On 30 June 2011, all coins in denominations of 25 paisa and below were officially demonetised. Higher denomination coins were introduced due to an increasing demand for change and the increasing cost of printing 2, 5 and 10 rupee banknotes. In 2005, the 10 rupee coin was minted for the first time. In 1992, a new stainless steel rupee coin, smaller and lighter than the older rupee, was minted, alongside a 5 rupee Cupronickel coin. Stainless steel coinage of 10, 25 and 50 paisa was introduced in 1988. The 2 rupee coin was not minted again till 1990, after which it was minted every following year. In 1982, a new 2 rupee coin was introduced experimentally to replace 2 rupee notes. The 1, 2 and 3 paisa coins were phased out gradually in the 1970s. Neither of these coins gained much popularity. The word "naya" was dropped in 1964 and a new denomination, the 3 paisa, was introduced into circulation. Since rupees retained their pre-decimal value, pre-decimal coins of one, half and quarter rupees remained in circulation after decimalisation. The denominations in circulation were 1, 2, 3, 5, 10, 20, 25, 50 (naya) paisa and one rupee.
To distinguish between the two pice coins in circulation, the coins minted between 19 were printed with the legend “Naya Paisa” (“New Paisa”). In 1957, India shifted to the decimal system, though for a short period of time, both decimal and non-decimal coins were in circulation. Under the anna series, one rupee was divided into 16 annas or 64 pice, with each anna equal to 4 pice.
#RUPEE INDIAN FONT SERIES#
These included 1/2 rupee, 1/4 rupee, 2 anna, 1 anna, 1/2 anna & 1 pice coins, and are referred to as the anna series or pre-decimal coinage. The first rupee coins of the Republic of India were minted in 1950. 6.1 Controversy over 2006 two-rupee coinĪfter Indian independence, British Indian coins were in use as a frozen currency until India became a republic in 1950.
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