India 1962(b) naya paisa
This specimen was part of lot 35522 in Heritage sale 3038 (Dallas, January 2015), which sold for $1,116.25. The catalog description[1] noted, "Republic Six-Coin Proof Set 1962-(B), KM-8a, 11, 16, 24.1, 47.2, 55 (but unlisted in proof). Comprised of Paisa - 50 Paise. All coins choice proof, but some are lightly toned. Sold with original I. G. Mint Bombay/Alipore envelopes." This series was issued by India 1957-62 in large quantities. This type was also produced at Calcutta and Hyderabad, which issues may be distinguished by the presence (as here) or absence of a diamond under the date. This coin, 1/100 of a rupee, was called a "naya paisa" to distinguish it from the British paisa, which was 1/64 of a rupee. The denomination was issued until 1981, by which time inflation had rendered it useless.
Recorded mintage: 235,103,000 (including Calcutta and Hyderabad) plus proofs.
Specification: 1.5 g, bronze (KM 8) or nickel-brass (KM 8a), 16 mm diameter.
Catalog reference: KM 8a.
- Michael, Thomas, and Tracy L. Schmidt, Standard Catalog of World Coins, 1901-2000, 47th ed., Iola, WI: Krause Publications, 2019.
- [1]Bierrenbach, Cristiano, Warren Tucker and David Michaels, Heritage Signature Auction 3038, featuring the Empire, the Santa Catarina, the Law and the Santa Maria Collections, Dallas, TX: Heritage Auction Galleries, 2014.
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