5 Rupee Coin: For your information, the retail coin of 5 rupees is still in circulation. But its thickness has reduced a lot. Have you seen where the fat Rs 5 coin has gone? The Reserve Bank has closed it. The reason for this is also very interesting. This action was taken to stop smuggling of thick Rs 5 coin. Criminals used to make goods worth twelve rupees from five rupee coins and sell them.

The old Rs 5 coins were much thicker and made from more metal. Both the coin and the razor blade are made from the same metal. So people started taking advantage of it, which ultimately led to the closure of this coin.

Illegal trade in old coins

In fact, due to excess metal, these five rupee coins started being sent illegally to Bangladesh. There, these coins were melted down and their metal was used to make blades. You will be surprised that one coin could make six blades and one blade was bought for two rupees. In this way a blade of Rs 12 could be made by melting a five rupee coin.

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RBI took the decision after getting wind of it

The Reserve Bank of India made the Rs 5 coins thinner than before when these coins suddenly started becoming less in the market. The metal used to make the coin was also changed, so that Bangladeshis could not make it into a blade.

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Surface value and metal value are two methods. Which determine the price of any coin. The value written on the coin is the surface value. At the same time, there is the cost of the metal used to make the coin. When old Rs 5 coin was melted, the metal value was higher than the surface value. Criminals and smugglers took huge advantage of this.

Superfast News Coverage By YuvaPatrkaar.com Team

Publish Date: January 11, 2024

Posted By Sunil

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