The section expressly provides that coin must be used as money for the time being and it is so used because sanction of the state or sovereign power is behind it in the form that it is so stamped and issued by its authority. If it is not in use for the time being as money, it is not a coin within the meaning of this section. Consequently, old coins of historical interest are not coins as these are not used for the time being as money.
The section further says that Indian Coin is that metal which is stamped and issued by the authority of the Government of India in order to be used as money; and metal so stamped and issued continues to be coin within the meaning of this chapter as part of the Indian Penal Code even if it is no longer used as money.
The illustrations illustrate the definitions very well. Illustration (e) was added by the Indian Penal Code (Amendment) Act, 1896.
It is not necessary that coin has to be a legal tender receivable at a value in rupees fixed by law. Gold mohurs do not pass at a fixed value and yet they have a current value not only because of the gold content in them but attaching to them as coin, and so are coins ‘for the time being used as money’ as mentioned in the definition.