Social media posts on high-denomination coins fake, reveals RTI

Mumbai-based Manoranjan S. Roy had sought a clarification from the IGM through the RTI application following widespread reports that the government had minted special ultra high-value coins of Rs 50, Rs 100, Rs 200, Rs 1,000 and even Rs 2,000 in recent times.

"Many pictures were circulated in the social media which went viral over the past few months about such high-value coins. Strangely though, these purported special coins were never actually visible in the public domain. Hence, I filed an RTI query to the IGM on September 25, seeking the correct position," Roy told IANS.

The IGM said in its reply that since 1995, it had been issuing only 10 paise, 25 paise, 50 paise, Re 1, Rs 2 and Rs 5 coins.

After 2000, it stopped minting the 10 paise coins which later gradually disappeared from circulation, and by 2005, it stopped minting even the 25 paise coins, which were finally withdrawn in 2011 from circulation.

Earlier, in 2009-2010, the IGM introduced Rs 10 coins for the first time in the country, as per the reply.

"Currently, from 2012-2013, the IGM has stopped minting even the 50 paise coins, which continue to circulate in the market. Now it mints only Rs 10 denomination coins only," Roy explained.

At present, the IGM has put in circulation 68.9560 million coins (Rs 10), 171.0750 million (Rs 5), 281.2125 million (Rs 2) and 437.9225 million (Re 1), totalling to 959.1660 million coins of these denominations in the market, produced through its mints in Mumbai, Kolkata, Hyderabad and NOIDA.

"With these figures revealed by IGM, it's a mystery how some mischievous elements are circulating photos and information about non-existent ultra high-value coins. This damages the credibility of the government and must be investigated by a specialised agency like the Central Economic Intelligence Bureau," Roy demanded.