The Tech Daily

Ending a long wait, the ten rupee coin would soon become available in the market an official source at the government mint here said. The ten rupee coin will have a diameter greater than that of the two rupee coin. “The weight of the coin would be 8 gram and diameter would be 28 millimetres,” the source said.

The mint, located in sector 1 here, has been minting the ten rupee coins for the past seven months on the instructions of the Reserve Bank of India. It now has coins worth 70 million stored in its stock, the source added.

Besides ten rupee coins, the facility is minting 50 paisa coins also to overcome coins-shortage in the market.

The National Institute of Design, Ahmedabad, has prepared the design for the ten rupee coin.

Coins are minted at the five Government Mints at Mumbai, Alipore in Kolkata, Saifabad in Hyderabad, Cherlapally in Hyderabad and Noida in Uttar Pradesh.

Coins in India are presently being issued in denominations of 10 paise, 20 paise, 25 paise, 50 paise, one rupee, two rupees and five rupees. Coins upto 50 paise are called ’small coins’ and coins of Rupee one and above are called ‘Rupee Coins’. Coins can be issued up to the denomination of Rs.1000 as per the Coinage Act, 1906.

Apparently, a defect is still present. Reports are that some of the coins’ outer rings may break away from their inner center piece. Mint counting machines experienced about a 2-3% failure rate, according to The Telegraph. That same rate is cited for potential failure once the coins circulate and begin to wear.

The coins weigh 7.71 grams and have a diameter of 27 millimeters. The outer rings are composed of Aluminum Bronze (95% copper, 6% aluminum and 2% nickel). The inner is struck from Cupro Nickel (75% copper and 25% nickel).

Source:http://www.thaindian.com