Why RBI Discontinued the Old 5 Rupee Coins?

You might have noticed that the circulation of old Rs 5 coins has reduced drastically and now the old 5 rupee coins are no longer available in the market. The old 5 rupee coin was quite thick. A lot of metal was needed to make it. Here the old coins are called Cupro-Nickel circular coins with 9.00 gms weight. If you check the new Rs 5 coin, you might have felt that it weights less than previously minted coins and thinner also.

The Reason why the RBI Discontinued the Old Rs 5 Coin

The metal used in Rs 5 coin is also used to make blades as well as other products. Therefore, the misuse of these coins had also started. Illegal smuggling of this thick 5 rupee coin was also a concern. Especially in Bangladesh, these coins were melted down to make items like blades from this metal. Six blades were made from one coin, and the profit from it fueled its misuse. When this information came to the Reserve Bank of India (RBI) it immediately took notice and stopped the production of these coins. After that, the coin gradually disappeared from the market.

The New 5 Rupee Coin Does Not Get Used Again for Any Misuse

RBI has made many changes in the minting of new currency. The new currency is getting thinner and bigger than before. For this purpose, the metal used earlier has also been changed, so that it does not get misuse again. Items such as blades cannot be made from new coin materials. Therefore, its smuggling has now stopped. The RBI and the Government of India have ensured that coins are made of metals that are not only financially safe but also safe from any misuse. This will further strengthen the security of the Indian currency.

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