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Showing posts with label DECIMAL COINS. Show all posts
Showing posts with label DECIMAL COINS. Show all posts

Sunday, April 23, 2023

The Story of Naya Paisa



The Story of Naya Paisa
The history of Indian currency dates back centuries, with various forms of coins and currencies being used throughout different regions of the country. 
However, the modern Indian currency system as we know it today began in 1835 when the British East India Company introduced the British Indian Rupee as the official currency of India. 
This system continued for over a century, until India finally gained its independence in 1947.

After gaining independence, India began the process of establishing its own currency system. In 1950, the first Indian coins were introduced, including the Pice, Anna, and Rupee coins. 
These coins were based on the British system, with the Rupee being the equivalent of the British Pound. 
However, there was still a lot of confusion over the value of these coins, and many people were still using the old British currency.

To address this issue, India adopted a decimal currency system in 1957, with the introduction of the Naya Paisa. 
The Naya Paisa was designed to be equivalent to one-hundredth of a Rupee and was intended to simplify the currency system and make it easier for people to understand. 
The prefix "Naya" was added to distinguish it from the old Paisa coins, which were still in circulation.

Over time, however, the Naya Paisa proved to be more of a hindrance than a help. 
Many people found it confusing, and it was difficult to use in everyday transactions. 
In 1962, the government of India decided to drop the prefix "Naya" and simply refer to the coin as the Paisa.

Today, the Indian currency system includes coins and banknotes in a variety of denominations, including the Paisa, Rupee, and various higher-value notes. 
The Reserve Bank of India is responsible for issuing and regulating the country's currency and works to maintain the stability and integrity of the Indian financial system.

In conclusion, the history of Indian currency is a fascinating one, filled with many changes and developments over the years. 
From the early days of ancient coins and bartering, to the more modern systems of Rupees and Paisas, the currency of India has played a vital role in the country's economic growth and development. 
Despite the challenges and obstacles that have arisen along the way, the Indian currency system continues to evolve and adapt to the changing needs of its people, ensuring a strong and stable financial future for the nation.




Tuesday, August 17, 2021

OLD INDIAN DECIMAL COINS DETAILS AND PRICE Part – 1

 This is a sequel for yesterdays blog

OLD INDIAN DECIMAL COINS DETAILS AND PRICE Part – 1

VIDEO BLOG

BY COIN-HOUSE, KOCHI 




1 Naya Paisa (1957-1962)

1.5 gram Bronze coin with 16 millimetre diameter

Krouse reference number 8

Approximate market value rupees 10

1 Naya Paisa (1962-1963)

1.5 gram Nickel brass  coin with 16 millimetre diameter

Krouse reference number 8ª

Approximate market value rupees 10

1 Paisa (1964)

1.5 gram Nickel brass  coin with 16 millimetre diameter

Krouse reference number 9

Approximate market value rupees 10

1 Paisa (1965-1981)

.75 gram Aluminium quare coin with 17 millimetre diameter

Krouse reference number 10

Approximate market value rupees 10

2 Naye Paise

1957-1963

2.9 gram Copper-nickel  coin with 18 millimetre diameter

Krouse reference number 11

Approximate market value rupees 10

India Republic  2 Paise

1964

2.9 gram Copper-nickel  coin with 18 millimetre diameter

Krouse reference number 12

Approximate market value rupees 10


India Republic  2 Paise

1965-1981

1 gram Aluminium  coin with 20 millimetre diameter

Krouse reference number 13

Approximate market value rupees 10


India Republic  3 Paise

1964-1971

1 gram Aluminium  coin with 20 millimetre diameter

Krouse reference number 14

Approximate market value rupees 10

Thank you

Coin-house, Kochi

We will continue with decimal coins in our next episode




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