RBI has notified that the 25 paise coin will no longer be a legal tender from June 30, 2011. Given the inflation in the country and constant devaluation of the currency, this move is not a surprise to many. Banks and all branches of RBI will be accepting these coins at face value until June 30, 2011.
Unofficially, these coins were not being accepted at many stores and retail outlets for past many months. However there are many in the poorer districts of India that will be affected by this move. Such coins are very famous in poor districts of Bihar, Orrisa and Uttar Pradesh where daily wage laborers earn less than Rs 20 a day. The move is going to affect pan and gutka shops in such small towns.
25 paise coins were launched in 1957 when India moved from anna system to the decimal currency system. Over the years various 25 paise coins were launched by RBI including the famous 1998 stainless steel 25 paise coin.
Given that these coins will no longer be in circulation, there numismatic value and interest will increase sharply. If you have some of these coins, it might be a good idea to preserve them as they are now part of history.
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