New Parliament building: Where to get new Rs 75 coin and can it be used for transactions?

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Rajya Sabha feputy chairman Harivansh Narayan Singh, Prime Minister Narendra Modi and Lok Sabha Speaker Om Birla unveil Rs 75 coins to mark the inauguration of the new Parliament building on Sunday. PTI

It is the beginning of a New India. As Prime Minister Narendra Modi inaugurated the new Parliament building, he gave us something to further etch the historic moment in our memory. He released a special commemorative coin of the Rs 75 denomination.

It’s a tradition of sorts to issue commemorative coins to mark big occasions, honour notable personalities, and spread awareness about government schemes. This is something the country has been doing since 1964.

On Thursday (25 May), the Union Ministry of Finance announced the launch of the coin.

What’s so special about the Rs 75 coin?

The Rs 75 coin was launched to mark the inauguration of the new Parliament building, a history-making moment in the country. Coined at the Mint under the authority of the central government, the piece is circular with a diameter of 44 mm, weighs around 35 grammes, and has 200 serrations along its edges. It is made of quaternary alloy — 50 per cent silver, 40 per cent copper, five per cent nickel and five per cent zinc.

The face of the coin bears the Lion Capitol of Ashoka Pillar at the centre, with Satyameva Jayate inscribed below. Flanked on the left periphery of it, is the word Bharat in Devnagri script and on the right periphery is the word “INDIA” in English, according to a notification by the finance ministry. The other side of the coin displays the image of the new Parliament building with the words “Sansad Sankul” written in Devanagari script inscribed on the upper periphery and “Parliament Complex” in English on the lower periphery.

Along with the coin, the PM also released a commemorative postage stamp.

Also read: Who is Bimal Patel, the man who designed the new Parliament building?

How to get the coin?

The coin can be bought by anyone. It will be available for sale on the Indian government’s Mint website — www.indiagovtmint.in. The government has not listed the price of the coin so far.

However, its worth might not be the face value of the coin since such commemorative coins are made out of precious metals.

For example, the coin issued to commemorate 100 episodes of PM Modi’s radio show “Mann Ki Baat” is available for Rs 3,494. The weight of the coin is 35 grammes with a composition of silver (50 per cent), copper (40 per cent), nickel (five per cent) and zinc (five per cent). One side of the coin has the “Mann Ki Baat” 100 episode logo with an image of a microphone and sound waves and the year 2023 written on it.

Rs 75 coin released on new Parliament inauguration Where can you buy it and can it be used for transactions
PM Narendra Modi inspects the new Parliament building, in New Delhi. File photo/PTI

Can the Rs 75 coin the used for making purchases?

No, the coin is not for general circulation or everyday transactions. The Rs 75 coin is a collector’s item.

Such coins hold great value for coin collectors, who treasure the. More than 150 such coins have been launched in India, starting in 1964.

The first commemorative coin was released in the country in 1964 to honour India’s first prime minister Jawaharlal Nehru after his death that year.

Also read: ‘Ek Bharat, Shreshtha Bharat’: How new Parliament building has something from across India

What’s the market price of the Rs 75 coin?

According to Yogesh Singhal, president of the Bullion Jewellers Association, the material alone costs a minimum of Rs 1,300, reports moneycontrol.

However, the government will decide the price at which the Rs 75 coin will be available for sale.

Who designs the special coins?

The Coinage Act 2011 gives the Centre the power to design and mint coins in various denominations. The Reserve Bank of India (RBI) distributes the coins supplied by the central government.

The coins are minted by the Government of India in Mumbai, Hyderabad, Kolkata and Noida.

With inputs from agencies

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