A Diwali silver coin is a small piece of silver stamped with Lakshmi, the goddess of wealth, often with Ganesh beside her, bought around Dhanteras and kept for Lakshmi Puja. Most of these pieces are not coins in the legal sense. They are rounds or medallions with no face value, sold by weight and purity, and what separates one from another is the silver inside it, how that silver is marked, and who made it.
In 2026, Diwali falls on Sunday, November 8, the date on the Government of India's central-government holiday list. Exact Dhanteras and puja timings vary by location, and a local temple calendar gives the times for your city.
Why Silver Is Bought for Diwali
Dhanteras opens the Diwali festival days, and buying precious metal on it is a long-standing custom tied to auspiciousness. Business Standard describes Dhanteras as India's biggest gold-buying day, and its 2025 report noted that silver also saw stronger demand as a lower-cost alternative to gold.
Lakshmi is the reason the metal carries her image. The Royal Mint's guide to Lakshmi describes Diwali as the main religious festival dedicated to her, and notes that Hindus often buy a gold coin or bar on Diwali or at Lakshmi Puja. Silver pieces carry the same imagery at a lower cost per piece.
How Lakshmi and Ganesh Appear on the Design
Lakshmi is commonly shown seated on a fully opened lotus, holding an overflowing pot of gold and flanked by two white elephants, as the Royal Mint describes her. When she is shown with four hands, the Royal Mint adds, two hold a conch and a lotus while the other two shower gold coins. A small silver piece has to fit some version of that scene onto a much smaller surface.
Ganesh is the elephant-headed god people honor for luck and when they begin something new, as the Seattle Art Museum describes him. On Diwali pieces the two often appear together. The Perth Mint's Diwali 1oz Silver Medallion portrays Lakshmi and Ganesh on its reverse, with a rangoli-inspired pattern of diya lamps and lotus flowers on the obverse.
The names are spelled several ways in English. Lakshmi and Laxmi are the same goddess, and Ganesh and Ganesha are the same god, so listings for a "Ganesh silver coin", a "Laxmi Ganesh coin" and a "Lakshmi Ganesha round" may all describe the same kind of design.
Coin, Round or Medallion?
In the strict sense, a coin is issued by a government and carries a face value. Most Diwali pieces come from refiners and private mints, which makes them rounds or medallions, whatever the listing calls them. The Perth Mint names its Lakshmi and Ganesh piece a medallion. MMTC-PAMP, the Indian refiner, sells a Ganesh Laxmi silver coin at 999.9 purity, and its listing gives the denomination in grams rather than as a face value.
The distinction matters less for puja than for pricing. A sovereign coin's specifications are set by the government that issues it, while a round's rest on the name of its maker. Our guide to silver rounds versus government coins explains where the premium on each one comes from.
Purity and Weight: Reading the Numbers
Silver purity is stated in parts per thousand. A piece marked 999 or 999.9 is fine silver, and sterling is 925. In the US, the FTC's Jewelry Guides say "sterling" should be used only for metal that is at least 925/1,000ths pure silver, and that the unqualified word "silver" should be preceded by a fineness number such as "750 silver".
Pieces made for the Indian market are sold by the gram. MMTC-PAMP offers its Ganesh Laxmi coin in 10 g, 20 g, 50 g and 100 g weights, while US bullion is sold by the troy ounce, which is 31.1034768 grams. The table converts common gram sizes into troy ounces of pure silver at the two purities you will see most often.
| Piece weight | Troy ounces (gross) | Pure silver at 999 | Pure silver at 925 |
|---|---|---|---|
| 10 g | 0.3215 oz | 0.3212 oz | 0.2974 oz |
| 20 g | 0.6430 oz | 0.6424 oz | 0.5948 oz |
| 50 g | 1.6075 oz | 1.6059 oz | 1.4870 oz |
| 100 g | 3.2151 oz | 3.2119 oz | 2.9739 oz |
| 1 troy oz (31.10 g) | 1.0000 oz | 0.9990 oz | 0.9250 oz |
Figures are troy ounces, rounded to four decimal places. Multiply the pure-silver figure by the day's spot price to see the metal value of a piece.
Gilding changes the look, not the specification. The Perth Mint's Diwali medallion adds 24-carat gold gilding to selected elements, including the deities' headdresses and neckpieces, but the piece is specified as one troy ounce of 99.99% silver. On a gilded or colored piece, the metal you can weigh and test is the silver.
What the Price of a Diwali Piece Pays For
The price of a Diwali piece has two parts: the silver it contains, and everything else. Everything else covers design, die work, minting, packaging and the seller's margin. Fixed costs such as dies and packaging are spread over less metal on a small piece, so the premium per gram is usually higher on a 10 g piece than on a one-ounce round.
That second part is worth understanding before buying, because it is the part nobody can measure later. When a piece is sold, its silver content can be tested and weighed, while the design premium was part of the original purchase. A piece from a named refiner, with its weight and purity marked, is easier to evaluate than an unmarked one.
Caring for a Piece Used in Puja
Silver tarnishes as it reacts with sulfur in the air, so a piece handled during puja year after year will darken. For a piece kept for devotion, that patina does no harm. If you may one day sell it, avoid abrasive polishes, which remove metal and leave fine scratches; our article on milk spots, toning and patina explains how surface changes affect resale.
A capsule sized to the piece protects it between festivals. Our guide to coin capsules, flips, tubes and albums covers which holder suits which piece, and our supplies page lists the capsules we carry.
Silver for Dhanteras at Stout Gold & Silver
For Dhanteras silver, our bullion catalog carries silver rounds, government coins and bars, and online orders over $199.99 ship free.
If you already own Diwali silver and want to know what it contains, we test precious metals with XRF, ultrasound and specific-gravity methods, and we buy silver through our sell to us service. Walk-ins are always welcome, and appointments take priority. Stout Gold & Silver has been family owned and operated in the Texas Panhandle since 1986, and Brett and Hannah Stout are the owners.
This article is educational and reflects general information about precious metals and collectible coins. It is not investment, tax or legal advice, and Stout Gold & Silver is not a registered investment adviser, broker-dealer or tax professional. Metal prices fluctuate and past performance does not indicate future results. Consult a qualified professional about your own situation.
Frequently Asked Questions
What is a Lakshmi silver coin?
A Lakshmi silver coin is a silver piece bearing the image of Lakshmi, the goddess of wealth, made for Diwali and Lakshmi Puja. Most are rounds or medallions from refiners and private mints rather than government coins, and they are sold by weight and purity. Check the purity mark, such as 999 or 925, and the maker's name before buying.
Are Laxmi Ganesh silver coins pure silver?
Not always. MMTC-PAMP lists its Ganesh Lakshmi pieces at 999.9, and the Perth Mint's Diwali medallion is 99.99% silver. Other pieces are sterling, which is 925 parts per thousand, and some are gilded or colored. In the US, the FTC's Jewelry Guides say the word "silver" should come with a fineness number, so look for one on the piece or the listing.
Is a Diwali silver coin legal tender?
Usually not. A legal-tender coin is issued by a government and carries a face value. Most Lakshmi and Ganesh pieces are made by refiners or private mints and have no face value, which makes them rounds or medallions. The Perth Mint, for example, calls its Lakshmi and Ganesh piece a medallion, and MMTC-PAMP's listing gives its piece's denomination in grams, not as a face value.
How much silver is in a 10 g Lakshmi coin?
A 10 g piece weighs 0.3215 troy ounces. At 999 fineness it contains about 0.3212 troy ounces of pure silver, and at 925 it contains about 0.2974. Multiply that figure by the day's spot price to see the metal value. The price of the piece also includes design, minting and packaging costs and the seller's margin.
Can Stout Gold & Silver check a Lakshmi silver coin I already own?
Yes. We test precious metals with XRF, ultrasound and specific-gravity methods, so a Lakshmi or Ganesh piece can be checked for the silver it contains. We also carry silver rounds, government coins and bars, plus capsules for storing a piece you already own, and we buy silver at our Amarillo shop, open Monday through Friday.
Visit Stout Gold & Silver in Amarillo
Have a Diwali piece you want to understand, or looking for plain silver for Dhanteras? Call us or stop by during weekday hours.
Stout Gold & Silver
2300 SW 7th Ave Ste 105
Amarillo, TX 79106
(806) 374-8698
Monday-Friday: 10am-4pm
Saturday-Sunday: Closed
