Why Don't ₹10 Coins Have Takers?
Many people are unaware that the first ₹10 coin was minted in 1969, featuring Mahatma Gandhi , followed by commemoratives for FAO in 1970 and 1971 , and the 25th anniversary of independence . Although these were circulating commemorative coins , they were crafted from silver and released in limited quantities. In 2005, the Bi-Metallic ₹10 coins were introduced, initially met with disapproval in India due to perceived poor quality. The prevailing mindset and the convenience of using banknotes hindered the transition to coins, especially since banknotes were abundantly available, including newly designed ones. The cost of ₹10 Bi-Metallic coins is lower, almost comparable to ₹5 Nickel-Brass coins. This prompted the rejection of the coin's intrinsic value, as they couldn't be sold for melting in the grey market. Consequently, some entities began producing small quantities of duplicates, comprising around 1-2% of the total coins minted. These coins predominantly circulate in tea sh...