On May 28, Prime Minister Narendra Modi unveiled a unique commemorative ₹75 coin to celebrate the inauguration of the new parliament building. The Department of Economic Affairs, under the Union Ministry of Finance, confirmed that the coin weighs approximately 35 grams.
Why Introduce a ₹75 Coin?
The Ministry of Finance introduced the ₹75 denomination coin to mark the inauguration of the new Parliament building. The obverse face of the coin showcases the Lion Capital of the Ashoka Pillar at its center, with the inscription "Satyamev Jayate" below. The Ashoka Pillar is flanked by the word "Bharat" in Devanagari script on the left periphery and the word "India" in English on the right periphery.
Not for General Circulation
These commemorative coins are not meant for general circulation, clarified a Finance Ministry official. Commemorative coins are specially released to honor significant events and feature unique designs that symbolize the occasion they represent. They hold immense value for coin collectors as cherished collectibles. Over 150 such coins have been launched since 1964.
How and Who Can Purchase?
Anyone can purchase this coin from the government website www.indiagovtmint.in. The price of the coin has not been disclosed by the government at the time of writing, but it is expected to be revealed soon.
Composition of the ₹75 Coin
The coin has a diameter of 44 mm and is composed of a quaternary alloy consisting of 50 percent silver, 40 percent copper, 5 percent nickel, and 5 percent zinc, as stated by the Finance Ministry in an earlier statement. Notably, the coin weighing 35 grams features 200 serrations along its edges.
Market Price of the Coin Composition
According to Yogesh Singhal, president of the Bullion Jewellers Association, the cost of the materials alone amounts to a minimum of ₹1,300. To determine the actual purchase price of the coin, one needs to wait for further information from the government.
