

1.The new Rs 10 coin weighs 7.74 grams.

2.It will have a diameter of 27 mm.

3.The Rs 10 coins have two rings. The outer ring will be made of nickel brass with 75 per cent copper, 20 per cent zinc and 5 per cent nickel. The inner ring will be made of nickel silver, which will contain 65 per cent copper, 15 per cent zinc and 20 per cent nickel.

Rs 20 coin

1.The new Rs 20 coin weighs 8.54 grams.

2.It will be in the shape of a 12-edge polygon and have an outer diameter of 27mm.

3.The outer ring will be made of nickel silver with 65 per cent copper, 15 per cent zinc and 20 per cent nickel and the inner ring will be of nickel brass, containing 75 per cent copper, 20 per cent zinc and 5 per cent nickel.

 




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