Five crore commemorative coins of Rs 5 denomination, unveiled recently to celebrate 150 years of taxation, will be minted for public distribution soon. The coins, released by Finance Minister Pranab Mukherjee on February 26, will be put in public domain and will be a collector’s item. These will have no extra price, a senior Finance Ministry official said. The special coin was unveiled along with a coin in the denomination of Rs 150 on the occasion of completion of 150 years of taxation and also of the Income Tax department from 1860 to 2010.
The Rs 5 coin, made of an alloy of Silver, Copper, Nickel and Zinc, has an international design with ‘Satyameva Jayate’ and ‘India’ on the front and a portrait of ‘Chanakya and lotus with honeybee’ on the reverse.
The Rs 150 coins will also be minted in the same fashion but only about 200 coins will be minted and would be available on request at a special price, he said.
Earlier only 100 coins of Rs 5 were planned to be issued but the Central Board of Direct Taxes (CBDT) and the Income Tax department impressed upon the government the need to mint more such coins in public interest, he said.