World of Coins

Modern Asian coins, pseudo coins and trade tokens => India post 1947 => Topic started by: aravindan55555 on February 19, 2021, 10:19:13 AM

Title: Rare 10 Paise 1968 Hyd mint Type 1 coin
Post by: aravindan55555 on February 19, 2021, 10:19:13 AM
I would like to know which one is rare among this 10 paise 1968 Hyd mint Nickel-brass Type 1 and Type 2 coins..

I believe, Type 1 hyd mint coin is very special, no other mint have type 1 coin from year 1968 to 1971.


Title: Re: Rare 10 Paise 1968 Hyd mint Type 1 coin
Post by: Figleaf on March 19, 2021, 03:05:13 PM
Looking at the price quotes in KM, type 1 (KM 26.1) is much harder to find than type 2 (KM26.2). This is probably due to this type being a one year, one mint issue.

As you know, your picture is type 1. Even though it is hard to find, it would be incorrect to call the type rare or even scarce. While there is no international standard for these terms, KM gives a mintage of 55.94 million. As a rule of thumb, there are no circulation Indian coins that are scarce or rare and that also goes for a great majority of Indian circulation and non-circulation commemorative coins.

Peter
Title: Re: Rare 10 Paise 1968 Hyd mint Type 1 coin
Post by: africancoins on March 19, 2021, 06:08:31 PM
Similarly for such as Aluminium 5 Paise 1971(H), the published listings include those pieces with a Type 1 obverse and those with a Type 2 obverse. A quick look on the internet soon finds images of a few pieces of 5 Paise 1971(H) with a Type 1 obverse. But see if you can find a reliable image on the internet of a 5 Paise 1971(H) with a Type 2 obverse ?

It would seem that for Republic of India coins, the less common piece in any of the “variety pairs” of this sort, could well number somewhere in the range of just one-tenth to one-hundredth of the total number of pieces remaining in existence for the “pair”. Furthermore for such as the 5 Paise and 10 Paise examples mentioned, vast numbers of these coins will have been re-called an melted following demonetisation.

As for “scarce” and “rare”… Difficult either to define or measure.

As with regards to “KM gives a mintage of 55.94 million”, with reference to 10 Paise 1968(H) with a Type 1 obverse. That looked wrong to me and from looking at an older book, I can see that it states that the mintage for the 1968(H) Obverse Type 1 pieces actually includes the mintage for the Obverse Type 2 pieces of 1968(B), 1968(C) and 1968(H). (The newer books have “forgotten” about that and read as though those Obverse Type 2 pieces are all of unknown mintage.) The Weltmuenzekatalog also indicates the 55.94 million mintage as being for all of the 1968 pieces in total. So the total mintage for all 1968(H) pieces was likely around 15 to 20 million.

Thanks Mr Paul Baker
Title: Re: Rare 10 Paise 1968 Hyd mint Type 1 coin
Post by: Figleaf on March 19, 2021, 08:26:43 PM
Good research, Paul. In the end, though, I still think the difference is due to the type 1 being a one year, one mint coin i.e. all type collectors, date collectors and even date/mint collectors want it. That should not be a problem, even with a mintage  of 15 to 20 million.

My standard example is the coins of the Seychelles, where you can find a mintage of 800 000 and those dates are not even considered scarce. The real - happy - issue is India getting wealthier, therefore more collectors, therefore more demand for key types such as the 10 paisa type 1. In other words, the bottleneck is demand, not supply.

Peter
Title: Re: Rare 10 Paise 1968 Hyd mint Type 1 coin
Post by: aravindan55555 on March 21, 2021, 02:37:37 PM
Paul Baker and Peter thanks for you reply :).

Yes ofcourse, May be 55.94 million mintage includes all 10 paise 1968 mints & type 1 and 2 coins why because this Type 1 coin is missing in most of the online coin selling sites and few sites were showing always out of stock and also i found this type 1 in an auction site were they sold out for few thousand rupee. and also i have searched this type 1 coin thru google images but showing very less images. As Paul Baker said vast numbers of coins were melted and demonetized, So there would be really demand for this Type 1 coin.

And also here i have attached a book copy, were we can see a huge price difference from type 2 coins of 0.20$ to type 1 coin of 30$ that was really huge difference.
but I dono about the current market price.