One rupee coin is an Indian coin worth one Indian rupee and is made up of hundred paisas. Currently, one rupee coin is the second smallest Indian coin in circulation. Since 1992, one Indian rupee coins are minted from stainless steel. Round in shape, the one rupee coins weighs 3.76 grams (58.0 grains), has a diameter of 21.93-millimetre (0.863 in) and thickness of 1.45-millimetre (0.057 in). In independent India, one rupee coins was first minted in 1950 and is currently in circulation.
Video One rupee (Indian coin)
History
Sur Empire
Sher Shah Suri, the founder of Sur Empire ruled North India from 1540 to 1545 AD. During his reign, Suri issued pure silver coins in 1542 and named it Rupiya (meaning "beautiful form"). The denomination remained in usage through the Mughal, Maratha, East India company and British rules. The rupiya was retained by the East India company till 1835 and formed the basis of the British Raj currency till 1947. Each rupiya coin weighed 178 grains (11.5 grams). Sub-unit of rupyia were copper pieces and 40 copper pieces constituted one rupiya. Sher Shah Suri named the copper pieces as Paisa.
Madras Presidency
The Madras Presidency issued one rupee coins till 1815 AD. One rupee was equal to twelve fanams.
East India company
In 17th century AD, the East India Company wanted to introduce Pound sterling in India. Due to popularity of Rupiya, the Pound sterling could not be introduced in India. It was only in 1717 AD that the English obtained permission from the Mughal emperor Farrukhsiyar to coin Mughal money. In 1835 AD, the Coinage Act of 1835 for uniform coinage came into force. Composed of 0.917 silver, the new one rupee coins weighed 11.66 grams (179.9 grains) and had a diameter of 30.55 millimetres (1.203 in). Reverse of all one rupee coins minted after 1835 and before 1862 AD bore "East India Company" instead of country name. One rupee coins had bust of King William IIII (IV minted as IIII) and were first minted in 1835 AD. Rupee coins issued after 1840 bore busts of Queen Victoria (1840 to 1901 AD), Edward VII (1903 to 1910 AD), George V (1911 to 1936 AD) and George VI (1938 to 1947 AD).
British Raj
The British Raj started in India in 1858 AD after a century of control by the East India Company. British Raj lasted till Indian independence in 1947. From 1835 to 1858, uniform rupee coins were being issued in accordance to the Coinage Act of 1835. In 1862, new one rupee coins were issued, were known as the Regal issue, bore bust of Queen Victoria on obverse and country name "India" minted on reverse side. One rupee coins issued after 1835 but before 1862 AD had "East India Company" on reverse instead of country name. From 1862 to 1939 AD, one rupee coins were minted from 0.917 silver, weighed 11.66 grams (179.9 grains), had a diameter of 30.78 millimetres (1.212 in) and thickness of 1.9 millimetres (0.075 in). Obverse side of the coins featured busts of Queen Victoria (1862 to 1901 AD), Edward VII (1903 to 1910 AD), George V (1911 to 1936 AD) and George VI (1938 to 1947 AD). Edward VIII was never featured on any one rupee coin since his reign (Jan-Dec 1936 AD) was short.
Due to World War I and II, there was a shortage of silver. As a result of the shortage, 0.917 silver one rupee coins were replaced by Quaternary silver alloy (0.500) in 1940. In 1947, the silver one rupee coin was replaced by nickel coins.
One rupee coinage from 1835 to 1947
Independent India
On 15 August 1947, India got independence and the monetary system and coinage of the British Raj were retained. It was not until 15 August 1950 that India introduced new coins. Introduction of new coins (including one rupee coin) was done in following chronology and reasons;
- Motifs and symbol of sovereignty were adapted to represent Indian independence.
- Introduction of metric system and related impact on Indian coinage.
- Changes due to metallic value of coins.
- "Coinisation" of currency notes for cost-benefit.
Maps One rupee (Indian coin)
Subunits
From 1947 to 1957, Indian rupee was not decimalised and was divided into 16 annas. Each anna was further divided to four Indian pices (from 1835 to 1947, each pice was divided into three Indian pies; till the pie was demonetized in 1947). Table below shows sub-units of one rupee (1835-present).
Independent India coinage
Frozen series (1947-1950)
Anna series (1950-1957)
Decimal series(1957-present)
Naya paisa series(1957-1964)
Aluminium series (1964-2011)
Contemporary coins (present)
Mintage
As of 2017, one rupee coins are minted by India Government Mints in Mumbai, Kolkata, Hyderabad and in Noida. All coins are circulated only through Reserve Bank of India.
Mint marks
Following mint marks have been used on one rupee coins since 1947.
See also
Indian 2-rupee note
References
Source of article : Wikipedia
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