Have you ever wondered where the phrase “minting money” comes from? Well, a mint is an industrial facility responsible for manufacturing coins, currency or otherwise. In India, coins are minted through the SPMCIL mints located in Mumbai, Hyderabad, Kolkata and Noida.
But what are those symbols at the bottom of the coins?
Every symbol is specific to a mint where the coin has been manufactured. Therefore, every symbol shows where the coin was made.
The Kolkata Mint
The Kolkata Mint was the first mint established in India in 1757. Because it was the first mint, the coins minted there bear no “mint mark”. If the space below the year is empty, it means the coin is out from the Kolkata mint.
The Mumbai Mint
The Mumbai Mint holds the distinction of being the second mint to be established in India, in the year 1829. The coins minted at Mumbai bear these three distinct mint marks:
– Diamond shaped mark below the date
– The letter ‘B’ below the date
– Letter ‘M’ below the date, for the coins minted after 1996.
Established in 1903 by the Government of the erstwhile Nizam of Hyderabad. The Hyderabad mint can be identified from the five pointed star under the date on the coin. Other mint marks include a “split diamond” and a “dot in the diamond”.
The last coin mint established in India was in Noida, in the year 1984. The coins with a round dot below the date are the ones minted at this location.
There have been occasions in the past when India has been faced with a scarcity of coin production, prompting mints located abroad, to fulfill the coin demand. The coins minted abroad bear the following identification marks: