New Commemorative Issue: 2015: India-Africa Forum Summit Coins

[devkumar]

One more New coin set is coming on 29th october 2015
It will be first time in india denomination ₹500

[dheer]

Very interesting. Not sure, lets see if we can get this confirmed.

[betterphilately.com]

Gearing up for the India-Africa Summit coin release on 29th October. Here are some design notes for the Rs 500 coin. Also attached is the coin composition for both the denominations (Rs 500 and 10). The coin design describes showing the map outline of South Africa, which indeed is an error. The summit logo clearly shows the map outlines of India and Africa, not South Africa. Happy Collecting.

OBVERSE: The face of the coin shall bear the Lion Capitol of Ashoka Pillar in the centre with the legend "Satyamev Jayate in Hindi" inscribed below, flanked on the left periphery with the word "Bharat in Hindi" in Devanagari script and on the right periphery flanked with the word "INDIA" in English, and it shall also bear the Rupee symbol and denominational value "500" in international numerals below the Lion Capitol.

REVERSE: The face of coin shall bear the face of Lion in the centre and overlapping outline maps of India and South Africa over the face, with inscription "Teesra Bharat-Africa Manch Shikhar Sammelan" in Devanagari script on upper periphery. The lower periphery shall bear the inscription "3RD INDIA - AFRICA FORUM SUMMIT" in English. The year's figure "2015" shall be written below the portrait in international numerals.

[dheer]

It would be amongst a better design to have the l
Logo.
Not very far off, just few more days.

And could as well be of interest to <k> and would go into the thematic logos on coins

[Bimat]

I fail to understand why we are still stuck to Quaternary alloy and not switched to pure silver, like many (in fact most?) countries? The ₹500 coin is anyway going to be surcharged, silver is not much expensive these days too...

Aditya

[dheer]

Well don't give mint's such crazy idea. They may do it and increase the price.

[Bimat]

Well don't give mint's such crazy idea. They may do it and increase the price.

It's not a crazy idea! Just think, you pay approximately ₹4000 for a Quaternary silver coin + a base metal bimetallic of proof quality. It's a rip-off already. They can give the same set with pure silver (current silver price is USD 15.90 per ounce (~₹1000)) for same price and they still make huge profit.

To compare it with EU (because I basically collect euro coins only): This year's Latvian BU set was priced at €15 ~ ₹1100 (Face value: €5.88) and proof set at €45 ~ ₹3200 (Face value: €5.88). And believe me, the quality of Latvian BU coins is better than our proof coins! The situation is more or less similar in other EU countries.

IMO SPMCIL is a government run fraud. Someone should drag them to court!

Aditya

[dheer]

Agreed. However mint's want more profits. The temple coins were of 80% silver and priced around 5k more than other sets

[Bimat]

Vikas Swarup, the official spokesperson of MEA India, just posted these photos on twitter.

Aditya

[dheer]

Yep looks like the photos this time were quite a bit delayed.
Can anyone confirm the mint, is it Mumbai.

[betterphilately.com]

Photos were most likely delayed because the coin and stamp release was during the closing session (see the agenda item below). Still to find a close up of the coins. Hopefully someone will post some images soon.

1710 hrs
Closing Session
Venue: Indira Gandhi Sports Complex
Photo Op: Accredited print media + Accredited still photographers only.

[betterphilately.com]

From what one can make out from the zoomed-in images, it appears to be Kolkata mint. Just a guess

[dheer]

I would guess Mumbai as there are quite a few Kolkata Mint issues already 

[Bimat]

Slightly better image.

Aditya

[betterphilately.com]

Here are the images for the release. Although a good idea, seems a bit unclear after minting.