HEADS AND TAILS

Getting coins is becoming increasingly difficult, though they are needed in daily transactions

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Even as we are turning into a cashless society, coins continue to play an important role in our day-to-day lives. It might perhaps come as a surprise to many of the present generation that between 1957 and 1964, decimal and non-decimal types of coins were in simultaneous circulation during the changeover to the decimal system. The decimal coins had the legend of naya paisa, meaning new paisa.

A common sight then was customers arguing with vendors over the exact value of the anna in terms of naya paisa, though it was well known that the value of a rupee was unchanged — 16 annas and 100 naya paise made one rupee.

From 1964, only the decimal coins have been in circulation without the legend naya on them. After several changes, we now have coins for 1, 2, 5, 10 and 20 rupees.