Indian Monetary System & Mint Marks
East India & British India Coins
East India Company issued coins between 1835 and 1858.
British India coins were issued between 1862 and 1947 by various rulers.
William IV – 1765 to 1837
Queen Victoria – 1819 to 1875
Victoria Empress – 1876 to 1901
Edward VII – 1841 to 1910
George V – 1865 to 1936
George VI – 1895 to 1952
| Monetary System | |||
| Pies | Pice | Anna | Rupee |
| 1 | 1/3 | 1/12 | 1/192 |
| 3 | 1 | 1/4 | 1/64 |
| 6 | 2 | 1/2 | 1/32 |
| 12 | 4 | 1 | 1/16 |
| 24 | 8 | 2 | 1/8 |
| 48 | 16 | 4 | 1/4 |
| 96 | 32 | 8 | 1/2 |
| 192 | 64 | 16 | 1 |
| 1 Mohur = 15 Rupees | |||
Mints in India during British rule:
Madras mint was established in 1640 and closed on 1869.
Mumbai mint was established in 1671.
Kolkata mint was established in 1759.
Republic India Coins
Though we got Independence on 15th August 1947, till India had become Republic on 26th January 1950, coins issued by the British India were under circulation. The Government of India had started minting coins only from 15th August 1950. Hence the coins being issued by Indian Government are referred to as Republic India Coins.
Anna Series was followed up to 1957
Lowest denomination was 1 Pice.
4 Pice = 1 Anna
16 Annas = 1 Rupee
Decimal Series being followed from 1957 onwards
100 Paisa = 1 Rupee
Present day mints in India:
| Place | Description | Mint Mark |
| Mumbai | Diamond |  |
| Kolkata | No mint Mark |  |
| Hyderabad | Diamond Split Vertically (1953 to 1960) |  |
| Incused Dot in Diamond (1960 to 1968) |  | |
| Star (1963 to till date) |  | |
| Noida | Dot |  |
Indian coins minted in foreign mints:
| Place | Description | Mint Mark |
| Taegu Mint, South Korea | Star below 1st digit of date |  |
| Seoul Mint, South Korea | Star below last digit of date |  |
| Royal Mint Ottawa, Canada | “C” below date |  |
| Royal Mint London, UK | Diamond below 1st digit of date |  |
| Birmingham/Heaton, UK | “H” below last digit of date |  |
| Pretoria Mint, South Africa | “M” in Oval below date |  |
| Tower Mint, UK | “U” below date |  |
| Mexico city Mint, Mexico | “O” above “M” below date |  |
| Kremnca Mint, Slovakia | “MK” within circle |  |
| Moscow Mint, Russia | “MMD” within Oval below date |  |
TERMINOLOGIES USED IN NUMISMATICS
Normal words used to refer the two sides of a coin – Head and Tail.
In Numismatics, they are called Obverse and Reverse respectively.
Obverse usually contains the portrait of Ruler or the emblem of the Country.
Reverse usually depicts the denomination of the coin, year of issue and mint mark.
Rim is the upraised part of the coin that surrounds the edge of a coin on its both sides.
Edge is the outer border of a coin and different edges are done to avoid forging of coins.
Types of Edge – Reeded, Plain, Security
Grading can be categorized by grading agencies as follows:
Poor – least visibility of inscription, illegible and worn
Fair – inscriptions are legible but with less fine details
Fine – lot of wear stilldesign and legends are identifiable
Very Fine – slight damage with design and legends are clear
Extremely Fine – No damages anywhere with very clear design & legends
Uncirculated (UNC) – Although these coins are minted for circulation, they are not at all used or well preserved.
1. Types of Coins:Issued for general circulation:
Definitive/ Regular coins come in a particular design and the design will be kept for few years.
Commemorative coins will be issued to commemorate certain personalities, events or organizations, etc.
2. Issued only to VIPs and Numismatists:
Uncirculated (UNC) Sets will be issued again to commemorate certain personalities, events or organizations, etc. These are issued at a premium only to those who apply during the prescribed period. These are minted with high quality.
Proof Sets are same as UNC sets but minted with extra high quality.
Refer www.spmcil.com for new issues.