India became independent on 15 August 1947 and was left with a legacy of non-decimal coinage. One rupee was divided into 16 annas or 64 pice, and each Anna was equal to 4 pice. In 1957, India shifted to the decimal system, but for a short period both decimal and non-decimal coins were in circulation. To distinguish between the two, the coins minted between 1957 and 1964 have the legend "Naya Paisa" ("new" paisa). The denominations in circulation were 1, 2, 5, 10, 20, 25, 50 paise and 1 Rupee. August 15 is the 227th day of the year in the Gregorian Calendar (228th in leap years), with 138 days remaining. ... 1947 (MCMXLVII) was a common year starting on Wednesday (link will take you to calendar). ... The history of Indian coinage stretches back at least 2600 years. ...

The word "naya" was dropped in 1964. In this year a new denomination the 3 paise was introduced and in 1968 a 20 paise coin was minted Both these coins however did not gain much popularity. The 1, 2 and 3 paise coins were phased out gradually in the 1970s.

In 1982 a new coin, 2 Rupees, was introduced as an experiment to replace 2 rupee notes. The 2 rupee coin was not minted again till 1990, after which it was minted every year.

Stainless steel coinage of 10, 25 and 50 paise, was introduced in 1988 and in 1992, a new rupee coin was minted. This coin was smaller and lighter than the older rupee and was also made of stainless steel.

India issues several types of coins. Commemorative coins in various denominations have been issued, including those celebrating Mahatma Gandhi, Jawaharlal Nehru, Indira Gandhi, B. R. Ambedkar, Rajiv Gandhi, Dnyaneshwar, 1982-Asian Games, Sardar Vallabhbhai Patel, Subhash Chandra Bose, Sri Aurobindo, Chittaranjan Das, and Chhatrapati Shivaji. Mohandas Karamchand Gandhi (October 2, 1869–January 30, 1948) (Devanagari, Hindi: मोहनदास करमचन्द गांधी,Gujarati:મોહનદાસ કરમચંદ ગાંધી) was the spiritual and political leader of India who led the struggle for Indias independence from the British Empire, empowered by tens of millions of Indians. ... Jawaharlal Nehru (जवाहरलाल नेहरू, Javāharlāl Nehrū) (November 14, 1889 – May 27, 1964), also called Pandit (Scholar, Teacher) Nehru, was one of the most important leaders of the Indian Independence Movement and the Indian National Congress... Indira Priyadarshini Gandhi (इन्दिरा प्रियदर्शिनी गान्धी) (November 19, 1917 – October 31, 1984) was Prime Minister of India from January 19, 1966 to March 24, 1977, and from January 14, 1980 until her assassination in 1984. ... Bhimrao Ramji Ambedkar (April 14, 1891 - December 6, 1956) was the most prominent Indian Untouchable leader of the 20th century. ... Rajiv Gandhi (राजीव गान्धी) (August 20, 1944 – May 21, 1991), the first son of Indira and Feroze Gandhi, was the Prime Minister of India from his mothers death on October 31, 1984 until his resignation on December 2, 1989 following a general election defeat. ... Dnyaneshwar (1275-1296) was a Hindu saint and poet who lived in Alandi Maharashtra, India at the end of the thirteenth century. ... The Asian Games, also called the Asiad, is a multi-sport event held every four years among athletes from all over Asia. ... Sardar Vallabhbhai Patel was Deputy Prime Minister of India till his death in 1950 Vallabhbhai Jhaverbhai Patel (October 31, 1875–December 15, 1950), popularly referred to as Sardar Patel (Sardar stands for Chief or Leader), was an Indian statesman, core leader of the Indian Independence Movement and of the Indian... Netaji - Subhash Chandra Bose Subhash Chandra Bose (Bangla: সুভাষ চন্দ্র বসু) (January 23, 1897–August 18, 1945note) also known as Netaji, was a prominent leader of the Indian independence movement against the authoritarian British Raj. ... Sri Aurobindo Sri Aurobindo (Bangla: শ্রী অরবিন্দ) (August 15, 1872–December 5, 1950) was an Indian nationalist, scholar, poet, Hindu mystic, evolutionary philosopher, yogi and guru. ... Chittaranjan Das(C.R.Das) (Bangla: চিত্তরঞ্জন দাস), popularly called Deshbandhu) (November 25, 1870 - June 16, 1925) was a Bengali lawyer and a major figure in the Indian independence movement. ... This article needs cleanup. ...

The denominations in circulation currently are 25 and 50 paise and 1, 2 and 5 rupee coins.