When buying collectible Indian coins, there is a huge variety and a long, complex history for buyers to consider. The ways to focus an Indian coin collection are as seemingly endless as the states, sultanates, presidencies, and various other coin-issuing authorities that have risen and fallen on the Indian subcontinent over the centuries. The coinage history of India overlaps, at various points, the coinage histories of Pakistan, Afghanistan, Nepal, Bhutan, Bangladesh, and Burma/Myanmar — even lands as far away as Yemen (not to mention England).
The earliest Indian coins are the “punch-marked” coins, made of silver and sometimes in non-traditional shapes, that were created sometime before 500 BC. Following these coins, many other ancient cultures, including the Janapadas, the extensive Maurya and Kushan Empires, the Kshatrapas and the Yaudheya all issued some beautiful, collectible, and (fortunately) often-seen-for-sale coins. Many coins in Indian numismatic history were made with gold, including a few from the later Chola Dynasty.
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The rise of the mighty Gupta Empire also saw a new selection of coins created around the fourth century AD. The Kalachuri Empire and the various Rajput clans each used their own coins at roughly the same time, from the 6th century to the 13th. The latter part of this time saw coins from the Yadava Dynasty.
Muslim leaders took over large parts of the subcontinent beginning around the early 1200s; the Delhi Sultanate, the Bengal Sultanate, the Jaunpur Sultanate, the Malwa Sultanate, and the Gujarat Sultanate all issued their own coins, and all of them can be found in the marketplace today. The Vijayanagar Empire, which outlasted the era of the sultan, issued coins.
The powerful and long-lasting Mughal Empire ruled India for about three hundred years, issuing a widely collected and beloved selection of coins. Dozens and dozens of Princely States continued to use their own coins during these years as well; this comparatively short part of India’s history can create a life-long collectible coin hobby, so numerous are the coins available.
When Britain took over India, in the 1600s, there were at first three main areas for which coins were available: the Bengal Presidency, the Bombay Presidency, and the Madras Presidency. Britain had always wanted to issue its own coins for India, and beginning with King William IV (r. 1830-7) it did so. Many collectors concentrate on buying these British India coins.
Queen Victoria had several coins issued for India until the end of her reign in 1901. Successive British kings each had the title Emperor of India: Edward VII (r. 1901-10); George V (r. 1910-36); Edward VIII (r. 1936); and finally George VI (r. 1936-47).
India gained independence from Britain in 1947, and issued its own coins from 1950. The main unit was rupees, at first divided into annas, pice, and pies. In 1957, the rupee was decimalized, divided into 100 naye paise (until 1964) and then 100 paise (after 1964).
How to collect Indian coins
When you are acquiring Indian coins for your collection there are some things to keep in mind. Your approach is your own personal choice. You may be interested in one, some, or all of the empires and states mentioned above (see subcategories for more), or you may focus on other things important to you. Here’s some more info about collecting Indian coins, and monetary units, that will help.
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India anna coins
Anna coins were made in India during the era of British rule, beginning in the mid-1700s. One rupee was equal to 16 annas, and 1 anna was equal to 4 pice (a.k.a. paisa). After independence in 1947, India kept using the anna until decimalizing the rupee in 1957. Different anna coins were made for different areas — for example, the Madras, Bengal, and Bombay Presidencies each had their own anna coins.
There are several different denominations of anna coins available to collectors, from fractional anna coins to 4 and 8 annas. Anna coins in various fractional denominations are easy to find on the market today; depending on your interests, anna coins from certain British monarchs, or from specific years, might be your focus.
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Anna coins were copper, bronze, nickel-brass, copper-nickel, and even silver.
India coin sets
Complete Indian coin sets exist for many different eras and areas of the country’s coins. British sets, from before the 1857 coinage reforms (Bombay, Madras, and Bengal Presidencies in particular), as well as the post-1830 British monarch sets made until 1947 independence, are of interest to collectors and can be the subject of spirited attention in online marketplaces. Also, complete sets of Indian coins dating from after India and Pakistan’s 1947 independence are much beloved by many buyers.
India paisa and naya paisa coins
Paisa coins make up a significant part of the Indian collectible coin marketplace today. The paisa unit of currency was first used in India in the Mughal Empire, as an alternate name for the dam. (Another term interchangeable with paise is pice.) Subsequent empires and states also used the paisa unit.
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Singular and plural
The singular form of the word is paisa — thus, one paisa. The plural form is paise, as in 2 paise. You will, however, see both “paisa” and “paisas” used as plural forms in sales listings from time to time. As for the alternate spelling, the plural of pice is the same, “pice”, but you will also see “pices”. During the era of British rule in India, there were four paise in one anna, and one paisa was equal to three pies. Today, since India’s currency decimalization in 1957, there are 100 paise in 1 rupee. (For a time, the paisa was called naya paisa, meaning “new paisa”.)
Paise come in a variety of metals, including bronze, aluminum, nickel, copper-nickel, nickel-brass, stainless steel, and aluminum-bronze. There have been many denominations, sizes, shapes, and designs over the years, including a generous variety made by the modern republican India.
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India pie coins
In Indian coinage, the now-disused pie unit was equal to 1/3 paisa. (The plural of pie is pies.) The pie was the smallest unit of currency used in British India, and there were relatively few varieties issued by the various states that used pies. Despite this relative lack of variety, there are still a good number of interesting pie coins from India for sale at any given time.
The pie was rendered virtually useless due to inflation by the middle of the twentieth century, and was phased out anyway when the rupee was decimalized in 1957.
India proof coins
India proof coins for sale include many varieties from the subcontinent’s vast coinage history. British proof issues from areas such as the Bombay, Bengal, and Madras Presidencies are highly collectible, and very lovely. Of course, modern proofs from the Republic of India are of great interest to collectors as well, as are silver proof coins and the occasional gold proof.
India rupee coins
Rupee coins have been made in India (and other places) since the 1500s. The rupee has fallen in and out of use in various parts of India over the centuries. However, today it has emerged as the major unit of currency in India.
First issued by Sher Shah Suri, leader of a Muslim empire based in Delhi, rupee coins have included many highly collectible pieces over the years. Rupees were traditionally made of silver, even when silver became far less valuable in the nineteenth century and Britain struggled to replace the rupee with its own pound sterling.
By the mid-20th century, there were several different rupees issued in different states around the Indian subcontinent; in 1947, when India won independence from King George VI’s Britain, the central government retained the rupee as its main unit of currency, though some others took a few years to finally be edged out of currency.
Anna series
Modern rupee coins were first issued in 1950. From 1950 until 1957, the rupee was divided into annas, pice, and pies — this is the so-called Anna Series:
- 1 rupee = 16 annas (singular: anna)
- 1 anna = 4 pice (singular: paise)
- 1 paise = 3 pies (singular: pie)
Decimal coinage
In 1957 India decimalized its currency, keeping the rupee and paise units. At first, it called its subunits naye paise (“new paise”) but in 1964 dropped the “new” part.
- 1957-1964: 1 rupee = 100 naye paise (singular: naya paisa)
- 1964-now: 1 rupee = 100 paise (singular: paisa)
India uncirculated coins
Collectible uncirculated coins from India for sale, including many fine examples from the days of British rule on the subcontinent and pieces issued since the country’s 1947 independence, are frequently seen in the marketplace today. These special uncirculated collectors’ pieces include some of the most popular coins for buyers. Silver and gold coins are also of course sold in UNC condition. You may also find uncirculated Indian coin sets for sale from time to time.
Enjoy your collection!
Whatever the type or era of Indian coin you’re looking for, you’ll find it with enough passion, patience, and diligence. There are as many ways to collect Indian coins as there are coins. Happy hunting!
