Possession of instrument or material for the purpose of using the same for counterfeiting coin: if Indian coin.

Whoever is in possession of any instrument or material, for the purpose of using the same for counterfeiting coin, or knowing or having reason to believe that the same is intended to be used for that purpose, shall be punished with imprisonment of either description for a term which may extend to three years, and shall also be liable to fine; if Indian coin.—and if the coin to be counterfeited is 1 [Indian coin], shall be punished with imprisonment of either description for a term which may extend to ten years, and shall also be liable to fine.