History-of-5-Rupee-Coin

History of 5 Rupee Coin

20 Jul 2018  Fri

The money in your pockets has a very interesting past. Today let’s trace the history of Rupee 5 coins!

In 1985 the first 5 rupee coin was minted! A new denomination and a new face! A cupronickel 5 rupee commemorative coin was minted in the honour of late Prime Minister Indira Gandhi and later in 1989 again 5 rupee commemorative coins for the 100th birth anniversary of Jawaharlal Nehru were minted. Thus the Rupee 5 coin was introduced in the Indian monetary system.

Interestingly, if we trace the history of 5 rupee coins it goes back to the 18th century when the 1/3 gold Mohur weighing 3.840g of the Bombay Presidency were minted. These coins, also known as “Panchia”, were minted in the name of Shah Alam II. The 1/3 Mohur gold coins of Bombay Presidency later gave way to the ‘Rupee 5’ gold coins of British India, weighing roughly the same as their precursors, the Panchia. This ‘Rupee 5’ gold coins minted in 1870 under the reign of Queen Victoria weighed 3.887 g. It was certainly a very long and an interesting journey from ‘Panchia’ to the Republic India’s 5 rupee coins.

The year 1992 saw cupronickel 5 rupee coins in general circulation and it was the highest denominated coin of Republic India until the arrival of ?. 10 in 2005! In the year 2004 Ferritic stainless steel Rs. 5 coins were minted instead of cupronickel and later in 2009-2010 nickel-brass Rs. 5 were introduced.

Like all other Republic India coins, 5 rupee coins too are struck in Mumbai, Kolkata, Hyderabad and Delhi. A series of 5 rupee cupronickel coins struck in the year 2000 were minted in Moscow too!

Like the change in metals and mints, the design of 5 rupee coins has also undergone many changes. With the basic design of the denomination and the Lion capital of Ashoka (India’s national emblem) remaining somewhat the same, 5 rupee coins have commemorated various memorable events and personalities of India.

Interesting isn’t it? Go on check your pockets for these stories in metals!

Image Courtesy: Mintage World