Discover the hidden value of the 5 Rupees State Bank of India Commemorative Coin (2006). Learn about its history, design, and market worth, making it a must-have for collectors.
Introduction to the 5 Rupees State Bank of India Commemorative Coin
- Brief Overview of the Coin
- Importance of Commemorative Coins in India
General Specifications of the Coin
- Composition and Material
- Weight, Diameter, and Shape
- Date of Issue
The Obverse Side of the Coin
- Description of the Ashoka Pillar
- Historical Importance of the Ashoka Pillar Lion Capitol
- Denomination and Lettering
- Symbolism of “भारत INDIA” and “सत्यमेव जयते”
The Reverse Side of the Coin
- State Bank of India Logo and Its Significance
- Leaf Motif
- Symbolism of the Leaves on the Reverse
- Inscription and Dates
- The Commemoration of 200 Years (1806-2006)
Edge Design and Security Features
- The Role of the Security Edge
- How Edge Design Prevents Counterfeiting
Historical Context of the 200th Anniversary of SBI
- The Founding of the State Bank of India in 1806
- Early Beginnings as the Bank of Calcutta
- Evolution of SBI Over 200 Years
- Milestones in SBI’s Growth
Collectibility and Value of the 2006 SBI Coin
- Rarity and Mint Locations
- Coins from the Calcutta Mint
- Coins from the Hyderabad Mint
- Market Value of the Coin
- Breakdown of Value by Condition (VG, F, VF, XF, AU, UNC)
- Current Market Trends
Why Coin Collectors Seek the 5 Rupees SBI Coin
- Sentimental and Historical Value
- Rarity and Frequency of the Coin
The Legacy of Commemorative Coins in India
- Importance of Preserving History through Coins
- Other Notable Commemorative Coins in Indian History
Tips for Coin Collectors
- How to Authenticate Commemorative Coins
- Proper Care and Storage Techniques
Conclusion
FAQs
5 Rupees State Bank of India Commemorative Coin (2006)
Introduction to the 5 Rupees State Bank of India Commemorative Coin
Commemorative coins serve as historical markers, preserving significant events, institutions, or people in a tangible form. The 5 Rupees State Bank of India Commemorative Coin, released in 2006, is a prime example. Issued to celebrate the 200th anniversary of the State Bank of India (SBI), this coin not only functions as legal tender but also as a cherished collectible that reflects the legacy of one of India’s oldest financial institutions.
Brief Overview of the Coin
This special 5 Rupees State Bank of India coin is made from stainless steel, weighs 6 grams, and measures 23 mm in diameter. The coin features unique designs on both its obverse and reverse sides, with the Ashoka Pillar Lion Capitol on the front and the SBI logo flanked by leaves on the back. It was issued from both the Hyderabad and Calcutta mints, with each version having distinct collector value.
Importance of Commemorative Coins in India
In India, commemorative coins hold significant cultural and historical importance. These coins not only celebrate milestones but also preserve the nation’s history in a form accessible to the public. Over the years, India has issued numerous commemorative coins to mark important events, people, and institutions. The 5 Rupees State Bank of India coin is a symbol of the evolution of India’s banking system and the monumental role that SBI has played over two centuries in shaping the country’s financial landscape.
General Specifications of the Coin
The 5 Rupees State Bank of India Commemorative Coin (2006) stands out for its unique design and detailed specifications. Here’s a closer look at its physical characteristics:
Composition and Material
The 5 Rupees State Bank of India coin is composed of stainless steel, a material chosen for its durability and resistance to corrosion. This makes the coin ideal for circulation, ensuring it can withstand daily use without losing its shine or structural integrity.
Weight, Diameter, and Shape
- Weight: The coin weighs 6 grams, making it relatively light and easy to handle.
- Diameter: It has a diameter of 23 mm, which fits comfortably in the palm and is similar in size to other Indian coins.
- Shape: The coin is round, adhering to the traditional shape for most Indian currency coins.
Date of Issue
This commemorative 5 Rupees State Bank of India coin was issued in 2006 to mark the 200th anniversary of the State Bank of India. It was minted at two locations: Hyderabad and Calcutta, with slight variations in minting quantities, making some versions rarer than others.
The Obverse Side of the Coin
The obverse side of the 5 Rupees State Bank of India Commemorative Coin is adorned with significant national symbols that reflect India’s rich cultural heritage and values.
Description of the Ashoka Pillar
At the center of the obverse side, you will find the iconic Ashoka Pillar Lion Capitol. This emblem, adopted from the ancient Mauryan Empire, is a powerful symbol of strength, unity, and sovereignty. The Lion Capitol is part of the national emblem of India and represents the country’s enduring commitment to peace and progress.
Historical Importance of the Ashoka Pillar Lion Capitol
The Ashoka Pillar was originally erected by Emperor Ashoka in the 3rd century BCE to symbolize the spread of Buddhism and his governance based on moral values. Over time, the four lions standing back-to-back atop the pillar became a symbol of India’s government and authority, representing power and confidence. Its presence on the coin highlights India’s historical depth and the country’s principles of non-violence and justice.
Denomination and Lettering
The 5 Rupees State Bank of India coin prominently features the denomination, 5 Rupees, below the Ashoka Pillar, making it clear that this is a functioning piece of currency. Surrounding the emblem are inscriptions that carry deep meaning.
Symbolism of “भारत INDIA” and “सत्यमेव जयते“
The inscription “भारत INDIA” reflects the country’s identity, showcasing the coin’s dual-language representation in both Hindi and English. This is a nod to India’s linguistic diversity and its inclusive nature.
“सत्यमेव जयते” (Truth Alone Triumphs) is India’s national motto and appears beneath the Ashoka Pillar. It originates from the Mundaka Upanishad, an ancient Hindu scripture. This phrase embodies the value of truth and integrity, reinforcing the moral foundation upon which India was built. Its inclusion on the coin serves as a constant reminder of the nation’s guiding principles.
The Reverse Side of the Coin
The reverse side of the 5 Rupees State Bank of India Commemorative Coin is rich in symbolism, celebrating the long and influential history of the State Bank of India (SBI).
State Bank of India Logo and Its Significance
At the heart of the reverse side is the SBI logo, a symbol of trust, stability, and growth. The logo is a simple yet meaningful design, featuring a small circle at the center of a larger one, often interpreted as a keyhole. This imagery represents the bank’s role as a “safe keeper” of the nation’s wealth and a gateway to financial security for millions of Indians.
The logo’s minimalist design is a reflection of SBI’s values of simplicity and accessibility, showing that the bank is a vital institution for both the common man and the larger economy. As one of India’s largest and oldest banks, this symbol resonates deeply with those familiar with the institution’s pivotal role in shaping India’s banking sector.
Leaf Motif
Flanking the SBI logo on both sides is a leaf motif, adding a touch of elegance to the coin’s design.
Symbolism of the Leaves on the Reverse
The leaves symbolize growth, prosperity, and renewal, concepts that align with SBI’s mission to foster economic growth and empower the people of India. Just as leaves thrive and provide life, the bank has supported the livelihoods of millions by offering financial services and fostering economic development. This motif serves as a metaphor for the bank’s enduring vitality and continued growth over its 200-year history.
Inscription and Dates
Above the logo, the inscription “भारतीय स्टेट बैंक” (State Bank of India) is prominently featured in Hindi, with “STATE BANK OF INDIA” written in English beneath the logo. This bilingual representation underscores the national and international scope of the bank’s operations.
The Commemoration of 200 Years (1806-2006)
At the bottom of the reverse side 5 Rupees State Bank of India coin, the dates 1806-2006 commemorate 200 years of the State Bank of India. Originally established as the Bank of Calcutta in 1806, it has evolved into the SBI we know today. The dates serve as a tribute to SBI’s rich history, recognizing two centuries of growth, resilience, and service to the nation. The coin honors this remarkable journey, marking SBI’s contributions to India’s financial landscape over the course of its 200-year existence.
Edge Design and Security Features
The Role of the Security Edge
The security edge of the 5 Rupees State Bank of India coin ensures authenticity and protects against counterfeiting, making the coin not only valuable for collectors but also secure for circulation.
Historical Context of the 200th Anniversary of SBI
The Founding of the State Bank of India in 1806
The journey of SBI began in 1806 when the Bank of Calcutta was established. Over time, it evolved into the State Bank of India, becoming an essential part of India’s financial framework.
Evolution of SBI Over 200 Years
SBI’s transformation over two centuries has been remarkable, from being a colonial bank to becoming the banking giant that serves millions of Indians today. The coin celebrates this rich history.
Collectibility and Value of the 2006 SBI Coin
Rarity and Mint Locations
The 5 Rupees State Bank of India coin was minted at both the Calcutta and Hyderabad mints. The ones from Hyderabad are slightly more common, making the Calcutta mint versions rarer and more sought after.
Market Value of the Coin
The value of the 5 Rupees State Bank of India coin varies based on its condition:
- Very Good (VG): ₹5.60
- Fine (F): ₹33
- Very Fine (VF): ₹46
- Extremely Fine (XF): ₹46
- About Uncirculated (AU): ₹52
- Uncirculated (UNC): ₹60
Why Coin Collectors Seek the 5 Rupees SBI Coin
Sentimental and Historical Value
For collectors, the 2006 SBI commemorative coin holds not just monetary value but also immense historical significance, representing the evolution of India’s banking system.
Rarity and Frequency of the Coin
Given that 5 Rupees State Bank of India coins from certain mints are rarer than others, collectors are keen to add both varieties to their collections.
The Legacy of Commemorative Coins in India
Commemorative coins like this serve as reminders of the nation’s history. India has a rich tradition of issuing coins that mark significant events, and the 5 Rupees State Bank of India coin is a proud addition to this legacy
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Tips for Coin Collectors
How to Authenticate Commemorative Coins
Ensuring a coin is authentic is key for any collector. Look for specific features, such as the mint mark, the security edge, and the precise design details that distinguish a genuine coin from counterfeits.
Proper Care and Storage Techniques
To maintain the coin’s value, it’s important to store it in a protective casing, away from moisture and direct sunlight, ensuring the stainless steel does not tarnish over time.
Conclusion
The 5 Rupees State Bank of India Commemorative Coin stands as a tribute to India’s rich banking history. Its detailed design, historical significance, and value as a collector’s item make it a prized possession. Whether you’re a seasoned coin collector or a casual hobbyist, this coin captures a significant piece of India’s financial legacy.
FAQs
1. What is the composition of the 5 Rupees SBI Commemorative Coin?
The coin is made of stainless steel.
2. How rare is the 5 Rupees SBI coin?
The rarity depends on the mint. Coins from the Calcutta mint are rarer than those from Hyderabad.
3. Where can I buy the 2006 SBI commemorative coin?
You can find this coin on online marketplaces, coin collector websites, or at numismatic exhibitions.
4. What is the current market value of the 5 Rupees SBI coin?
The market value ranges from ₹5.60 to ₹60, depending on the coin’s condition.
5. What are the unique features of the coin’s design?
The coin features the Ashoka Pillar Lion Capitol on the obverse and the SBI logo flanked by leaves on the reverse, with inscriptions commemorating the bank’s 200th anniversary.
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