Coins

 Introduction to Coins

A Coin is a piece of flat metal which is used as form of Money. Coin has two faces widely known as Head and Tail. Coin has standard size, weight and identification mark by issuing Authority. It is a legal tender which means a medium of payment allowed by law or recognized by the Government.

 

Obverse: This side is called Head it is usually emblem and Country Name is mentioned in obverse in definitive series. But In Commemorative Series emblem, country name and denomination is included.

Reverse: This side is called Tail. In Definitive series denomination, year, Mint mark below the year. In Commemorative series Portraits of leader, events of the country.

Date: Coin date is represent the Minting of year.

Shape: In general all coins are in Circular shape, but few come in odd shapes Like, Square, Scalloped Circular, Scalloped Octagon, and Hexagonal.

 

Edges: edge is a border of the coin there are different edges to avoid the forging coins. There are Reeded Edge, Plain Edge, and Security Edge.

 

 Rim: rim is the part of the coin edge on both sides Rim is protecting the coins from wear and tear there are different types of rims used Plain raised Rim, Toothed Rim, thin Plain Rim and Thick plain Rim.

Size: Coins are in various sizes from 0.75grams to 22.5 grams.

Mint Mark: coins are minted in different places in the country to verify the coins are minted. A small mark is specified by the mint in the coin below the year.

Metal: value of the coin is specified by the face value of metal to make coin minting is not profitable to create fake forged coins are minted in single metal or combination of two metals. Bellow mentioned metals are used to make a coin Copper, Bronze, Cooper Nickel, Bickel Brass, Nickel, Aluminium, and Stainless Steel

Republic Indian Coins: After India independence in 15-August-1947.The first coinage of republic India in place of King’s portrait Lion Capital of the Ashoka Piller is replaced in15 august 1950. The monetary system was largely retained unchanged with One rupee consisting of 16 Annas.

1 Rupees =16 Annas ,1 Anna =4 Pice ,1 Pice=3 Pies

After 1957 the monetary system is converting to Decimalization. In September 1955 Indian coinage act was established for country to adopt a metric system coinage. only rupee was unchanged in the value rupee was divided in to 100 paisa instead of 16 Annas and ‘Naya Paisa’ is introduced, in the year 1964  term ‘Naya’ was dropped from all the coins.

Circulating Coins: Circulating coins are the coins that the Indian Mint produces for every day transaction. Circulating coins are included in the Indian Mint, Year, Mint Marks coin sets.

Un-Circulating Coins: A Coin that is released to the Public but not intended for general circulation. But is available through a mint or local coin dealers. Most uncirculated coins made of Silver, Cooper Nickel, Stainless Steel or Nickel Brass.

Prof Coins: Prof Coins are very special work of art struck with highly polished dies that are prepared carefully prior to striking. Every PROF coins struck at least twice. The second Strike depends the relief and gives the coin more definition.