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- Spot Silver Price: $30.05
Silver coins were in regular circulation in India. The values below represent the intrinsic value of silver coins from India.
India silver coins that are in uncirculated condition, or that may be rare and collectible may also have numismatic value. You can use this table as a guide when buying and selling circulated silver coins from India.
The melt values are calculated and displayed in USD based on the today's silver spot price of $30.05 per troy ounce.
| Denomination / Currency | Years Minted | Fineness | Gross Weight (g) | ASW (g) | ASW (oz t) | Melt Value |
|---|---|---|---|---|---|---|
| 10 Rupees | 1969- 1971 | .800 | 15 | 12.00 | .3858 | $11.59 |
| 10 Rupees | 1972 | .500 | 22.5 | 11.25 | .3617 | $10.87 |
| 10 Rupees | 1973 | .500 | 22.3 | 11.15 | .3585 | $10.77 |
| 20 Rupees | 1973 | .500 | 30 | 15.00 | .4823 | $14.49 |
| 50 Rupees | 1974- 1979 | .500 | 34.7 | 17.35 | .5578 | $16.76 |
The history of silver coins in India is rich and spans several millennia, reflecting the region's economic, political, and cultural evolution.
The earliest known silver coins in India date back to the Mahajanapadas period (6th-4th Century BCE), particularly to the 6th century BCE.
These coins, known as Punch-marked coins, were used by various Mahajanapadas (ancient republics and kingdoms) such as Magadha, Kuru, Panchala, and Gandhara.
They were typically irregular in shape and bore symbols punched into them.
The Maurya Empire, founded by Chandragupta Maurya, continued the use of punch-marked silver coins.
During the reign of Ashoka (268-232 BCE), silver coins might have carried the symbols such as the wheel or the lion.
The Gupta period is often referred to as the Golden Age of India. The Gupta kings issued well-crafted silver coins, known for their artistic quality and inscriptions that often depicted kings and deities.
Various regional kingdoms issued their own silver coins. For example, the Chalukyas, Rashtrakutas, and Palas each had distinctive coinage. - Silver coins from this period often depicted local deities, rulers, and symbols of power.
The Delhi Sultanate introduced new styles of silver coinage influenced by Islamic traditions. - Coins often featured inscriptions in Persian and Arabic, and depicted Islamic calligraphy.
The Mughal Empire brought significant changes to Indian coinage, standardizing weights and measures. - The most famous Mughal silver coin was the Rupee, introduced by Sher Shah Suri and continued by subsequent Mughal emperors. - Mughal coins often featured the emperor’s name, titles, and the minting year.
The British East India Company issued its own silver coins is in the 17th century, initially continuing the Mughal tradition but later introducing their own designs. - The Company Rupee became widely circulated.
Under direct British rule, the silver Rupee continued to be the standard coin. - British monarchs' profiles began to appear on Indian coinage, and the coins were standardized across British India.
After independence in 1947, India continued to use the Rupee as its currency. - Silver coins were gradually phased out in favor of base metal coins due to the rising cost of silver and inflation.