New Definitive Issue: 2008: Rs 10 and other denominations

[Figleaf]

RBI may introduce Rs 10 coins after two years

Kanpur, Dec 20 (PTI) The Reserve Bank today said that it could introduce Rs 10 coin after two years.
"RBI will definitely introduce Rs 10 coin in market but it will take at least two year," J B Bhoria, Regional Manager (UP and Uttarakhand) RBI said adding that there are no immediate plans to introduce such a coin.

"Presently, RBI does not have any plan to replace Rs 10 currency notes with coins," he told PTI.

The RM further said that whenever RBI introduces new coins in the market, it does it in bulk to prevent black marketing of the coins.

He said the RBI could only introduce Rs 10 coins in the market once it has sufficient numbers in its treasury.

On polymer currency he said that the central bank has still not taken any decision to introduce them in the market and any news about its circulation is not true.

Source: PTI

[Rangnath]

I do not know Mr. Bhoria, but I have heard the phrase "will definitely intoduce".  In other words, what Mr. Bhoria said was "RBI will, with a 33% probability, perhaps, with possible certainty, introduce a Rs 10 coin at some time in the not too distant future". 

"RBI will definitely introduce Rs 10 coin in market but it will take at least two year," J B Bhoria

[asm]

I do agree with the statement as this is the same with all government agencies.  What is surprising though is that the designs for the coins have been doing the rounds for the past two or three years. Infact I was offered a coin (at an exorbitant price) at an exhibition in Mumbai some time back. The bi-metalic coin was in the same design as the new regular issue ferratic stainless steel coins.

[Rangnath]

ASM,
Was the 10 Rs coin already produced in limited supply?
I'm curious and in no way do I wish to acquire one, but how much was the offer for a bi-metalic? 
richie

[asm]

Richie, infact the dealer and there were two or three different dealers who had them, said that the coins will be introduced very soon for circulation and these were the first few of the minted ones. Hence I did not buy any (the asking price was upwards of Rs 500.) I think I am going to regret the decision for a long time.....
It is quite normal in India to have coins available in the market (from dealers at around US$ 1 to US$ 2 for a Rs 5 coin) long before we see the same in regular circulation. This is specially true for comemorative issues which some times take upto a few years to be seen in the market.
Amit

[Rangnath]

Amit, In terms of Coins and Food (I have never met a regional cuisine in India that I didn't adore!), I would love living in your country.
But in terms of acquiring commemoratives, I think it is much less expensive in the USA. 
For example, when the next presidential dollar is released, I will go to my friendly teller at Umpqua Bank and ask for a roll of un-circulated coins, 25 in a roll, and pay $25 for the roll. 
Of course that is if Umpqua Bank is still in business.  In our economic crisis, one never knows for sure. 
Richie

[BC Numismatics]

Peter,
  It would be very interesting if the Reserve Bank of India did decide to issue a bimetallic 10 Rupees,then it would be following in Sri Lanka's footsteps,as they have had a bimetallic 10 Rupees in circulation since 1998.

Aidan.

[asm]

Richie, in India, even the RBI charges a premium when they issue the commomemratives in Proof and UNC. Besides this, a select few who have access to insiders in the RBI / mints, get hold of the initial coins minted for the ceremonies to mark the occasion and make a huge profit. It takes upto a few years for the coins to be seen in public.
I agree to your comments regarding the diversity of food and coins and am also amazed by the variety of types.
Peter, I will try to see if I can locate a picture of the bimetalic coins and post them in a day or so.

HERE IS WISHING ALL OF YOU A MERRY CHRISTMAS!
Amit

[asm]

Below are the images for the proposed new issues. I have yet seen only the Re 1 & Rs 2 coins of the first two types anf the Rs 5 of the third type. I have also learnt that a 50 paisa coin of one of the three types is in circulation but have no idea as I have never seen one. The specifications for the Rs 10 coins are at the bottom.

[asm]

Sorry I could not post a larger image due to ristriction on file size.
Amit

[Overlord]

Return of the "Cross" coins should be fun 

[mtayal]

Rs2 Type II is widely in circulation.

[mtayal]

Similarly Type 1 Rs 2 is also widely circulated.

[Rangnath]

Personally, I like the mudras. It is a shame, but commonly used mudras in this country would never make it to production.   
As for "the Return of the Cross", it sounds like the title of a horror film to me. 
richie

[Figleaf]

From what I've read, the 50 paisa has become impractical and the "unity in diversity" design has become controversial. We can probably deduct the ten rupee pieces as well, which leaves only a few pieces not yet issued.

Peter