The coins were issued on his death anniversary, which is being observed as "Mahaparinirvan Divas of Babasaheb Ambedkar".
Addressing a gathering at his residence, the Prime Minister said that there were only a few individuals who remain alive in public consciousness, even 60 years after their death.
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The Prime Minister said that while his contributions towards social justice have been recognised, his economic thoughts and vision are still not fully understood, and these need to be appreciated.
Modi said Ambedkar and the Constitution of India should always be discussed and talked about in this country, and the observance of Constitution Day on November 26, was a step in that direction.
He appreciated Ambedkar's vision on subjects such as women empowerment, India's federal structure, finance and education, a press release issued by Prime Minister's Office said.
Finance Minister Arun Jaitley and Social Justice and Empowerment Minister Thawar Chand Gehlot were present on the occasion.
Earlier in the day, Modi paid floral tribute at the Dalit mascot's statue in Parliament House lawns. "Remembering Dr Babasaheb Ambedkar on his Punya Tithi," he posted on Twitter along with a photograph showing him and Ambedkar's statue.
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