“Coin” defined
AI Assist
Summary
Metal is 'coin' only if it is stamped and issued by some State or sovereign authority to be used as money. Metal stamped and issued by the Government of India is 'Indian coin' and remains so for this chapter even if it stops being used as money. Unstamped lumps, medals, or cowries are not coin.
Example
Priya cleans her grandfather's drawer and finds an old Farukhabad rupee that was once issued by the Government of India but is no longer used as money. For purposes of this chapter, that metal is still treated as Indian coin, so the chapter's offences and rules about coin can apply to it.
Bare Act
Enacted textCoin is metal used for the time being as money, and stamped and issued by the authority of some State or Sovereign Power in order to be so used.
Indian coinIndian coin is metal stamped and issued by the authority of the Government of India in order to be used as money; and metal which has been so stamped and issued shall continue to be Indian coin for the purposes of this Chapter, notwithstanding that it may have ceased to be used as money.
Illustrations
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(a) Cowries are not coin.
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(b) Lumps of unstamped copper, though used as money, are not coin.
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(c) Medals are not coin, inasmuch as they are not intended to be used as money.
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(d) The coin denominated as the Company’ rupee is 3Indian coin.
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(e) The “Farukhabad rupee”, which was formerly used as money under the authority of the Government of India, is 3Indian coin although it is no longer so used.
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