Author Topic: Discussion: New - which became Old in less than two years  (Read 3749 times)

0 Members and 1 Guest are viewing this topic.

Offline dheer

  • Moderator
  • Honorary Member
  • *****
  • Posts: 3 132
  • Indian Coins & Currencies
    • Coins of Republic India
Re: Discussion: New - which became Old in less than two years
« Reply #15 on: January 06, 2020, 04:16:28 PM »
The minting was quite less compared to other denomination. Only for 2007 by one mint. Only few dealers have it.

Very few, less than handful, have got it in circulation...
Rs 1 was more widely available in Ahmedabad and other cities...
http://coinsofrepublicindia.blogspot.in
A guide on Republic India Coins & Currencies

Offline idiotghost

  • Senior Member
  • ***
  • Posts: 196
Re: Discussion: New - which became Old in less than two years
« Reply #16 on: January 07, 2020, 10:58:11 AM »
Well I suppose then this Rs 5 Unity in Diversity will be a gap in my collection! This joins with the 1996 Rs 5 International Crop Science Congress coin as an another gap! Both are insanely priced to pick up from a dealer! Kolkatta Mint being the common thread! Recently only Kolkatta mint coins, not minted elsewhere are hard to get in circulation atleast in Mumbai/Gujarat!

Offline dheer

  • Moderator
  • Honorary Member
  • *****
  • Posts: 3 132
  • Indian Coins & Currencies
    • Coins of Republic India
Re: Discussion: New - which became Old in less than two years
« Reply #17 on: January 07, 2020, 04:30:21 PM »
Didn't realise price of rs 5 has gone up... It used to be around rs 100 and went up to Rs 500 ...
Crop science last I know was doing rs 8 to 10 thousand
http://coinsofrepublicindia.blogspot.in
A guide on Republic India Coins & Currencies

Offline idiotghost

  • Senior Member
  • ***
  • Posts: 196
Re: Discussion: New - which became Old in less than two years
« Reply #18 on: January 07, 2020, 04:36:24 PM »
The 5 Rupees was minted and issued only in Kolkata before the design was stopped.
According to Sainath Redappa, it is for 800 Rupees in unc.

Of all the places in India, I found Bangalore numismatists and dealers to be most knowledgable and reasonable.

If you can visit one of their 3 shows per year, you will be pleasantly surprised.

In case you wish to contact one of them, please PM me.

Pabitra mentions around 800 for Rs 5 Unity in Diversity in the previous page. Amazon link of a vendor states Rs 1000! Still very expensive in my opinion.
Aranyak Hobby Republic India Coin Collection Series ~ Five Ru Cross Coin 2007

Offline idiotghost

  • Senior Member
  • ***
  • Posts: 196
Re: Discussion: New - which became Old in less than two years
« Reply #19 on: January 07, 2020, 04:40:34 PM »
Didn't realise price of rs 5 has gone up... It used to be around rs 100 and went up to Rs 500 ...
Crop science last I know was doing rs 8 to 10 thousand

Crop Science Rs 5 coin is eye-wateringly priced on Amazon! Though I always felt amazon prices were much more then what one could get at a known dealer (nobody I know of!). But still one would get the gist. There are 3 listings between 10,000 to 17,000 Rupees for the coin!  ::) :o
Amazon.in: crop science coin

Offline Pabitra

  • Honorary Member
  • *****
  • Posts: 2 286
Re: Discussion: New - which became Old in less than two years
« Reply #20 on: January 08, 2020, 03:57:56 AM »
5 Rupees Unity in Diversity is officially issued circulation coin with very limited mintage. There was a RBI press release for issue of that coin, as was the norm of the time.

Crop Science coin was minted on for release function for the Confrence which got cancelled. It was never given press release. Later, Kolkata mint issued single coin set, using the die which was lying with them. So it is at best a pattern and should be treated as that.

Similar coin on Water resources is also reported.

Offline idiotghost

  • Senior Member
  • ***
  • Posts: 196
Re: Discussion: New - which became Old in less than two years
« Reply #21 on: January 12, 2020, 11:22:24 AM »
5 Rupees Unity in Diversity is officially issued circulation coin with very limited mintage. There was a RBI press release for issue of that coin, as was the norm of the time.

Crop Science coin was minted on for release function for the Confrence which got cancelled. It was never given press release. Later, Kolkata mint issued single coin set, using the die which was lying with them. So it is at best a pattern and should be treated as that.

Similar coin on Water resources is also reported.

Thanks Pabitra for the Info. Now I feel less guilt of not having the Crop Science Coin.  :)

Is it safe to assume that any commemorative coin which doesnt have a press release for circulation, shouldnt be counted as a Circulating coin (even if dealers get it)?

Was the 2006 re-strike released in circulation or that also made it to unscrupulous dealers only?

I dont know why numista lists it as a circulating coin strangely! 5 Rupees (2nd International Crop Science Congress) - India – Numista

Offline idiotghost

  • Senior Member
  • ***
  • Posts: 196
Re: Discussion: New - which became Old in less than two years
« Reply #22 on: January 12, 2020, 11:25:32 AM »
Similar coin on Water resources is also reported.

Do you mean the Rs 2 Land Vital Resource coin of 1992? 2 Rupees Land-Vital Resource - India – Numista
It was always uncirculated, but I guess somebody auctioned a circulated coin for RS 1 Lakh in Toddywaala a few years back! I think the person might have taken the coin out & used it for buying stuff.

Offline dheer

  • Moderator
  • Honorary Member
  • *****
  • Posts: 3 132
  • Indian Coins & Currencies
    • Coins of Republic India
Re: Discussion: New - which became Old in less than two years
« Reply #23 on: January 12, 2020, 12:43:18 PM »
Thanks Pabitra for the Info. Now I feel less guilt of not having the Crop Science Coin.  :)

Is it safe to assume that any commemorative coin which doesnt have a press release for circulation, shouldnt be counted as a Circulating coin (even if dealers get it)?

Was the 2006 re-strike released in circulation or that also made it to unscrupulous dealers only?

I dont know why numista lists it as a circulating coin strangely! 5 Rupees (2nd International Crop Science Congress) - India – Numista

Press releases is not mandatory, it's for information. Older press releases have not been digitised... So no it's not a deciding factor... Even quite a few recent issues available in circulation do not have press release.

The Crop Science was very small quantity and Abhay a reputed collector in this forum mentioned he got this for rs 100 decades ago when there was no buzz.... Plus quite a few specimen show signs of use wear... But yes large number of coins are in good condition

The 2006 re-strike is interesting and there is no authoritative answer... It's a strike by Kolkata Mint at the behest of a business man... Plus other story of mint finding a bag of 11,000 coins not distributed put in the box and sold...

So hard to tell...
http://coinsofrepublicindia.blogspot.in
A guide on Republic India Coins & Currencies

Offline Abhay

  • Moderator
  • Honorary Member
  • *****
  • Posts: 2 711
Re: Discussion: New - which became Old in less than two years
« Reply #24 on: January 12, 2020, 04:34:39 PM »
Press releases is not mandatory, it's for information. Older press releases have not been digitised... So no it's not a deciding factor... Even quite a few recent issues available in circulation do not have press release.

The Crop Science was very small quantity and Abhay a reputed collector in this forum mentioned he got this for rs 100 decades ago when there was no buzz.... Plus quite a few specimen show signs of use wear... But yes large number of coins are in good condition

The 2006 re-strike is interesting and there is no authoritative answer... It's a strike by Kolkata Mint at the behest of a business man... Plus other story of mint finding a bag of 11,000 coins not distributed put in the box and sold...

So hard to tell...

Yes. I still remember the indecent. The coin seller was a Sardarji from Mayapuri, Delhi.

Abhay
INVESTING IN YESTERDAY

Offline idiotghost

  • Senior Member
  • ***
  • Posts: 196
Re: Discussion: New - which became Old in less than two years
« Reply #25 on: January 12, 2020, 09:47:35 PM »
Press releases is not mandatory, it's for information. Older press releases have not been digitised... So no it's not a deciding factor... Even quite a few recent issues available in circulation do not have press release.

Well in that case what constitutes a "circulating coin"? What are the quantifiable parameters which can safely say the coin was circulating for the general public?

There have been cases where the dealers get the coin packets, but its not released for general circulation! Then there are withdrawn cases or error coins (1996 Subhash Chandra Bose Rs 2, Rs 5 Tilakji, Delhi Commonwealth No denomination)! Can they be termed as Circulating or Non-Circulating?

I have my doubts on few of the cases which Numista tags as circulating coins, especially the dual metal cases of Rs 5 between 2004-2007 (Copper Nickel & FSS)! I dont want to have the guilt of not having a circulating coin, so classification is very important to me.

Apologies for digressing from the board topic.

Offline idiotghost

  • Senior Member
  • ***
  • Posts: 196
Re: Discussion: New - which became Old in less than two years
« Reply #26 on: January 12, 2020, 09:54:36 PM »
Yes. I still remember the indecent. The coin seller was a Sardarji from Mayapuri, Delhi.

Abhay

Lucky you Abhay :) Today I might meet a coin dealer in Vadodara who sits in the old city area & claimed he has the crop science coin with him on the phone. He didnt reveal the price, but no harm in seeing it. Irony is he doesnt have a shop & sits on footpath & sells coins in the old city area, but has such expensive coins! I once had bought few coins from him 15 years back, so he has been in the business for long. There is a coin exhibition for the first time in Vadodara from Jan 17-19 this week. I'm hoping prices would be cheaper then the Mumbai coin Fair in Cuffe Parade in Sept 2019.

Offline Pabitra

  • Honorary Member
  • *****
  • Posts: 2 286
Re: Discussion: New - which became Old in less than two years
« Reply #27 on: January 13, 2020, 05:02:45 AM »
Press releases is not mandatory, it's for information. Older press releases have not been digitised... So no it's not a deciding factor... Even quite a few recent issues available in circulation do not have press release.

Either a press release or a gazette notification is an absolutely must for making a coin govt. issue.

From Nehru ( 1964) till some time back, it was always a press release.
Later, it was indicated that Reserve Bank of India is not the issuing authority but only a distributing agency. The mints were given the power to book and sell the collector sets at price above the face value. Then the gazette notification became norm.
If I am not mistaken, the Coinage Act amendment ( 2011) was the turning point. It also permitted minting of coins of denomination above Rs 100 upto Rs 1000. It also declared 25 paise and lower denomination coins as no longer legal tender, thus permitting holders to melt them without committing any offence.

Offline Pabitra

  • Honorary Member
  • *****
  • Posts: 2 286
Re: Discussion: New - which became Old in less than two years
« Reply #28 on: January 13, 2020, 05:05:28 AM »

I have my doubts on few of the cases which Numista tags as circulating coins, especially the dual metal cases of Rs 5 between 2004-2007 (Copper Nickel & FSS)

In these case, all of them had individually been notified by press release of the RBI.

Offline Pabitra

  • Honorary Member
  • *****
  • Posts: 2 286
Re: Discussion: New - which became Old in less than two years
« Reply #29 on: January 13, 2020, 10:36:19 AM »
Here is a press release of 5/- ferritic steel coins of circulation type ( unity in diversity).

The commem coins of 5 Rupees denomination were released in release function as and when they were due but they were not issued since Copper Nickel coins were stopped in 2003.
Only in 2007, the revised specifications were issued and coin struck in steel were issued. Wherever, copper Nickel coins were available, they were also issued after the press release but were not specifically minted in larger quantities.

This had affected about 7 coins of 5 Rupees denomination.

Are you raising query about a specific coin?

Can this be split in to specific thread?