NUMISMATICS

NUMISMATICS

Though, beyond our general interest and consideration, the topic draws attention in the light of our recent survey of items declining or disappearing. Quite a number of coins have slipped into ‘inactivity.’ A broad perception shows that on and off, coins have enjoyed the status of currency or have been demonetized and some have faced ‘social apathy’. What is the social apathy we witness can be recognized if we recall the fate of denominations, below that of Re. 1/- There has been no official word on the withdrawal of them from circulation. But, they do not survive as ‘legal tender’ in practice. For paying a sum of Rs 2/- one cannot hand over 4 coins of denomination -50 ps. Same is the fate of several lower denominations. Abruptly, denominations below that of Re 1 have been rendered ‘inoperative’ by social practice. Yes, to ratify my observation, let me draw your attention to some typical market practice among vegetable vendors in our markets.

A unit price for some vegetable [250 grams] is quoted to be Rs 10/-. When we ask for 2 units [500 grams], the vendor suggests Rs 15/- for 2 units. Logically, a basic unit ought to be sold for Rs 7.50/-or 2 units [500 grams] ought to cost Rs 20/-. So, the actual price per unit is just Rs 7.15 ; to avoid the problem of collecting exact fare and refunding the balance in fractions of a Rupee, vendors round off at Rs 10/- or 15 [2 units]. Also some items are right away pegged at Rs 5/- as the base price below which the item is not sold. [for instance Coriander leaves and Curry leaves or a piece of Ginger or a cluster of green Chillies].

The denominations to have faced ‘social extinction’ are 50 ps, 25 ps, 20 ps,10 ps. 5 ps, 3 ps, 2 ps and 1 paisa. They were in specific shapes and size –fitting the value. 50ps and 25 ps had circular form differing in diameter -50 ps coin was larger. 20 ps coin was square in shape as also were 5 ps and 3 ps but progressively decreasing in size commensurate with value. Such variation in size / format helped the illiterate user as well as those visually challenged, so that transactions went on peacefully. Coins intended to carry values of 10 ps and 2 ps had similar wavy outline but drastically different in size as per value. Curiously 1 ps coin had different shapes; the later ones were of square format while the earlier ones were circular and in copper.

The metric system of coin denominations were introduced in 1957. Prior to that India had a system of denominations well known Re / anna [அணா]  /paisa . which was totally Indian in character. Somehow, the British did not tamper with it and maintained it. This is my understanding. If wrong please correct me. That system had its incongruities in that, a Rupee = 16 anna [அணா] and 1 anna = 6 paisa . If one converts rupee to paisa it would just account for only 96 paise as against the required 100. So, an anna அணா] was little more than 6 ps . By value it was 6¼ ps.  But, all transactions were going on.

The then lowest denomination in Re/ anna/ Ps system was ¼ anna.It had 3 different forms – a large coper disc, a smaller disc and one with a central hole big enough to accept a little finger of a man. Mind you  the ¼ anna had purchasing power!  One could buy items like peanut, peanut candy, ice fruit [kuchi ice].For ½ anna 10 betel leaves , 1 anna can fetch a table spoon of coffee powder . As late as 1969-70 a limited meal was at Ps 0.70 or 0.75 in Madurai; a cup of coffee= 30 ps,  May be because at that price bracket nothing can be done today, several lower denomination coins came under  social ‘apathy’ if I may use the term. So much of changes in the numismatic arena have occurred.

Prof. K. Raman