Bye Bye Chavanni

This June sounded the death knell for coins of lower denominations i.e., coins below 50 paisa now cease to be legal tender. With the close of the deadline on June 30th 2011, the last day to exchange coins of value 25 paisa and below with banks or the Reserve Bank of India (RBI), coins of lower denominations are now part of history of Indian Coinage. From now on such coins would be seen either in museums or sold as artifacts to coin collectors and numismatists (one who studies coins or medals).

It is believed the first recorded use of coins (derived from Latin “cuneus”) was in China and Greece in around 700 BC and in the sixth century BC in India. Almost all the rulers of various Indian States issued their own unique coins of different shapes, sizes, weights and denominations, in gold, silver, brass and other metals to facilitate trade.

Early coins were cast and die-struck manually on one side with symbols of animals, plants, and humans. Therefore the coins of yester years were not uniform in shape or design. Such coins were called ”Punch Mark” coins and remained in use till 300 BC. Subsequently both sides began to be embossed with the “bust” and “legend” on either side. Coinage in India changed in 1829 AD as the British set up the first two mints in India. Thereafter coins began to be minted in varied denominations carrying specific motifs depicting varied aspects of British dominance in India.

The first set of coins of Republic India was issued on 15th August, 1950 with the official emblem of Indian Republic, the Lion Capital of the Ashoka Pillar in place of British Monarch and a corn sheaf replaced the Tiger on the One Rupee coin, communicating liberation of the country from the shackles of colonial rule. Indian motifs were incorporated on coins of other denominations.

In those days One Rupee consisted of 16 Annas, 1 Anna = 4 Pice and 1 Pice = 3 Pies. The coins currently in use are metric system coins introduced with effect from 1^st April 1957 wherein One Rupee is divided into 100 “Naya Paisa”. But the elderly still followed the earlier nomenclature in their conversation such as Charanna or Chavanni for 25 paisa, Etanna for 50 paisa and Barahanna for 75 paisa. The term “Naya” was eventually dropped from 1^st June, 1964. Since then the Indian system of coinage had remained unchanged except for the fact that the materials used for minting coins and its denominations kept on evolving.

With high inflation in the sixties, small denomination coins which were made of Bronze, Nickel-Brass, Cupro-Nickel and Aluminium-Bronze were gradually minted in Aluminium.  Over a period of time, cost benefit considerations further led to the gradual discontinuance of 1, 2 and 3 paisa coins in the seventies. And now the latest is demonetization of Charanna and below.

During my course of 40 years of existence, I have experienced demonetization of coins twice and each time one or the other thing vanishing from market shelves. During childhood we used to buy candies called “lal mithai” for 1 paisa and pop those candies cheerfully to redden our mouth. Little grown ups bought “gas mithai” for 2 paisa a piece. Marbles were available for 5 paisa. There were so many goodies available in the market starting from 1 paisa. Interestingly peoples christened one of the city hotel as “Chhey paisa hotel” such was the power of coins those days. With the death of coins valued 5 paisa and below not only did those candies and goodies vanished from the market, even the chhey paisa hotel does not exist anymore.

Well, that makes coins not only important but interesting items of history: they are rather evidences and framework of both history and literature of a nation. They become symbols of the lives and reign of historical rulers and leaders representing the ever changing nature of life. The current demonetization of chavanni is bound to bring about certain changes. What all things will disappear, perhaps time only will tell.