Coins: India
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Commemorative coins
A backgrounder
July 13, 2024: The Times of India
What are commemorative coins?
As the name suggests, commemorative or ceremonial coins are issued to commemorate a certain event, celebrate a certain person, or further a certain message. They have a distinctive design, which references the occasion for which they were issued, and are often of a different (generally, larger) denomination, than regular coins.
Commemorative coins are often issued in very small quantities, and kept by the RBI as uncirculated collectors’ items. Sometimes, however, they can also be meant for mass circulation. This depends on the Centre’s intention behind issuing a certain coin.
Why are commemorative coins issued?
Since ancient times, coins have been used as tools to disseminate the rulers’ message, and further their image, often, quite literally. Philologist Thomas R Martin argued that the mobility of coins and their durable nature makes them one of the most desirable tools of publicity. (“Sulla Imperator Iterum: the Samnites and Roman Republican coin propaganda”, 1989).
Commemorative coins serve this very purpose. They generate publicity about a certain theme or issue which the government wants to stress on. For instance, in 1974, the Indira Gandhi-government introduced a coin with the theme and legend ‘Family Planning’, reflecting her government’s concerted population control push.
They are also used as tools of remembrance. For instance, the very first commemorative coins in India were issued in 1964, after the death of Prime Minister Jawaharlal Nehru. Similarly, in 1969, the government launched a coin series celebrating Mahatma Gandhi’s birth centenary. Commemorative coins have been issued in honour of many Indian luminaries, including Rabindranath Tagore, B R Ambedkar, Bhagat Singh, Lal Bahadur Shastri, Lala Lajpat Rai, Shyamaprasad Mukherjee, Jayprakash Narayan, and Indira Gandhi. In 2017, the government issued commemorative coins in honour of the deceased former Tamil Nadu Chief Minister and legendary actor M G Ramachandran, and the late Carnatic music maestro M S Subbalakshmi.
Some coins institutions (like the State Bank of India or Mata Vaishno Devi Shrine Board), or occasions (like the 75th anniversary of Indian Independence) rather than individuals.
Who issues commemorative coins?
The sole authority to print or mint any Indian currency lies with the Reserve Bank of India, which works under the Union Finance Ministry. Thus, it is the Union Finance Ministry which ultimately decides whether to issue a commemorative coin or not.
However, state governments, government-run cultural institutions, or even private organisations can request the government to issue commemorative coins. For instance, in Subbalakshmi’s case, the request was made by the Sri Shanmukhananda Fine Arts & Sangeetha Sabha. For the Karunanidhi commemorative coins, the request came from the Tamil Nadu government last year.
Who was Karunanidhi? What are some features of the coin issued in his honour?
Muthuvel Karunanidhi (June 3, 1924-August 7, 2018) was a writer and politician, who served as the Tamil Nadu chief minister for a period of almost two decades, over five terms, between 1969 and 2011. He is popularly called Kalaignar, or “the artist”. One of the tallest leaders of the Dravidian movement, Karunanidhi headed the DMK, which is currently in power in Tamil Nadu under his son Stalin, for decades.
The Rs 100 denomination coin issued in his honour will weigh 35 grams, have a diameter of 44 millimeters, with 200 serrations on its edge. It will be composed of an alloy comprising 50 per cent silver, 40 per cent copper, 5 per cent nickel, and 5 per cent zinc. On its reverse side a portrait of Karunanidhi will be inscribed, with his signature below the image. “The Birth Centenary of Kalaignar M Karunanidhi” will be inscribed in English on the coin’s right periphery, with “1924-2024” written on the bottom.
