The Indian 1-rupee coin is an Indian coin worth one Indian rupee and is made up of a hundred paisas. Currently, one rupee coin is the smallest Indian coin in circulation. Since 1992, one Indian rupee coins are minted from stainless steel. Round in shape, the one rupee coins weighs, has a diameter of and thickness of. In independent India, one rupee coins was first minted in 1950 and is currently in circulation.
, the founder of the Sur Empire ruled North India from 1540 to 1545 AD. During his reign, Suri issued pure silver coins in 1542 and named it Rupiya. The denomination remained in usage through the Mughal, Maratha, East India company and British rules. The rupiya was retained by the East India company till 1835 and formed the basis of the British Raj currency till 1947. Each rupiya coin weighed. The sub-unit of rupyia were copper pieces and 40 copper pieces constituted as one rupiya. Sher Shah Suri named the copper pieces as Paisa.
The Madras Presidency issued one rupee coins until 1815 AD. One rupee was equal to twelve fanams.
East India company
In the 17th century AD, the East India Company wanted to introduce the Pound sterling in India. Due to the popularity of the Rupiya, the Pound sterling could not be introduced in India. It was only in 1717 AD that the English obtained permission from the Mughal emperorFarrukhsiyar to coin Mughal money. In 1835 AD, the Coinage Act of 1835 for uniform coinagecame into force. Composed of 0.917 silver, the new one rupee coins weighed and had a diameter of. The reverse of all one rupee coins minted after 1835 and before 1862 AD bore "East India Company" instead of the country's name. The one rupee coins had bust of King William IIII and were first minted in 1835 AD. Rupee coins issued after 1840 bore the busts of Queen Victoria, Edward VII, George V and George VI.
British Raj
The British Raj started in India in 1858 AD after a century of control by the East India Company. The British Raj lasted until Indian independence in 1947. From 1835 to 1858, uniform rupee coins were being issued in accordance to the Coinage Act of 1835. In 1862, new one rupee coins were issued, were known as the Regal issue, bore the bust of Queen Victoria on the obverse and the country name "India" minted on the reverse side. One rupee coins issued after 1835 but before 1862 AD had "East India Company" on reverse instead of country name. From 1862 to 1939 AD, one rupee coins were minted from 0.917 silver, weighed, had a diameter of and thickness of. The obverse side of the coins featured the busts of Queen Victoria, Edward VII, George V and George VI. Edward VIII was never featured on any one rupee coin since his reign was short. Due to World War I and II, there was a shortage of silver. As a result of the shortage, 0.917 silver one rupee coins were replaced by Quaternary silver alloy in 1940. In 1947, the silver one rupee coin was replaced by nickel coins.
One rupee coinage from 1835 to 1947
Independent India
On 15 August 1947, India obtained independence and the monetary system and coinage of the British Raj were retained. It was not until 15 August 1950 that India introduced new coins. Introduction of new coins was done in following chronology and reasons;
Introduction of metric system and related impact on Indian coinage.
Changes due to metallic value of coins.
"Coinisation" of currency notes for cost-benefit.
Subunits
From 1947 to 1957, the Indian rupee was not decimalised and was divided into 16 annas. Each anna was further divided to four Indian pices. Table below shows sub-units of one rupee.
