To mark the inauguration of the new Parliament building, the Ministry of Finance on Thursday issued a notification to announce a Rs 75 commemorative coin. A commemorative coin is usually produced to honour a special occasion, person, or monument, and they have a unique design. In the past, several commemorative coins have been introduced in India.
“The coin of Seventy-Five Rupees denomination shall be coined at the Mint for issue under the authority of the Central Government on the occasion of the inauguration of the New Parliament Building,” said the finance ministry.
A commemorative coin is usually produced to honour a special occasion, person, or monument, and they have a unique design. In the past, several commemorative coins have been introduced in India.
Details on Rs 75 coin:
The new Rs 75 coin will include a picture of the new Parliament building and contain the inscription "Parliament Complex," according to the finance ministry.
The coin will be circular with a diameter of 44 millimetres and have 200 serrations along its edges. The 35-gram coin will be made from a four-part alloy comprising 50 per cent silver, 40 per cent copper, 5 per cent nickel and 5 per cent zinc. At the bottom, an image of the Parliament complex, 2023, will be inscribed to mark the year.
One side of the coin will feature the Lion Capital of Ashoka Pillar, with the words “Satyamev Jayate” below it and the word “Bharat” will be written in Devanagari script on the left side and “India” in English on the right. The coin will also have the rupee symbol and the denomination value of 75 inscribed below the Lion Capital.
The other side of the coin will show an image of the parliament complex. "Sansad Sankul" will be written in Devanagari script on the upper periphery and "Parliament Complex" in English on the lower periphery.
This is not the first time a Rs 75 coin has been released to mark a significant occasion. To celebrate the 75th anniversary of the Food and Agricultural Organisation (FAO), a commemorative Rs 75 coin was issued in October 2020.
Here is how you can get the Rs 75 coin
The notes and coins issued to mark special occasions are not released in general circulation.
Commemorative coins with higher denominations containing precious metals like gold and silver are often released as collectables rather than made available as legal money. Conversely, less expensive commemorative coins typically only remain in circulation for a brief period of time.
People interested in collecting commemorative coins can source/buy them from specified agencies.
Who makes it:
These coins are produced by four India Government Mints located in Mumbai, Kolkata, Hyderabad and Noida. They are usually made in limited quantities in specially marketed packages.
The higher-value commemorative coins, released in various denominations and only intended for collecting and typically contain some silver, are particularly well-liked by coin collectors.
The lower denomination coins can be seen often in general circulation, and you may have come across them in the past.
Whereas to get the higher denomination coins (those exclusively for collections), you need to order them directly from any of the Indian Government Mints during a specific time period. In addition to mints, these collectors’ coins can be found with coin dealers at marked-up prices.
To get commemorative coins directly, one can visit the websites of Kolkata Mint, Mumbai Mint and Hyderabad Mint to place an order.
Bookings to purchase commemorative coins often start three to six months in advance. To buy the coin, people can even go directly to the mint. The mints typically post a list of the coins they have available for purchase, along with their prices, on their notice boards.
Newspaper advertisements for these bookings start before any commemorative coins are released or minted, and there is a set window of time during which they can be made.