Author Topic: Significance of Insets and Rupee Symbol  (Read 1372 times)

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Offline aarkay

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Significance of Insets and Rupee Symbol
« on: October 21, 2012, 05:57:35 PM »
Hi…

Being an absolute novice in coin/note collecting would request an explanation in a nutshell the significance of inset and prefix in notes…also with without ₹ symbol…why some insets are more sought after than others….why sometimes notes without prefix/insets are more valuable…also with or without Rupee symbol….if my question sounds very ordinary my apologies….thanks in advance for your valuable comments….

Aarkay
« Last Edit: October 21, 2012, 06:49:45 PM by aarkay »
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Offline dheer

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Re: Significance of Insets and Rupee Symbol
« Reply #1 on: October 21, 2012, 06:49:41 PM »
Every Note issued one should be able to uniquely identify ... so to that extent Serial Number achieves this, however if you run out of serial numbers, you can play around with small design changes [take a close look at older notes, with satyamo without satyamo] ... of course change in Governors always means that they can restart the numbers ...

Devised quite early one way was to have different Insets in the number panel, these give the needed uniqueness to the notes printed early on ... however towards 2005, with the amount of notes being printed grew, another identifier on the back, the year of printing was introduced to make it unique ...

The Rupee Symbol was introduced from 2011, however the old plates / design are existing, hence during a conversation of 2011, or 2012, one always adds with or without rupee ... to identify the note being talked about ...

The Prefix on the other hand is the alphabet used before the 6 digit number. In the older notes as the amount of currency printed was less, one would get into prefixes [its like one has collected everything thing and still has money] ... in today's currency the prefix is of no significance ... the number of prefixes is almost limitless [quite large], but still in the star series notes, these prefixes are less so there are some who collect prefix wise ...

Why are some insets more expensive? its simple demand supply, some insets the number of bundles printed were less ... more so during change over years or Governors ...

From a collection point on view one can follow the following themes:
- Per Design [does not consider Governors, only designs]. These should be around 3-5 designs per denomination
- Per Design / Governor [Collect one ea of Governors. some governors have signed 2 designs, collect both]. Around 125 notes
- All Insets, Governors, Designs. Around 575
- Include Prefix on older notes ...

Note:
Prefix are also used to determine which printing press has issued which notes [similar to mint marks on coins], however each press uses 3-4 insets ...
http://coinsofrepublicindia.blogspot.in
A guide on Republic India Coins & Currencies

Offline aarkay

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Re: Significance of Insets and Rupee Symbol
« Reply #2 on: October 21, 2012, 06:57:18 PM »
Hi…

@dheer…..thanks for the lucid explanation

Aarkay


Why worry about dead yesterdays and unborn tomorrows….live in the present…a present for you today…

Offline Coinsforever

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Re: Significance of Insets and Rupee Symbol
« Reply #3 on: October 22, 2012, 01:58:34 AM »
Beautifully illustrated Dheer .


I find one interesting article how and when inset began in Indian bank notes . I saved this article for my reference and sharing here.

Cheers ;D


Inset As An Alphabet On Indian Banknotes



Government of India - One Rupee with portrait of King George VI - Inset 'A'
The Inset first appeared in 1945 on a One Rupee Banknote of Government of India with the portrait of King George VI signed by C. E. Jones, Secretary, Finance Department. This was necessitated because of the completion of the prefix 'A' to 'Z'. A new type with inset 'A' again commenced from prefix 'A' to 'W' with green serial numbers. Post independence, the Government of India in 1955 first introduced an Inset on One Rupee notes dated 1951 signed by H. M. Patel, Finance Secretary, Ministry of Finance. The Inset was an alphabet in uppercase in bold beside the serial number initially and later positioned beneath the serial number from 1976 onwards. They continued to appear alphabetically though signed by different Secretaries of Finance Department and reached alphabet 'I', type* 6.1.6.4H signed by M. G. Kaul in 1976. One Rupee notes of Government of India overprinted for use in Burma and Pakistan also have the inset 'A' - type* 5.9.1B and 5.17.1.
The Reserve Bank of India in 1957 first introduced an Inset on Five Rupees notes signed by H. V. R. Iengar. The inset on notes of Reserve Bank of India appears as an alphabet in uppercase in relief underprint beneath the serial number.
The purpose for the use of an inset is two-fold:
 
1. The use of an inset is to differentiate distinct series of banknotes. There are a large number of banknotes that are printed in India. Once a series is complete, instead of commencing a completely new series, an inset is included beneath the serial number to the same series. This creates a separate identity to the banknote. This process is followed even for insets on replacement notes with a star in the serial number.
Incidentally, from 2005 onwards, the year of printing is also incorporated on the reverse of the banknote. The same inset and serial numbers are once again used each year.

2. To identify the printer.
From 1996, the inset alphabets are specific to the four different banknote printers currently used to print Indian banknotes by the Reserve Bank of India. Each of these four different banknote printers have been allocated specific inset alphabets.

· Bharatiya Note Mudran Nigam Pvt. Ltd., Salboni, West Bengal :
   Inset 'R', Inset 'S', Inset 'T', Inset 'U' and Inset 'V'
. Currency Note Press, Nashik (Nasik), Maharashtra :
   Inset 'L', Inset 'M', Inset 'N', Inset 'P' and Inset 'Q'
· Banknote Press, Dewas, Madhya Pradesh :
   Inset 'E', Inset 'F', Inset 'G', Inset 'H' and Inset 'K'
.Bharatiya Note Mudran Nigam Pvt. Ltd., Mysore, Karnataka :
 No inset, Inset 'A', Inset 'B', Inset 'C' and Inset 'D'

*The reference of type numbers is from 'The Revised Standard Reference Guide to Indian Paper Money' by Rezwan Razack and Kishore Jhunjhunwalla.

Source :Inset
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Offline aarkay

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Re: Significance of Insets and Rupee Symbol
« Reply #4 on: October 22, 2012, 07:12:58 AM »
Hi…

@aan09…… a lucid explanation once again….thanks…. :)

Aarkay

Why worry about dead yesterdays and unborn tomorrows….live in the present…a present for you today…