Opinion : Indian Dealers and Shows

[brokencompass]

I was having a conversation with a friend who lives in India and we were discussing about a MS 65 Tonk anna that sold for $85 in an auction and he was telling me how easy it is to get brilliantly uncirculated coins like the Tonk Anna in India and the $85 is just the NRI price. Is it true that it is very easy to find uncirculated coins easily at coin shows in India? I see in the forum that many visit many coin shows. What is your opinion about what my friend said? Kindly share your thoughts so I know I am not wasting my time and money with something I can get for many folds less if I bought from Indian coin shows and dealers.

Thanks

[paisepagal]

I would have agreed with your friend until 2006... After that, any lustre coin I see, I am weary of now... And in anycase, alot of these dealers put up near rubbish on their tables these days... You have to make a special request and then expect a ludicrous quotation... And finally the bargaining commences; once in awhile is fine... But not everytime 

[brokencompass]

Thanks a lot Paisapagal! Appreciate your feedback.
I had to make sure I wasn't paying exhorbidant amount of money for coins that were available else where at a lower price.

[Coinsforever]

Due to present trends it is becoming sellers (dealers) market not the buyer market in India , even if find any high grade coins there is not much scope for negotiation of price .

Cheers

[Harry]

Although I can't comment on Indian coin shows, I can comment on ann09 point about high grade coins prices being non-negotiable.  I feel that some Indian coins are truly scarce in high grade and dealers and collectors  today are now beginning to recognize that.   My very limited experience with Indian dealers is that they tend to charge a lot more today than what you can get in the US market as the demand for Indian coins is higher in India than outside of India and collectors in India today can afford to pay a higher price.  That's why we see a lot of Indian coins going back home after hundreds of years!  However,  I also hear that its not legal to export/sell coins and notes older than 100 years out of India without RBI's permission,  is this true? If so,  then contrary to my earlier point this will make coins cheaper in India than outside of India, as supply outside of India will dry up and eventually be cut off. Scary thought for collectors like me who live outside of India!

[brokencompass]

According to the Indian Government, when coins older than 100 years are taken out of India, a written persmission should be obtained from the head of Archealogical society of India. But I think that it can be done if someone wants to. I know Steve Album took a boat load of coins from USA to Mumbai for the exhitibition and more impotantly was able to take it back too.

The rising demand for Indian coins everywhere is a scary thought for me because I would not be able to realize my dream of collecting yearwise/ mint wise set of coppers from India...

[Harry]

Thanks for explaining the 100 year export rule.

I feel your pain! BI coins are getting more difficult to obtain especially in high grade due to the increase in demand as more people are interested in collecting Indian coins. However that's a good thing for our hobby collectively. Think about what would happen if the reverse was true. There would be less dealers, fewer collectors, fewer research and over all more gloomy and less fun!