Why Are ₹10 Coins Still Not Widely Accepted?

Many people are unaware that India’s first ₹10 coin was minted in 1969 to commemorate the Birth Centenary of Mahatma Gandhi, followed by issues marking the 25th Anniversary of the FAO in 1970 and 1971, and the 25th Anniversary of Independence in 1972. Although these were circulating commemorative coins, they were struck in silver alloys and released only in limited quantities.

The modern Bi-Metallic ₹10 coin was introduced in 2005, but it initially faced widespread disapproval due to perceived poor quality. The familiar preference for banknotes and the easy availability of newly designed ₹10 notes further slowed public acceptance. Since the cost of minting a ₹10 Bi-Metallic coin is relatively low—almost comparable to a ₹5 nickel-brass coin—its intrinsic metal value never exceeded its face value, making it unsuitable for melting or resale in grey markets. This diminished speculative interest in the coins, though small-scale duplication still emerged, estimated at about 1–2% of total coins in circulation.

₹10 coins became more commonly found in tea shops, toll booths, and local transport systems. However, frequent comparisons of different official designs on social media sparked unfounded rumours of fake coins. This misinformation led many people to reject ₹10 coins altogether. I personally know of a tea shop near my home that accumulated ₹10 coins worth ₹5,000–₹6,000, which they struggled to circulate and ultimately had to deposit in the bank.

In response to the confusion and declining acceptance, the Government of India gradually reduced minting of both definitive and circulating ₹10 commemorative coins in subsequent years. At the same time, the Reserve Bank of India has continued public awareness campaigns through SMS alerts, emails, and educational materials, urging citizens to accept all ₹10 coin designs as legal tender.

At present, the Government of India has paused the issuance of commemorative coins in lower denominations as part of a broader policy shift concerning smaller denomination coinage.

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