This large silver coin is one of two commemorative coins -- popularly referred to as the Buddha Jayanthi coins -- that were issued in 1957 to mark the 2500th anniversary of the death of the Buddha in 543 BCE.
The other coin -- a one ruppee piece -- did circulate, but this one did not. In fact, of the half million coins minted, over half of them were melted down five years later. Despite its non-circulating status, this coin gets a place in my Coin Zoo due to its pure magnificence.
The reverse is based on a Anuradhapura era Moon-stone, with a dual procession of elephant, bull, lion, and horse. Toward the outer rim is a procession of sixteen geese with lotus flowers dangling from their beaks.
The obverse is a design based on a lotus flower atop a jasmine flower. Three languages appear, with the denomination in English to the left and Tamil to the right. The third language is Sinhalese: "Sri Lanka" at the top, "Buddha Jayanthi" at the bottom, and the value in the centre.
I obtained the information on this coin from here, except I am agreeing with the Krause catalogue on the obverse designation, since the "obverse" of a coin is defined as the most important side, and in this case that would be the side where the name (Sri Lanka) and the event are named.
All coin images in Daniel's Coin Zoo are from my personal collection. I collect, research, and personally photograph every coin displayed on this site. PLEASE do not take my images without permission. If you would like to use any coin image you see, just ask me. Thank you.