Today when we pay cash for goods and services we are probably not aware of more than Two Thousand year old history of coins.
As early as in the 7th century before Christ, the ancient Babylonians used metal money of copper and later of bronze in the form of a duck. However, this money was heavy and unmanageable. Only the small metal coins of the lydans one century later - substantially facilitated the exchange, purchase and sale of goods for the first time. As a result, trade began flourishing as never before. The new coins were rapidly brought into circulation, and were very quickly imitated by others.
The history of paper money is considerably shorter. Most probably,paper money was first produced in China paper money was first produced in China in 618-917 A.D., but in Europe the first banknotes were possibly not issued by the Stockholm Bank until 1661. The newly founded Bank of England issued banknotes in 1694 and the French State Bank sometime later. They were followed by numerous other slip banks, so called because of the issue of money slips.
of the issue of money slips. Payment by cash was, and still is, the easiest and most convenient way of setting purchases in everyday life. All cashless modes of payment in use today are, however, complicated and require, particularly from the beneficiary a considerable expenditure in consequent work. It is anticipated therefore, that coins and notes will retain their position in payment transactions well into the future.
Coins are reflections of history! The study of coins, also called numismatics, has been crucial in deciphering history. The study of ancient and medieval coinage have authenticated historical events known from literature, artifacts and archaeological findings. Indeed, the history of the Indian subcontinent and its coinage share the complexities as evident in presence of hundreds of dynasties and their attempt to issue distinct coinage over thousands of years. Paradoxically, this very facet made the study of Indian history and numismatics an interesting but challenging proposition. It is very difficult to know today where the concept of coinage first evolved, but based on available evidences, it appears that the concept of money (as coins, which by definition here would be a piece of metal of defined weight stamped with symbol of authority for financial transaction), was conceived by three different civilizations independently and almost simultaneously. It is beyond doubt that the first coins of India were minted just before 5th century BC in Madhyadesha i.e. central India. The earliest coins of India are commonly known as punch-marked coins. As the name suggests, these coins bear the symbols of various types, punched on pieces of silver of specific weight.
For every day use, modern coinage is based on non-precious metals such as copper, nickel, zinc, iron and aluminium, with a preference being given to copper alloys.
despite enthusiasm for progress, changes in the coinage field take place only very slowly, even if considerations of cost favour the use of cheaper materials.
nickel is the most noble coinage material among non-precious metals. Its white, bluish tinged colour, its typical striking gloss and where resistance are unequalled by any other metal or alloy except previous metals.
the standard cupronickel alloy containing 75% cu and 25% ni is considerably cheaper than pure nickel, but he where and the corrosion resistance are still very acceptable. Cupronickel lends itself very well to striking is of light white colour and provides a good feel.
for both technical and economical reasons, cupronickel containing 84% cu and 16% ni has been used for some years. Its colour is rather yellowish-white. In some instances, variants with only 8 10% ni are used and with this alloy the colour can be described as reddish-white.
Further combinations are available on request. For example, all white parts on request. For example, all white parts can also be produced in pure nickel or can also be produced in pure nickel or nickel-resp. cupro-nickel-clad steel. nickel-resp. cupro-nickel-clad steel.
Equally, gold coloured parts are Equally, gold coloured parts are possible in brass-clad steel and reddish possible in brass-clad steel and reddish parts in copper-clad steel, with all parts in copper-clad steel, with all edges covered in each instance. Also, edges covered in each instance. Also, in order to achieve specific and unique in order to achieve specific and unique properties for vending machines, one or both components could be of the Magnimat type of sophisticated clad metal. The following working method is considered to represent optimal technology and economy, having its roots in the classical method of joining by rivetting.
The brass strips form a wide product range of 3C. They are produced in high quality for universal application to satisfy the strictest requirements of customers. The raw material for the manufacturing is a cast strip, made by modern continuous crystallization process. These strips have good cold-workability that makes possible intensive and easy blanking.Annealed materials can be easily deep-drawn. Fields of application are electronics, lighting technics, metal decoration material industry, vehicle industry, production of household items. Special hard grades are used as spring switch parts. The grades with homogenous structure are used for manufacturing components for refrigerating industry. The strips can be easily polished. After special heat treatment to control the grain size, the materials are suitable for multi-grade cold drawing of high level. Soft qualities can be delivered with pickled surface too. The excellent surface quality is guaranteed by the special technology (multi-step surface processing, bright annealing) developed by 3C. Good flatness and trueness to shape is characteristic for the material. for special request tensile levelling is increasing the trueness to shape under 1 mm thickness.
Most of the properties demanded of a coin must already be present in the initial coin blank when it is ready for striking. The very narrow tolerances in the chemical composition of previous metals must also be applied to coin blanks as a security against fraud. Moreover, the demand for minimum deviations from the legally established piece weight must be established, since only a uniform coin blanks volume ensures a smooth operation of automatic minting presses, whereas precious metals are still classified by weight to guarantee the required tolerance, the production of nonprecious metals on an industrial scale must exclusively rely on suitable production processes. Weight deviations of cut blanks are mainly dependent on the variation in the thickness of the final strip used to make the blank. Besides of the single piece-weight tolerance, the average weight deviation of a batch of coins plays a predominant role in transactions. Therefore, an even narrower mixed weight tolerance of, for instance, a lot of 300 pieces is regularly specified. During the final rolling operation of the coinage strip not only is it necessary to control variations within the strip, but it is also necessary to ensure consideration is given to the nominal weight tolerance to make sure the mixed lot tolerance is not exceeded.
Nickel Sliver Strips
- Because of their high strength, corrosion resistance and other excellent mechanical properties the nickel silver strips are suitable for wide range of applications. They are mainly used in electro techniques, electronics, telecommunication and light techniques, food industry and instrument production. Each hard grade of them are excellently suitable to produce springs. They are used for Coin production and as household items. The Nickel-Silver Strips can be easily and intensively cold-worked, blanked and deep-drawn. These strips are produced on up-to-date continuous casting equipment and high precision rolling mills.
Phosphorus Bronze Strips
- Phosphor Bronzes find wide applications in the electrical and electronic industry. They have excellent cold workability and relatively high strength and adequate electrical conductivity. Their fatigue strengths are high enough to make them suitable for application where repetitive actions stress the components, as in fasteners, electrical connectors, springs, electrical switches and similar products. Phosphor Bronzes are known to have the highest electrical conductivity, highest strength and best retention of strength at the component operating temperature, and ease and consistency of form ability to components.
- The Cupro-Nickel Strips are special products of 3C mainly for Coin production. They can be excellently used for decoration, bijou and jewellery production and for manufacturing of ornamental materials. 3C manufactures these strips by up-to-date horizontal crystallization technology, for the cold reduction modern roll stands are used. These strips have good cold workability that makes possible easy bending and blanking. For soft grades up to 1 mm thickness strips with excellent flatness and trueness to shape can be manufactured using tensile leveling.
To,Consolidated Coin Company Private Limited