PM Modi releases special Rs 75 coin with a special stamp on May 28 on the occasion of the inauguration of the new Parliament building.
Prime Minister Narendra Modi released a special commemorative Rs 75 coin along with a special stamp on May 28, during the inauguration of the new parliament building at the Lok Sabha chamber.
The finance minister said, “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.”
Here’s everything you need to know about the new Rs 75 coin:
- The weight of the Rs 75 coin is around 35 gm.
- It will bear the inscription of the Parliament complex and have the image of the new Parliament building.
- Circular in shape with a diameter of 44 mm and have 200 serrations along its edges.
- It is made from a four-part alloy, comprising 50% silver, 40% copper, 5% nickel and 5% zinc.
- In order to mark the year, ‘2023’ will be engraved beneath the picture of the Parliament building.
- The Lion Capital of the Ashoka Pillar and the phrase "Satyamev Jayate" will appear on one side of the coin.
- "Bharat" and "India" will be written in English and Devanagari script, respectively, on the left and right, respectively.
- The rupee symbol and the denomination value of 75 will be written on the coin beneath the Lion Capital.
- The value of 75 in international numerals will also be written below.
- The parliament complex will be depicted on the coin's reverse. On the upper peripheral, the words "Sansad Sankul" will be written in the Devanagari script, and on the lower periphery, "Parliament Complex" will be written in English.
Why did the government create the Rs 75 coin?
The Ministry of Finance has created a coin with Rs. 75 denomination which was released on May 28 to commemorate the opening of the new Parliament building.
Who can get Rs 75 coin? Can you spend Rs 75 coins?
The ones issued to honour special events are not released in general circulation, in contrast to currency notes and coins.
Is Rs 75 coin a legal tender?
Commemorative coins are not utilised in transactions because they are not meant for widespread use. In addition, because half of the Rs. 75 coins is comprised of silver, the coin's metallic worth surpasses its legal value.
How to buy Rs 75 coin?
Visit the Securities of Printing and Minting Corporation of India Limited (SPMCIL) website if you'd want to purchase commemorative coins. As of now, the Rs. 75 coin is not listed on the website. Since they are partially formed of precious metals like silver or gold, as previously noted, most of the time such coins are only intended to be collected and may not be worth their face value.
What is the current market value of this Rs 75 coin?
The material alone cost a minimum of Rs 1,300, according to Yogesh Singhal, head of the Bullion Jewellers Association, reported MoneyControl. One must wait for additional government information to learn the precise price at which this currency can be purchased.
Who makes special commemorative coins?
The Coinage Act of 2011 grants the federal government the authority to create and mint coins in a range of denominations. The RBI's responsibility for coins is restricted to the distribution of the coins that the central government provides.
Four India Government Mints—in Mumbai, Kolkata, Hyderabad, and Noida—manufacture these coins. They are typically created in specialised marketing packaging in small batches.
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