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The manufacturing cost of Indian currency, particularly coins, can sometimes exceed their face value, presenting a unique economic dynamic. This phenomenon is not uncommon globally, as the intrinsic material and production costs for lower denominations can outweigh their transactional worth. The Indian government and the Reserve Bank of India (RBI) manage the production of currency, with the government minting all coins and the RBI printing most banknotes.

Regarding the one-rupee coin, publicly available data from 2018 revealed that its production cost was approximately Rs 1.11, which is more than its face value. This cost includes expenses related to raw materials (such as stainless steel for the coin), labor, machinery, energy, and transportation. While the government has taken steps to mitigate these expenses, such as altering metal compositions and promoting digital payments, the intrinsic cost of minting these coins can still result in a small loss per unit for the government. Higher denomination coins like Rs 2, Rs 5, and Rs 10 also have their own production costs, which in some cases are also close to or slightly above their face value.

Despite the manufacturing cost sometimes exceeding the face value, the production of one-rupee coins, and indeed all denominations, remains essential for daily transactions, traditional practices, and the overall functioning of the economy. The long lifespan of coins compared to banknotes helps to amortize their initial production cost over a longer period, making them a durable and necessary component of the Indian monetary system.