New Commemorative Issue: 2010: 1000 yrs of Brihadeeswarar Temple - Rs 1000 Coin

[kansal888]

Dear Friends

I also got one Thanjavur temple 5 Rs from Indipex. But its soooo costly. Rs 435 is the SPMCIL price for 1 unc coin. I am sure after some weeks, dealers will come out with a pirated version at cheaper rate.

Anyone can buy one lose coin (say Rs 10) + one card (say Rs 40) and prepare a pirated version for Rs 50.Mark my words...there are no security features on the coin card. Earlier also single unc coin sets issued by Mumbai & Kolkata were pirated.

Regards

Sanjay Kansal

[Abhay]

The image of the 5 Rupee Coin issued by Mumbai Mint.

Abhay

[H]

Thanks for the pictures... great work!!!

[beekar]

The image of the 5 Rupee Coin issued by Mumbai Mint.

Abhay

Many many thanks for the pictures.

[Bimat]

Nice coin, but will not pay 400+ bucks for that fancy card.  I'm sure I will get the ordinary unc version for face value..

Aditya

[Coinsforever]

Coin with packing is elegant , I feel that sale price is  due to aesthetic value of combo card with coin , but masses of collectors won't  buy it  .

Contrary to above discussions the sale of this single coin has been very high during 1st & 2nd day of Indipex  and it seems that all the stock will be finished shortly.

Cheers 

[Bimat]

For me, more important thing is the coin, not the packaging. I really can't think why its issue price is kept so high (about 88 times its face! That's absolute rip off! ) In Euro countries, €2 commemorative coins are also issued in similar coin cards but their issue price is always between €9-€15. If I really want to spend my money on these, I'd rather prefer to buy €2 coin cards (which are really very well struck) instead of Indian coin card..

Aditya

[Abhay]

Well. the price of the coin is really high. But all the other sets were also being sold at much higher price than the original booking price. To my knowledge, the reason for high price could be due to:

1. SPMCIL is one of the main sponsoror to the INDIPEX, for which they must have paid a huge amount to the Postal Department. In order to recover some of the contributions, they have kept a huge profit margin.

2. The coins were being sold by some other Govt. agency - most probably Indian Govt. Cottage Industry, and they must be charging their share of profit also.

3. I noticed that most of the buyers were actually not coin collectors. Many of them had seen seen these Proof and UNC sets for the first time in their life. In fact, most of them never knew that a 100 or 150 rupee coin has ever been minted. So, out of curiosity, they purchased the Proof Coin set.

4. Now SPMCIL is an independent body, a limited company, an autonomous body, which have to earn themselves for their expenses. It is now no more under Ministry of Finance. In order to earn profits, the prices have been kept high.

5. Last, but not the least, even after such high prices, the sales were brisk, thus signifying the theory that no price is high enough if there are buyers at that price also.

Abhay

[Coinsforever]

Well. the price of the coin is really high. But all the other sets were also being sold at much higher price than the original booking price. To my knowledge, the reason for high price could be due to:

1. SPMCIL is one of the main sponsoror to the INDIPEX, for which they must have paid a huge amount to the Postal Department. In order to recover some of the contributions, they have kept a huge profit margin.

2. The coins were being sold by some other Govt. agency - most probably Indian Govt. Cottage Industry, and they must be charging their share of profit also.

3. I noticed that most of the buyers were actually not coin collectors. Many of them had seen seen these Proof and UNC sets for the first time in their life. In fact, most of them never knew that a 100 or 150 rupee coin has ever been minted. So, out of curiosity, they purchased the Proof Coin set.

4. Now SPMCIL is an independent body, a limited company, an autonomous body, which have to earn themselves for their expenses. It is now no more under Ministry of Finance. In order to earn profits, the prices have been kept high.

5. Last, but not the least, even after such high prices, the sales were brisk, thus signifying the theory that no price is high enough if there are buyers at that price also.

Abhay

I would add one more point sale price is inclusive of VAT.

[kansal888]

Dear Abhay Ji

To best of my knowledge, SPMCIL has executed a JV with some organization for selling these coins in Indipex. I dont believe that they are trying to recover cost of sponsorship. I think they are testing water for future price hike.

Did you noticed that spelling of Zinc is misspelt as Zink on the coin card.

Regards
Sanjay Kansal

[nomadbird]

Hi all

When is this coin booking opening?

Nirmal

[Coinsforever]

Hi all

When is this coin booking opening?

Nirmal

Please follow Mint website it will appear normally .

Cheers

[Bimat]

Since coin has been struck by Mumbai mint, I think it will be made available on Mumbai mint's website (http://www.mumbaimint.in/index.aspx) and not on Kolkata mint's website..

Aditya

[The Oracle]

Since coin has been struck by Mumbai mint, I think it will be made available on Mumbai mint's website (http://www.mumbaimint.in/index.aspx) and not on Kolkata mint's website..

Aditya

i am hoping that is the case.  The single coin Braille proof was also issued at indipex.   if the mint does not release it they will become expensive.  The temple coin is going north of 700 on ebay regularly now. 

[Patney]

The SPMCIL and Mints are now become the official Black marketing Agency, Rs 5 Coin On Brihadeeswarar Temple was sold for Rs 432/- which means that Rs 427 are Packing , Handling, Profit Margin and Black Marketing  Charges
If you buy a Gold coin from MMTC, it only Charges 15 for Same Packing
Great Going with India Government Mint, LOOTING the Coin Collectors.
Rs 5 Coin On Brihadeeswarar Temple is only an UNC Coin and not even a Proof Coin as in the case of Louis Bralie.