New Commemorative Issue: 2014: Acharya Tulsi

[kansal888]

Dear Friends

There are unconfirmed rumors that commemorative coins may be issued in memory of Jain Muni Acharya Tulsi, whose centenary is being celebrated in 2014.

I will keep you informed

Regards
Sanjay Kansal

[dheer]

great news ... for quite a while the scene was dull with the space being occupied by Re-Strikes ... but now it looks like things are moving again ...

[Pabitra]

Yes. Acharya Tulsi coin is in process.
The denominations are likely to be Rs. 5 and Rs. 20.
It may be possible that Rs. 20 coin may be of base metal and circulating commem.
If it not circulating commem, then it would have silver in it.
Also the coin may not bear his effigy but only signatures.
Release date is expected to be around 20th Oct since the centenary celebration start that day.
Acharya Tulsi was born on 20th Oct 1914.

[dheer]

The Rs 10 circulation coin has not yet gained currency ... so having a Rs 20 circulating coin ... not sure ... any reason for choosing a Rs 20 denomination ...

[asm]

... any reason for choosing a Rs 20 denomination ...

With the nose diving value of the rupee and the high level of inflation, at least the RBI is signalling that soon we will need to use only the 10 Rs and 20 Rs coins while the lower denomination may not be acceptable to the general public - just like the 50 p and lower denomination a few years back........is the government listening?

[Pabitra]

As far as Rs. 10 is concerned, one of the members confirmed that it is in general circulation in Mumbai.
Also Vaishno Devi 10 Rupees coin will have mintage of 1 Billion.
In addition, the mint capacity has been increased from 6 billion to 12 Billion coins per year.

RBI Dy. Governor has confirmed that as soon as mint confirms the enhanced production, Rupees 10 Note will be stopped.
The Polymer note may now be Rs. 50 instead of Rs. 10.

Rupees 20 note may also be stopped soon. So the reason for choosing this denomination is obvious. India had Rs 20 note but never Rs 25 note. Although it had both 20 and 25 paise coins but 20 Paise coin was rather short lived as compared to 25 paise coin.

The denomination design is solely dependent of inflation.
In the Indian subcontinent, Pakistan and Bangladesh have officially stopped Paisa/ Poisha as unit of currency.
Pakistan experimented with 2 coins of Rs 20 as commemorative coins, two years back.
General circulation Rs 20 coin in Pakistan may come in a year or so.

The regional example to be studied in denomination design is Iran. That, of course, is a topic for another thread.

[mumbapuri]

As far as Rs. 10 is concerned, one of the members confirmed that it is in general circulation in Mumbai.
Also Vaishno Devi 10 Rupees coin will have mintage of 1 Billion.

the 10rs coins in circulation in mumbai are the cross, sun-rays, 10r symbol, homi bhabha, rbi, parliament. Besides these are there any others which are supposed to be circulation already?

The figure of 1 Billion may not be enough. We need more, anyone has started any protest or signature campaigns?

[Pabitra]

the 10rs coins in circulation in mumbai are the cross, sun-rays, 10r symbol, homi bhabha, rbi, parliament. Besides these are there any others which are supposed to be circulation already?

I think they are the only one in circulation.

The figure of 1 Billion may not be enough. We need more, anyone has started any protest or signature campaigns?

What is the need for any protest or campaign?
The target of 1 billion is only for Vaishno Devi.
Rupee symbol coins will be produced in addition.
Production will go up when either the the production of bimetallic blanks stabilises or 10 Rupee coin is made into mono metallic. These are only long term decisions, which will be taken as and when the need arises or demand for 10 Rupee coins goes up.
I think it is too early to worry about them. Presently, it is wise to concentrate on how to eliminate shortage of coins.

[mumbapuri]

What is the need for any protest or campaign?
The target of 1 billion is only for Vaishno Devi.

Not enough... if there are 1 billion+ pple and we mint only 1billion, not everyone gets an opportunity to have one of these, do they? Yes, other issues of the 10rs could suffice the 10rs requirement, however mata coins should have a mintage of 2 or 3 billion. This also ensures that "dealers" do not a have a field day.

Every country has a special or memorable coin of its era, I hope that the mata coin, especially in bimetallic 10rs series proves to be such one coin, where pple worldwide (not just in India) get a fair opportunity have this at face value.

And for the protest/campaign part, that was just empty rhetoric with a tinch of sarcasm, a few days back there was a campaign to stop re-strikes. In a country, where crores of rupees are swindled in corruption, pple dont think twice before paying "a small premium" to pay/purchase common circulation coins. Which IMHO is both illegal and perhaps unethical.

UNC/Proof coins do not serve the above purpose for 2 reasons:
1) Poor quality/Unreasonable prices
2) method of purchasing these coins


Regards,

[mumbapuri]

A small edit to the above, I am aware that the prev protest was NCLTs and we are talking about circulating coins Before Kansalji again reprimands me for this, I accept it again

[Coinsforever]

There has been always & repeated mismatch in demand vs supply of circulating coins.

Demand arise due to numerous factors :
Regional demand , geographic  demand , traders demand , politician demand , banks demand .

Oops I forget  to include citizen/public demand that is prime and has been ignored and demonstrated ineffectively.

RBI is issuing authority  whereas GOI is decision maker.

Denomination of coins and their choice Rs.20 or Rs 25 , Rs 30 , Rs 75 coins  who know in future due to bitter fact of survival in today's life "high inflation" will continuously  allow to introduce such denomination  or may  rejects all arguments about selection & introduction of even /odd denomination of circulating coins.

Cheers

[abhinumis]

Rs 10 are in circulation quite freely in Delhi. I find these coins quite often. I think people will except them as soon as bulk of these coins are poured in the market. The fad of hoarding bimtalic is soon becoming a passe..

[Pabitra]

About coin of Acharya Tulsi. The tentative date stands. The final design shows the face of Acharya Tulsi. The 20 Rupees denomination composition is still to be finalised but base metal coin is still likely. However, it will not be circulating coin. The issue is likely to follow Thailand model where 10 Baht is bimetallic and circulating whereas 20 Baht is regularly issued, is Copper Nickel and available in plenty from the mint shop. We have some member from Thailand. Can he kindly explain this model?

[Pabitra]

Finally it has been decided that Acharya Tulasi coin of Rupees 20 will be of QA and not base metal.

[kansal888]

Thanks for the info Pabitra Ji.