North India Statesman
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News India Live, Digital Desk: Rbi report: Have you ever thought that how much will the government cost in making a coin of one rupee lying in your pocket? We think it is just a piece of metal, but a whole process and cost is hidden behind it. The Reserve Bank of India (RBI) periodically gives information about the cost of printing or casting of coins and notes. This has recently revealed an interesting revelation from a RBI report.
You will probably be surprised to know that the cost that comes in making a coin of one rupee is much higher than the value of the coin! Yes, this is true. Let’s know what has been revealed in the RBI report and how much cost it costs to make a coin of one rupee:
According to the RBI report, the cost that comes in molding (ie in making) one rupee coin is more than the inscribed value of that coin.
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Cost of ₹ 1 coin: According to the report, RBI is almost in making a coin of one rupee 1.11 rupees (one rupee eleven paise) The cost of
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Cost of ₹ 2 coin: Similarly, almost in making a coin of two rupees 1.28 rupees The cost of
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Cost of coin of ₹ 5: Five rupee coin 3.69 rupees The cost of
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Cost of ₹ 10 coin: The biggest coin, ten rupee coin 5.54 rupees The cost of
But why so? Why does it cost more in making coins?
You may find it a bit strange to hear why it takes eleven paise to make one rupee coin, that is, 11 paise more than the price of the coin. Many reasons account for this:
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Cost of raw materials: Metal (metal) is required to make coins. The prices of these metals are up and down in the market. Globally, the increase in metal prices directly affects the cost of making coins.
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Production process: Creating coins is a complex and several stages process. This involves melting the metal, mold, designing, shaping, and making coins shiny. All these procedures require machinery, energy and skilled workers.
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Maintenance and Equipment: The maintenance of coin mint mints (mint) and the operation of expensive machinery are also included in the cost.
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Safety Measures: Several protection features are also added to coins to avoid fake coins, which increases the cost.
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Transport Cost: Transportation costs to transport coins from mints to various centers of RBI.
Does this harm the government?
Technically, the government loses 11 paise on a one rupee coin. But the government does not make coins for profits. The main objective of coins is to make transactions smooth in the economy and make small payments easier. If the government stops making coins, then there may be a lot of trouble in small transactions.
In addition, the lifetime of coins is much longer than notes. A note deteriorates in a few years, while a coin lasts for decades. Therefore, coins do not need to be repeatedly printed in the long term, which reduces the total cost.
This information tells us how there is a big story behind the smallest thing and how the economy works. So the next time there is a coin of one rupee in your pocket, then you will know how hard and money it has taken to make it!
