New coins were issued in
independent India in 1950. The coins followed the earlier Indo-English coins in
respect of their value, weight, metal and fabric. Gradually the designs and
patterns of the coins changed significantly to eliminate the vestiges of foreign
domination. The new designs were introduced which incorporated the symbols
representing India's past glory and the hopes and aspirations for the future.
Thus, these coins can easily be considered the first stepping stone to the
contemporary coinage system in India.
The coins of independent
India included image of the Lion Capital of Asoka's Pillar at Sarnath, the
symbol of non violence and peace, which the Indian republic had adopted as its
insignia. The superscription 'Government of India' took the place of the name
of the king. On the reverse side of the coins of rupee, half rupee and quarter
rupee denominations, a new motif, a pair of ears of wheat, was placed on the
two sides of the English numerals showing the value of the coin. The coins also
bore the value in Hindi and below in English and the date below. The rupee
coins were security-edged, whereas the half rupee and quarter rupee coins had a
milled edge. The reverse sides of two annas, one anna and half anna were
embellished with the figure of a bull, adapted from the base of the Lion
Capital. The reverse side of the pice coin of this time contained the figure of
horse. The rupee, half rupee and quarter rupee were made in pure nickel, the
two annas, one anna and half anna were made in cupro-nickel and the pice was
made of bronze.
The
metric or decimal system was introduced in 1957 in India. Under the new system,
the Rupee retained its original value but instead of being divided into 64
pice, it was divided into 100 units that were termed as 'Paisa' and it became
the primary unit of Indian currency. Even today the same system is followed by
the contemporary coins in India.With the introduction of the metric
coinage, the earlier familiar equivalents of half rupee and quarter rupee were
retained in their original round shape and in pure nickel with the new
designations 50 paise and 25 paise respectively. During this time, new
denominational coins of 10, 5 and 2 paisa were introduced in cupro-nickel and
one paisa in bronze. The modified coins of independent India bore the word
'India' in English and 'Bharat' in Hindi on the right and left of the Asokan
pillar-capital respectively, replacing the Government of India. The reverse
side of the coin was designed as the obverse side with a slight change of the
word 'rupaya' instead of 'ek rupaya' in Hindi and the ears of wheat was
replaced by the ears of corn. Now the value in English numerals was placed in
the centre in bold letters and the denominations were mentioned in two forms. To know
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