5 naye paise (Indian coin)

The Indian five naye paise (पाँच नए पैसे) (singular: Paisa), was a unit of currency equaling $1/20$ of the Indian rupee. The symbol for paisa is p.

History
Prior to 1957, Indian rupee was not decimalised and the rupee from 1835 to 1957 AD was further divided into 16 annas. Each anna was further divided to four Indian pices and each pice into three Indian pies till 1947 when the pie was demonetized. In 1955, India amended the "Indian Coinage Act" to adopt the metric system for coinage. Paisa coins were introduced in 1957, but from 1957 to 1964 the coin was called "Naya Paisa" (English: New Paisa. Plural: Naye paise). On 1 June 1964, the term "Naya" was dropped and the denomination was simply called "One paisa" (or paise for denomination greater than one). Paisa coins were issued as a part of "The Decimal Series".

Mintage
Five naye paise coins were minted from 1957 to 1963 at the India Government mint in Bombay (present day Mumbai) and borne ⧫ (small dot/diamond) symbol mint mark. Five naye paise coins have been demonetized.

Total mintage
Total 4,294,967,295 coins were minted from 1957 to 1963.

Composition
Five naye paise coins were minted from cupronickel alloy in medallic alignment. Coins weighed 4.0 grams, had a diameter of 22 mm and thickness of 1.67 mm. Five naye paise coins were quadrangular shaped and had smooth edge.