New Commemorative Issue: 2007: India - 150th birth anniversary of L.B.G. Tilak

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RBI introduces new Rs 5 coin

Mumbai (PTI): The Reserve Bank of India (RBI), on Wednesday said it has put into circulation new cupro-nickel coins of Rs 5 issued by the government to commemorate the occasion of the 150th birth anniversary of Lokmanya Bal Gangadhar Tilak.

On the reverse face, the coin bears the image of Lokmanya Bal Gangadhar Tilak flanked on the upper periphery with the words 'Lokmanya Bal Gangadhar Tilak ki 150vi Jayanti' in Hindi and on the lower periphery '150th Birth Anniversary of Lokmanya Bal Gangadhar Tilak' in English, a press release issued here stated.

The obverse face of the coin bears the lion capital of the Ashoka pillar with the legend 'Satyameva Jayate' inscribed below, flanked on the left upper periphery with the word 'Bharat' in Hindi and on the right upper periphery flanked with 'India' in English, the release stated.

It also bears the denominational value '5' in international numerals below the lion capital flanked on the left lower periphery with the word 'Rupye' in Hindi and on the right lower periphery with the words 'Rupees' in English, the release stated.

The coin is a legal tender as provided in the Coinage Act 1906. The existing five rupee coins will also continue to be legal tender.

Source: The hindu, 31-10-2007

[Bimat]

Hi Aidan,
There is interesting history behind this coin.The coin was first struck with the letterings "Lokamanya Bal Gangadhar TilakJI ki 150vi Jayanti" .This was actually an error coin,since we never add the word "JI" to Lokmanya Tilak,like that for Mahatma Gandhi.(Gandhiji).This error was pointed out by one officer from Maharashtra at the time of its release,and the coins were removed immediately from circulation.Result is obvious-this issue has become one of the rarest issue of India.I remember it was being sold for 25,000 Indian Rupees in a coin fair which I attended in December 2007!
The Normall issue,however is available in both Ferric Stainless steel and Copper Nickel Variety now.
Aditya.

[BC Numismatics]

Aditya,
  Did you get one of the error coins,or are they going for prices that most collectors are unable to afford? 25,000 Rupees sounds like a lot of money.You could buy one of these for that kind of money; http://www.indianarmy.gov.in//aps/field-postal-order.html .

Aidan.

[Bimat]

Aditya,
  Did you get one of the error coins,or are they going for prices that most collectors are unable to afford? 25,000 Rupees sounds like a lot of money.You could buy one of these for that kind of money; http://www,indianarmy.gov.in//aps/field-postal-order.html .

Aidan.

Hi Aidan,
I don't have this error coin.The only error coin that I have is 10 Paise dated 1988,minted at Ottawa,Canada,where the word "BHARAT" is lettered as "MARAT".These error coins are available only with dealers,and their prices are extra-ordinarily high. 25,000 INR is the price in December 2007,it might have increased also.I know 2-3 collectors having this coin in their collection.
You must be knowing about Republic India's rarest commemorative issue:"National Land Conservation" (KM# 323).The mintage of this coin is assumed to be less than 500,and for many years,Krause also didn't include this coin in the catalog.I was told few days back that its current market price is more than 1,25,000 INR (I haven't made any mistake with zeros )..I know only one such collector having this coin.You can think of its rarity..In the recent coin fair at Pune,I didn't find a single dealer having this coin for sale,which is quite obvious.
There is another commemorative of India-"2nd International Crop Science Conference"(denomination being 5 Rupees,KM# 160)-which is sold for high price,though it is not as high as the above two.(My guess is around 3000 INR).This conference was never held,and its mintage was restricted to 11,000.This coin is,however,available with many dealers here.

Aditya.