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VendorsHello Friends, today we will be discussing on 1 Pice Coin, which is a extremely rare old coin, whose value in today’s time is 100 time more then the face value of this coin. Today we will discuss about the most rarest old 1 pice Coin. So, This Horse Coin of 1 Pice is the first 1 pice Coin of Republic India, which is called as “ek Purana paisa” in common language. These Horse coin of 1 Pice was issued from the Year 1950 till 1955. The Point to be noted is , this Horse 1 Pice coin is not equivalent to the 1 paise aluminum coin. Both these coins have different face values and both are the part of different- different monetary systems.
On Numismatic Aspect, First let us understand the concept of 1 Pice and 1 Paise. 1 pice coin was part of the Anna series monetary system. In this monetary system, there were 16 annas in 1 rupee, and in 1 anna there were four one pice, which means 64 pice in 1 rupee. This monetary system with ANA series was running from British times, when we used to look at 1 pice whole coin and Republic India coin, ANA series monetary system was followed from 1950 to 1956, since 1957 the monetary system of Indian currency Anna. The series was changed to decimal series, according to which there would be 100 paise in 1 rupee, so these 1 paise coins were initially named as 1 new paise. So now this concept may have been clear to you guys.
Detailing of 1 Pice Coin:-
So let us now know the details visible in the coin. On obverse side of the coin you get to see the Ashoka Lion Capital and encircling this GOVERNMENT OF INDIA is written in english Legend.On the reverse side of the coin you get to see Galloping Horse facing left , on its left side ONE PICE and on its right side एक पैसे is written. Below Horse year of issue is written.
So, many of you were thinking why Horse picture is made on these 1 Pice coins?
So I would like to tell you that in the front view of our National Emblem, we get to see 3 major animals which have their own importance. In the top of these, we see 3 lions, they are already depicted on the obverse side of the coin with the complete Ashoka pillar.In the bottom right of the Ashoka pillar we can see a Bull and this is the reason why we get to see Bull in these Anna coins i.e. half ana, 1 Anna and 2 Anna coins, so, if we look at the reverse side of these Anna Coins, we see prominently this bull. In the bottom left of the Ashoka pillar, you will see the Galloping Horse, in exactly the same design which is printed on 1 Pice, so there are different interpretations related to the milled of galloping horse on the reverse side of the 1 pice, which signifies speed, loyalty and energy. So I hope you understand this concept of Galloping Horse.
Physical Specification of this 1 Pice Coin with Variations:-
Period :- 1950- 1955
Metal :-Bronze
Weight :- 1950-3. Grams, 1951-1955 – 2. Grams
Diameter :- 21.33 mm
Shape :- circular
Thickness:-1.6 mm (1950), 1.2 mm (1951-1955)
Important Points to Keep in mind :-
These 1 Pice coins were issued by Bombay & Calcutta Mints from the year 1950 till 1952.In these 1 Pice coins you get to see Diamond mint mark which signifies that the coin is issued from Bombay mint and in calcutta mint mint there is no mint mark. After that in the Year 1953, 1954 these coins were issued from Bombay, Calcutta and Hyderabad mints But in 1955 .These 1 Pice were issued from Bombay and Hyderabad mints.Although the mint mark of Hyderabad Mint is a 5 pointed star shape mark, but I would like to tell you that the 5 pointed star shape mint mark is seen only in coins issued after 1963 but issued from 1950 to 1955.
The Hyderabad mint mark is visible in the coin in the form of a vertically split diamond hence we get to see the vertically split diamond mint mark in the 1 pice coin issued by Hyderabad Mint from 1953 to 1955. A very important point that you should keep in mind is that in the 1 Pice coins of Republic India coins, the first coins which were issued in 1950, their proof set of the complete set was also issued. In which a proof issue of 1 Pice horse coin was also seen, this set was issued from Bombay Mint. Now as we all know that in the proof sets issued by Bombay Mint, we get to see ‘B’ or ‘M’ but it is not so in this proof set, in all the coins of this proof set, you will get to see the regular diamond mint mark only. . So this is also a very unique feature in proof set of 1 Pice coins.
Extremely Rarest Old Coin :-
So, now lets talk ,which coin among these 1 Pice coin is a extremely rare old coin. So, as you all know that 1 Pice coin is issued from 1950 till 1955. In the year 1953 One Pice Coins were issued from Bombay, Calcutta and Hyderabad mints. 1 Pice 1953 coin of Hyderabad mint comes in extremely rare category, whose value is much more than the face value of this coin in today’s time. Whose value is much more than the face value of this coin in today’s time.
Details and Physical specification of 1 Pice 1953 :-
On obverse side of the coin you get to see the Ashoka Lion Capital and encircling this GOVERNMENT OF INDIA is written in english Legend.On the reverse side of the coin you get to see Galloping Horse facing left , on its left side ONE PICE and on its right side एक पैसे is written. Below Horse year of issue and vertically split diamond mint mark is seen, which signifies that the coin is issued from Hyderabad mint .
Price Value of 1 Pice Hyderabad Mint Coin :-
The price of this One Pice 1953 Hyderabad mint coin starts from 5000 rupees in Fine Condition and in UNC condition you get this coin up to 25,000- 30,000 rupees.
Price value of all 1 Pice Coin :-
| YEAR | FINE CONDITION | VERY FINE CONDITION | EXTRA FINE CONDITION | UNC CONDITION | MINT |
| 1950 | ₹5 | ₹10 | ₹15 | ₹30 | Bombay |
| 1950 | ₹5 | ₹10 | ₹15 | ₹30 | Calcutta |
| 1951 | ₹5 | ₹10 | ₹15 | ₹30 | Bombay |
| 1951 | ₹5 | ₹10 | ₹15 | ₹30 | Calcutta |
| 1952 | ₹5 | ₹10 | ₹15 | ₹30 | Bombay |
| 1953 | ₹5 | ₹10 | ₹15 | ₹30 | Bombay |
| 1953 | ₹5 | ₹10 | ₹15 | ₹30 | Calcutta |
| 1953 | ₹2,000 | ₹5,000 | ₹10,000 | ₹30,000 | Hyderabad |
| 1954 | ₹5 | ₹10 | ₹15 | ₹30 | Bombay |
| 1954 | ₹5 | ₹10 | ₹15 | ₹30 | Calcutta |
| 1954 | ₹300 | ₹750 | ₹1500 | ₹2500 | Hyderabad |
| 1955 | ₹20 | ₹30 | ₹50 | ₹150 | Bombay |
| 1955 | ₹500 | ₹1500 | ₹2500 | ₹4000 | Hyderabad |
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