Explore the fascinating history and significance of the 5 Rupees ONGC Anniversary Coin (2006). Learn about its design, mintmarks, and collector value, making it a must-have for coin enthusiasts.
Introduction to the 5 Rupees ONGC Anniversary Coin (2006)
- Overview of the commemorative coin
- Importance of commemorative coins in India
Coin Specifications and Details
- Material Composition
- Stainless steel properties
- Weight and Dimensions
- Weight, diameter, and thickness
- Shape and Appearance
- Round shape and design features
Historical Context of ONGC
- What is ONGC?
- Overview of Oil and Natural Gas Corporation
- The Importance of ONGC in India
- ONGC’s role in India’s energy sector
- 50th Anniversary Significance
- Why the 50th anniversary was commemorated in 2006
Obverse Design of the Coin
- Ashoka Pillar Lion Capitol
- Significance of the national emblem
- Denomination and Lettering
- The “5 Rupees” denomination and inscriptions
- Satyameva Jayate Inscription
- Meaning and importance of “Truth Alone Triumphs”
Reverse Design of the Coin
- ONGC Logo and Sprays
- Design elements on the reverse
- “Celebrating India” Message
- The symbolic meaning of the phrase
- 1956-2006 and the 50th Celebration
- Representation of years and celebration
Minting Information and Mintmarks
- Different Mintmarks Explained
- Calcutta vs. Hyderabad mintmarks
- Frequency and Rarity of Mintmarks
- Rarity and circulation of coins from each mint
Value and Collectibility of the Coin
- Value by Condition
- How condition (VG, F, VF, XF, AU, UNC) affects value
- Frequency and Rarity in the Market
- Availability and demand in the collector’s market
Why Collect the 5 Rupees ONGC Coin?
- Commemorative Value
- The historical significance
- Investment Potential
- Why this coin might increase in value
- Nostalgic and Cultural Importance
- Connection to India’s history and culture
Conclusion
- Recap of key details and final thoughts on the coin’s importance
Frequently Asked Questions (FAQs)
Introduction to the 5 Rupees ONGC Anniversary Coin (2006)
Commemorative coins are not just currency; they are pieces of history, capturing moments of national significance. The 5 Rupees ONGC Anniversary Coin, issued in 2006, is a perfect example of this. Created to mark the 50th anniversary of the Oil and Natural Gas Corporation (ONGC), it celebrates half a century of India’s energy independence and industrial growth. With its unique design and historical background, this coin holds special value for collectors and enthusiasts alike.
Overview of the Commemorative 5 Rupees ONGC Anniversary Coin
The 5 Rupees ONGC Anniversary coin was minted as a circulating commemorative coin, meaning it was not only a collector’s item but also legal tender. It is made of stainless steel, ensuring durability, and features symbolic designs on both sides. On the obverse side, the coin proudly displays the Ashoka Pillar Lion Capitol, India’s national emblem, while the reverse side showcases the ONGC logo along with the years 1956-2006.
Importance of Commemorative 5 Rupees ONGC Anniversary Coins in India
In India, commemorative coins serve as markers of significant historical events, milestones, or achievements. They help preserve the country’s rich cultural heritage and honor institutions or personalities that have played crucial roles in shaping modern India. The 5 Rupees ONGC Anniversary Coin stands out as it highlights ONGC’s pivotal role in India’s journey toward energy self-sufficiency, making it more than just a piece of currency—it’s a symbol of progress and pride.
5 Rupees ONGC Anniversary Coin Specifications and Details
Material Composition
The 5 Rupees ONGC Anniversary Coin (2006) is composed of stainless steel, a material known for its durability and resistance to corrosion. Stainless steel is an ideal choice for circulating coins as it ensures longevity and maintains the coin’s structural integrity even after extended use. This makes the ONGC coin not only valuable from a commemorative perspective but also practical for daily use.
Weight and Dimensions of 5 Rupees ONGC Anniversary
The 5 Rupees ONGC Anniversary coin weighs 6.03 grams, which is fairly standard for Indian coins of this denomination. Its diameter measures 22.8 mm, providing a balanced size that fits well in hand and in circulation. Additionally, the coin has a thickness of 2.13 mm, which adds to its solid feel and durability. These specific dimensions give the 5 Rupees ONGC Anniversary coin a distinct presence, making it easy to recognize.
Shape and Appearance of 5 Rupees ONGC Anniversary
The round shape of the 5 Rupees ONGC Anniversary coin follows the traditional design of Indian currency, offering both simplicity and elegance. The obverse features the national emblem—the Ashoka Pillar Lion Capitol—while the reverse showcases the ONGC logo flanked by sprays, celebrating 50 years of ONGC’s contributions to India’s energy sector. The coin’s security edge adds an extra layer of authenticity and makes counterfeiting difficult.
Historical Context of ONGC
What is ONGC?
The Oil and Natural Gas Corporation (ONGC) is one of India’s largest public sector enterprises, established in 1956. It is a state-owned corporation responsible for the exploration and production of oil and natural gas, vital resources for India’s energy needs. Headquartered in Dehradun, ONGC has played a key role in transforming India from an energy-deficient country into a self-reliant nation in terms of hydrocarbon resources. Over the years, ONGC has expanded its operations both domestically and internationally, contributing significantly to India’s energy security.
The Importance of ONGC in India
ONGC has been a crucial pillar in India’s economic and industrial growth. By providing reliable access to oil and gas, it has fueled industries, generated employment, and driven economic development. The company supplies nearly 70% of India’s crude oil and 84% of its natural gas, making it an indispensable player in the country’s energy sector. ONGC’s vast network of operations has not only stabilized India’s energy requirements but has also enabled the country to reduce its dependence on foreign oil imports.
50th Anniversary Significance
In 2006, ONGC celebrated its 50th anniversary, a landmark moment in its history. The release of the 5 Rupees commemorative coin marked this occasion, honoring ONGC’s contribution to India’s energy independence. The 50th anniversary was an important milestone that recognized ONGC’s achievements, innovation, and impact over five decades. This celebration also symbolized the corporation’s commitment to powering India’s future and its vision for sustainable growth in the energy sector. The coin itself serves as a tribute to ONGC’s half-century of service to the nation.
Obverse Design of the 5 Rupees ONGC Anniversary Coin
Ashoka Pillar Lion Capitol
The Ashoka Pillar Lion Capitol is a symbol of India’s sovereignty and heritage. Featured prominently at the top of the 5 Rupees ONGC Anniversary coin, it serves as a reminder of India’s ancient history and its modern-day aspirations.
Denomination and Lettering
Below the Ashoka pillar, the 5 Rupees ONGC Anniversary coin displays the denomination “5 Rupees” in both Hindi and English. The bilingual inscription ensures that it is accessible to India’s diverse population.
Satyameva Jayate Inscription
The phrase “Satyameva Jayate” (Truth Alone Triumphs) is inscribed under the Ashoka emblem. This timeless slogan embodies India’s moral compass and is taken from the ancient Indian scripture, the Mundaka Upanishad.
Reverse Design of the 5 Rupees ONGC Anniversary Coin
ONGC Logo and Sprays
The reverse side of the 5 Rupees ONGC Anniversary coin features the ONGC logo framed by two sprays, symbolizing growth and prosperity. The logo highlights the organization’s commitment to fueling India’s development.
“Celebrating India” Message
The inscription “Celebrating India” above the ONGC logo adds a patriotic touch. This phrase reflects the pride that ONGC and its employees feel in being part of India’s progress.
1956-2006 and the 50th Celebration
The years 1956-2006 mark ONGC’s journey over five decades. The coin encapsulates this half-century of success and symbolizes the achievements of India’s energy sector.
Minting Information and Mintmarks
Different Mintmarks Explained
The 2006 ONGC coin was minted in two locations, indicated by distinct mintmarks:
- No mintmark: Coins minted in Calcutta.
- Star symbol (*): Coins minted in Hyderabad.
Frequency and Rarity of Mintmarks
Coins minted in Hyderabad (indicated by the star) are generally more common, while those from Calcutta tend to be slightly rarer. However, both types are in circulation and widely available.
Value and Collectibility of the Coin
Value by Condition
The value of the 5 Rupees ONGC coin depends on its condition, graded as follows:
- VG (Very Good): ₹11
- F (Fine): ₹39
- VF (Very Fine): ₹52
- XF (Extra Fine): ₹80
- AU (Almost Uncirculated): ₹80
- UNC (Uncirculated): ₹75
Frequency and Rarity in the Market
Although the coin is common, it holds value due to its historical significance. Collectors actively seek both versions (Calcutta and Hyderabad), and uncirculated coins fetch higher prices.
Why Collect the 5 Rupees ONGC Coin?
Commemorative Value
The 5 Rupees ONGC Anniversary Coin carries immense historical significance as it commemorates the 50th anniversary of the Oil and Natural Gas Corporation (ONGC), one of India’s most critical public sector enterprises. This coin is not just a representation of India’s economic progress but also a symbol of the nation’s journey towards energy independence. For collectors, owning this coin is like holding a piece of India’s industrial history in their hands, making it a valuable addition to any collection of Indian coins or memorabilia.
Investment Potential
Apart from its commemorative value, the ONGC coin also holds investment potential. Coins that mark significant historical events or milestones tend to appreciate over time, especially if they are well-preserved. As the coin becomes rarer, its market demand could rise, particularly for coins in uncirculated or excellent condition. Given that the coin was minted in limited quantities to celebrate ONGC’s 50th anniversary, its value could steadily increase, making it an attractive investment for both new and seasoned coin collectors.
Nostalgic and Cultural Importance
For many, the 5 Rupees ONGC coin serves as a reminder of India’s achievements in the post-independence era, particularly in the energy sector. It holds nostalgic value for those who witnessed ONGC’s rise and its contribution to the nation. Collecting this coin allows individuals to connect with India’s cultural and economic history, serving as a tribute to the country’s perseverance and growth. Its design, featuring both the Ashoka Pillar and ONGC’s logo, embodies the unity of India’s rich heritage and its forward-thinking industrial spirit.
Conclusion
The 5 Rupees ONGC Anniversary Coin (2006) is a testament to India’s journey towards energy independence and the pivotal role played by ONGC. With its beautiful design, rich history, and collectibility, it’s an essential part of any Indian coin collection.
Frequently Asked Questions (FAQs)
What does ONGC stand for?
ONGC stands for Oil and Natural Gas Corporation, a leading energy company in India.
How rare is the 5 Rupees ONGC coin?
The coin is relatively common, but coins minted in Calcutta without a mintmark are slightly rarer.
What are the mintmarks on the ONGC coin?
Coins from Calcutta have no mintmark, while coins from Hyderabad feature a star symbol.
How much is the 2006 ONGC coin worth today?
Depending on the condition, the coin’s value ranges from ₹11 to ₹80.
Why is the ONGC coin important for collectors?
It commemorates 50 years of ONGC, making it historically significant and a sought-after collectible.
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