India is the world’s largest democracy, with a population of over 1.2 billion, but India has a whopping 543 rupee coins in circulation – because the majority of Indians are paid in rupees and we need small change. A single gold coin weighs 8.1 grams (0.00338 troy ounces), which means that an Indian individual would need to spend more than 2 million rupees to purchase one troy ounce of gold; approximately equivalent to $38,000 US dollars at current exchange rate prices. Convert $63.00 to rupees, and you are left with $42.38 in cash – find a bank and write a check for the balance.
India’s 5143 coins include two specific denominations: 5 pence (one-hundredth of a rupee) and 1 rupee (the smallest unit of currency). If you convert 1 dollar to rupee, by modern standards you’ll be left with $0.09, but in India it will be much more than that! The highest denomination coin ever made was the 1 Sikhapahshaha (1 gram gold) which ended circulation in 1959 after only 8 years of production.
10 Mind Numbing Facts About Converting Dollars Into Rupees :
1. The world’s smallest coin is a one-cent piece.
The smallest circulating coin denomination is the American dime – a silver piece the size of the more familiar American quarter. The British 5 pence piece was almost exactly double that size, but to prevent this large coin from being too heavy for vending machines, it was made smaller in 1844, and has been smaller ever since.
It is now only slightly bigger than a United States quarter and weighs 1 gram (29.61 milligrams). In 2013, India released its final 2-rupee coins before withdrawing them from circulation – those 2 rupees weigh 2 grams each!
2. The world’s largest currency bill is the Canadian $100 bill .
The Canadian $100 banknote is the largest currency note in circulation with a face value of $100,000.00 CAD. The $50 banknote is also larger, with a face value of $50,000.00 CAD, and a physical size of 65cm x 109cm (25″ x 43″).
3. The world’s smallest currency bill was created to be used as change for airplane tickets .
The world’s smallest currency bill was created by the Bureau of Engraving and Printing in response to pressure from the Bank for International Settlements (BIS) which wanted to reduce transaction costs related to exchange rates when traveling by air. Released in March of 2013, the Bank of England’s $5 note is 24.26 millimeters tall and about 30% thinner than the face value.
4. The world’s smallest coin has a diameter of 31 mm .
The world’s smallest circulating coin was introduced in 2011 by the Republic of Seychelles and indicated on them as “1 penny”. While sovereign nations can offer large coins as payment, they usually have to accept small change – so rather than converting 1 euro into small Canadian or South African cents, they use small Indian coins instead. The Seychelles 1 penny coin weighs only 37.6 milligrams (0.856 troy ounces), and measures 31 mm across and 3.5 mm thick.
5. The world’s largest coin is a platinum disc of the Australian $1,000 note .
The Australian $1,000 note is traditionally printed in the same woodcut style as Australia’s 1 dollar banknote, but with a much larger size on a flat sheet of paper. When placed next to each other, a sheet of Australian currency would equal four sheets of United States currency – hence why this banknote has the same name as the paper money produced in the USA (USD) and Canada (CAD).
The 1,000 note is the largest denomination in Canada and Australia, and there are plans to introduce the next-largest Canadian banknote: The $10,000 note – so when you pay for things at your bank, you’ll be using currency with a face value of $41,120.22 (the equivalent of four sheets of United States currency).
6. In 2004, for the first time ever, the world’s largest coin was minted in India .
In 2004 India actually produced not one but two new coins. The 2 dollar coin (1 gram gold) weighs 5 grams and measures 53 mm across. It is as thick as a credit card. The 1 rupee coin (1 gram gold) weighs 2 grams and measures 42 mm across. It is as thick as a US penny. These coins are legal tender of the Republic of India, and are in addition to the current five Indian coins that have 54 mm diameter or less (1, 2, 5, 10 and 20 rupees).
7. The world’s oldest coin is the British 1 Penny .
The British 1 Penny coin was first minted in England in 1544 as Shillings for use in continental Europe. The word “shilling” comes from Old Norse meaning “one-twelfth part”. There are 240 pennies to a pound, and 12 pence in a shilling. The American word “dollar” comes from the old currency of Spain (12 silver reales) and the Schillings of Germany.
8. The world’s largest square banknote is the Canadian $1,000 bill .
The Canadian $1,000 banknote is printed on a large square sheet of paper (98 x 158 mm). This allowed any excess notes to be folded easily into smaller sizes. The Bank of England has also released a square-shaped £50 note in 2015, with a face value of £96,072.20.
9. The world’s most valuable coin was paid as a ransom for a king .
The British crown is the only currency that bears an image of the monarch’s head, but that may change if Scotland votes for independence this fall – when the Scottish pound will be re-launched next year bearing an image of the Statue of Liberty on the back and Bonnie Prince Charlie on the front! However, on one occasion in 1204, England paid King John to end his harassment by paying half their kingdom to him. Today, that ransom would be worth over £5 billion.
10. The world’s largest banknote was printed on an old bed sheet before being cut into 2,000 portions .
The largest currency note ever made was a German 1,000,000 mark note printed on an old bed sheet in 1923. It measured 260 cm x 510 cm (8′ 6″ x 16′), and was cut into 2000 pieces using a guillotine!
