Discussion: Coin Booking mint website not showing correct information

[Bimat]

I believe quite a few of the serious collectors I know, have stopped booking with the mint and started picking up the sets from the dealers. They find it better to pay a few hundred Rupees more than to undergo the stress of waiting or landing up with defective sets.

That's true. In fact, little bit of luck on eBay may even help you in getting the sets for less than issue price!

Aditya

[Pabitra]

eBay India is closed but coin shows do have dealers selling latest sets.
Most of the coin clubs also have dealers putting up the stalls in their monthly meetings.

[Rabi_R]

I shall post here if i ever receive the coin. If i don't, it's simple for me, i stop collecting Republic India proofs/UNCs.
I shall recoup the loss by selling my collection of proof coins in the secondary market.

[Pabitra]

If you are not aware of where to buy them from, you are hardly expected to know where to sell them at right price.
The float between selling and buying prices of these sets is very large in view of extremely low liquidity.

[Rabi_R]

If you are not aware of where to buy them from

Excuse me, i didn't get your point. Do you mean mints are not the right place to buy proof coins?

Let's not mix my experience with the generalised statement, the two are different.

Regarding "right price", in a free market, agreed price is the right price. Moreover, since this is not my business, i only want to make up for my loss, all i need to do is list my coins at ebay at 10-15% margin above purchase price. If it sells, fine, if not, no problem, these are not perishable goods and ebay doesn't charge commission unless the product is sold.

[Pabitra]

The dealers have contacts in the mint shops to ensure good and prompt delivery since they have been buying in large lots, many times from the in house shops.
For individual buyers, they get last priority with no response.
However, I have never heard of someone not getting their set after having paid.
Some times, the delay is too long or the set is not in good shape.
For new persons, it can be a stressful and not a very happy experience.

Regarding selling or buying, the right place is coin shows or stalls at monthly meetings of coin clubs in your town. If your town does not have such things, I am sure you will have a town within say 200 Kilometres, where such shows/ meetings take place.

eBay India is not an option since it has closed down after the selling collapsed when they started insisting on GSTIN even from casual sellers, indicating worse bureaucratic attitude than the Government itself.

As Bimat indicated that you may get them at lower than issue price, indicates the stark reality of commercial aspects of the Republic of India sets.

Leaving a passion is easily said than done.

[Rabi_R]

Since you are based in UK, and perhaps for a long period, i doubt you know the exact realities of India. I would prefer to avoid any discussion about mint-dealer nexus, but regarding GSTIN, that's just a matter of a few mouse clicks. And after the closure of Indian site, Indian sellers are selling from ebay Canada.
Mark my word, coin shows will become a thing of the past within a decade.

[Pabitra]

If my experience is any indication, WMF is doing much better.
In India, there are more shows than there were few years back.
A large number of dealers have entered the market.
Number of collector coins being issued by Indian mints is clear indication of growing demand for such coins.
The situation is such that now only collector coins are being planned without same design circulating commemoratives being planned.
The cash still dominates the hobby.