BANGALORE: "Nanyadarshini-2006", a unique all-India exhibition of rare coins and currencies organised by the Karnataka Numismatic Society is all about old money, a peep into bygone eras and a glimpse of the economics of yore. Inaugurated on Wednesday, the exhibition will be on at Sri Basava Bhavana in High Grounds till Saturday.

Numismatist Githa U. Badikillaya explains the aim of such exhibitions: "In numismatics expos, the transition of money from metal to its present form is always lucidly brought about. One gets to know each country's basic unit of conducting business. Money is not only a medium of exchange, but a unit of account, a store of wealth. Such expos give us a peep into the cultural heritage of countries, as these veritable pictorial pieces of paper and metal are practical lessons about a glorious past."

For the uninitiated, numismatics is the science of coins, paper currency and medals. "As we go backwards into India's 2,500 years of numismatic history, coins are almost the only tangible evidence we possess of dynasties or rulers. The coins have acted as time capsules, recording the economic, socio-cultural and political conditions prevalent in their times," explains Air Commodore K. Visweswaran, another avid coin collector.

Indian scene

Now, for a bit of history about the Indian rupee. Silver coins once dominated the Indian money scene. But thanks to the steep rise in the price of silver after World War II, and inflation, the fineness of the silver rupee was reduced by 500 from 1940 to 1947. As silver coins were being melted, nickel coins were introduced.

The first nickel rupee came out in 1946. The last silver rupee was struck in 1945, after which the rupee was struck in nickel and then in cupronickel.

After Independence, the nickel rupee of 11.66 gm, showing the profile of the Ashoka lion instead of the British monarch continued to be minted till 1957. Indian currency was decimalised in 1957. In 1962, the first Indian rupee of 10 gm was issued. This was followed by a copper nickel rupee of 8 gm in 1975. Silver was used only for commemorative coins of Rs. 10 and more.

The Karnataka Numismatic Society, founded in 1974 with 17 members, today has 405 life members with a substantial number of senior citizens. Society president V. Srinivasan feels the State Government could allot a site or building for the society to help numismatists from all over the State converge and exchange ideas and notes about their collections.

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