The earliest Maldives coins were probably the copper Maldives laaris struck from 1900-02. Though their metrology is quite problematic, there seems to have been three standard denominations: a double laari (Bodu Larin), a laari and half laari (Kuda Larin). During the rule of Muhammad Imad Al-Din II Al-Muzaffar Bin Muhammad additional denominations in the form of the 1/4, 1/8 and 1/16 Laari were introduced on an experimental basis. This experiment was not followed by later rulers with the exception of Muhammad Imad Al-Din IV who struck some lightweight coins which can be considered 1/4 Laari.
Maldives coins of 1913 (1331 AH) were struck at Heaton’s Mint in Birmingham despite the fact that they were inscribed ‘Struck at Male’ in Arabic. By 1960 Maldives coins came in 1, 2, 5, 10, 25 and 50 laari denominations. These were the last coins to be struck under the British protectorate.
In 1970 all references to the Sultanate were replaced with the references to the Republic on Maldives coins. This was the first time the Maldives Rufiyaa was struck. A series of minor coins denominated from 1 laari to 50 laari was released into circulation in 1984. Since then a number of gold Maldives coins as well as commemorative coins were struck.