On May 28, 2023, the 75 rupees coin was released as a part of the festivities and celebrations on the inauguration of the new Parliament building. Skepticism surrounds the launch of this new 75 rupees coin on the grounds of its usage, availability, features, and significance of the new currency. You will get an answer to all such questions in the coming sections of the article. Here’s what you need to know about the new 75 rupees coin launched by PM Narendra Modi. 

Why Is The New 75 Rupees Coin Launched? 

To mark some notable events and occasions, the government of India mints “commemorative coins,” and the new 75 rupees coin is a part of the commemorative category.  The reason for the launch is to commemorate the inauguration of the new Parliament building. Such commemorative coins are generally launched to mark special occasions and events that follow. 

Can The 75 Rupees Coin Be Used For Daily Transactions? 

The purpose of the new 75 rupees coin is to celebrate the inauguration of the new Parliament building, and such type of currency is not meant to be circulated in the economy as a legal tender for exchange. Such commemorative coins are just meant to be a symbol to mark an important event and occasion. The external value of such coins is generally higher than the denomination. So is the case with the new 75 rupees coin; the making cost of the coin itself amounts to Rs. 1300. Securities of Printing and Minting Corporation of India Limited (SPMCIL) currently lists Rs. 1, Rs. 2, Rs. 5, Rs. 10, and Rs. 20 coins for the purpose of general circulation.

According to RBI, “The coins issued by Government of India under Section 6 of The Coinage Act, 2011, shall be legal tender in payment or on the account provided that a coin has not been defaced and has not lost weight so as to be less than such weight as may be prescribed in its case.” People can keep the 75 rupees coin just as collectables. 

Where To Buy The New 75 Rupees Coin? 

Even though it is not meant for general circulation, you can still buy the 75 rupees coin to keep as a souvenir. You can get hold of the new 75 rupee coin from the government website: www.indiagovtmint.in. The price of purchasing the count has not been disclosed yet, but it will soon be updated on government sites. Apart from the new 75 rupees coin, you can also browse for some other commemorative coins on the website. Moreover, you can also visit the official website of SPMCIL to search for the coin. Anyone is eligible to purchase the 75 rupees coin. 

The New 75 Rupees Coin: Features &Specifications

With a diameter of 44 mm, the coin is composed of 50% silver, 40% copper, 5% nickel and zinc. The composition of the 75 rupee coin amounts to more than the actual denomination. The new 75 rupees coin will weigh 35 grams, according to The Department of Economic Affairs (DEA). 

The new 75 rupees coin depicts the Lion Capital and Ashoka Piller on the obverse face, with ‘Satyamev Jayate’ inscribed below. In the centre of the Ashoka Pillerthe word “Bharat” is written in Devanagari script and India written in English on either side of the coin. 

Below the Lion Capital, a rupee symbol “‘ ₹”  is inscribed with ‘75’ written alongside. 

The reverse side of the coin portrays an image of the new Parliament building and the year ‘2023’ written below the image. 

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Some Other Commemorative Coins

Just like the new 75 rupees coin, there are other commemorative coins launched by the government of India to mark other important occasions and events. Here are a few of them: 

• Rs. 150 coin to celebrate the 150th Birth Anniversary of Jainacharya Shree Vijay Vallabh Surishwer Ji 
• Rs. 175 coin to mark the 175th Year of IIT Roorkee
• Rs. 100 coin to mark the 90th Interpol General Assembly 2022
• Rs. 75 coin to mark the Diamond Jubilee of the National Cadet Corps
• Rs. 250 coin to mark the 250th Anniversary Of Raja Ram Moha Roy. 

These are just a few of the commemorative coins, just like the new 75 rupees coin . You can get hold of all these coins on the SPMCIL official website and purchase any coins to keep them as a token. 

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