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Tuesday, September 18, 2012

25 paise coin withdrawn from circulation wef July 01,2011


The Reserve Bank of India(RBI) has withdrawn from circulation coins of 25 paise and below from June 30, 2011.Coins of denomination of 25 paise and below will not be accepted for exchange at the bank branches from July 1, 2011

Evolution of the 25 paise coin 

The first of the quarter rupee coins made of silver were issued in India during the reign of William IV.



The longest reigning monarch of the United Kingdom, Queen Victoria also held the title of the Empress of India. During her reign a number of quarter rupee coins were issued. Soon after her ascent to the throne, a silver quarter rupee coin was issued in India. The coins featured the bust of a young Queen Victoria.





The one-fourth rupee coins made of silver issued later in Queen Victoria's reign had a more mature looking bust of the queen.



While Queen Victoria was adding to her years in real life, she also put in a bit of weight on the her image on the coins. 




Following the death of his mother Queen Victoria, Edward VII was crowned as the King of the United Kingdom and also as the Emperor of India. All new coins issued during the time bore his name and face.





A new design of coins were introduced in 1919 that sought to replace the existing silver quarter rupee coins. The new equivalent of the quarter rupee coin was the 4 aana coin, that was made from cupro-nickel instead of silver. The rising silver prices following the First World War necessitated this change. These coins had the effigy of King George V.
George V was crowned the King in 1910. He was also the first reigning British Monarch to tour India. The 4 aana coins introduced in 1919 didn't gain popularity and soon the quarter rupee coins had to be brought back




King George VI was the last of the British monarchs to rule over India. His predecessor Edward VIII abdicated the throne in order to marry divorced American socialite Wallis Simpson. There were no coins issued for Edward VIII.



The first coins of independent India were introduced on August 15, 1950 and it included the quarter rupee coin made of nickel. The coins had the words 'char aana' embossed in Devnagri script and had the Ashoka Emblem on one side.





Another major landmark in the history of the 25 paise coin happened following the introduction of the decimal series in accordance with the Indian Coinage Act that came into force from April 1, 1957. The 19 mm 25 paise coins were called '25 naye paise'. The tern 'naye paise' was used for wider public recognition of the new coinage system and was discontinued from June 1, 1964 when the term 'naye' was dropped. The coins weighed 5 grams and were made of nickel.





The text 'rupaiye ka chautha bhag' (one fourth of a rupee) was also replaced by 25 paise. While other coins of lower denominations underwent a major change and moved to aluminium, the 25 paise coin didn't change much.



In 1988 the 25 paisa coin went steel and was made of ferratic stainless steel. It was a little heavier than its predecessor at 2.83 grams but was of the same size. The last 25 paise coins seen in popular circulation were minted in the year 2002.

 

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