Coinage Act, 2011

14. Prohibition and penalty for unlawful making, issue or possession of pieces of metal to be used as money.-

1.   No person shall

a.   make or issue or attempt to issue any metal piece except as provided under section 4 for the purpose of coin;

b.   Possess custody or control of any metal piece with the intent to issue the piece for use as money for a medium of exchange.

2.   Whoever contravenes the provisions of sub-section (1) shall be punishable with imprisonment which may extend to one year or with fine or with both:

Provided that if any person convicted under this section is again convicted, he shall be punishable with imprisonment which may extend to three years or with fine or with both.