FAQ: The new Rs 75 coin released at Parliament inauguraton – How to get it? Can you spend it?

Commemorative coins are made available for purchase by the Securities of Printing and Minting Corporation of India Limited (SPMCIL) – the government's printing and minting agency. You can place an order for commemorative coins online, via the SPMCIL's website.

The coins are sold as collectables, and at a price much higher than their denomination.

No. Since the coin is not introduced into general circulation, it can not be used to make financial transactions.

The actual price of commemorative coins is much more than their face value. They cannot be treated as legal tender valued at their denomination.

Commemorative coins are partially made of precious metals such as silver or gold. The souvenir coin for the new Parliament is composed of a four-part alloy consisting of 50 per cent silver, 40 per cent copper, 5 per cent nickel, and 5 per cent zinc, as per the Finance Ministry.

In 2018, the government issued a commemorative coin of Rs 100 denomination to honour former Prime Minister Atal Bihari Vajpayee. The coin was partially made (50 per cent) of silver. It is currently available for purchase at the SPMCIL’s website for Rs 5,717.

The souvenir coin has a circular shape with a diameter of 44 millimeters and features 200 serrations along its edges. Weighing 35 grams, it features the Lion Capital of the Ashoka Pillar with "Satyamev Jayate" inscribed below it. On the left, the word "Bharat" is written in Devanagari script while on the right, "India" is written in English. This face of the coin also displays the rupee symbol and the denomination value of 75.

The flipside shows an image of the Parliament complex, with "Sansad Sankul" in Devanagari script on the upper periphery and "Parliament Complex" in English on the lower periphery.

While the Reserve Bank of India (RBI) has the sole right to issue banknotes in India, the power to design coins rests with the Centre. Section 25 of the RBI Act states that the design, form, and material of bank notes shall be such as may be approved by the central government after consideration of the recommendations made by the Central Board of RBI.

The Coinage Act, 2011, on the other hand, gives the central government the sole power to design and mint coins in various denominations. The role of the Reserve Bank of India (RBI) is limited to issuing the coins, supplied by Centre, for circulation.