Indian Coinage During the Raj

 

Indian Coinage during British Period

Everybody knows that an Indian Rupee is made up of 100 paisa. But this coinage was introduced only in 1955. At that time the paisa was known as 'Nay paisa'. The earlier coinage had lasted for more than 2000 years. The old system was archaic, but was interesting. At that time a Rupee was made up of 16 Anna. In turn an Anna was made up of 4 Paisa. Thus a Rupee was made up of 64 paisa.

This system of coinage was rooted in antiquity and was followed all over India. When British came to India in 17/18 century they accepted this system of Rupee, Anna and Paisa. This continued for more than 8 years after British left India in 1947. In 1955 the Indian government decided that time had come to change to Metric system. The Anna was abolished and only paisa retained. Instead of 64 paisa, a Rupee was to have 100 paisa and a new counting age was ushered. India came abreast with the world. However old Anna and Paisa are avidly collected by coin collectors