Author Topic: Discussion: Proof or Not : 1950/1962 Indian Rupee  (Read 8416 times)

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Offline brokencompass

  • I collect British India Presidencies, Uniform coinage, Princely States, Table medals and other colonial Indian coins.
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Discussion: Proof or Not : 1950/1962 Indian Rupee
« on: September 10, 2011, 09:41:45 PM »
Hey! I bought a couple of Indian coins and was wondering if they were proof coins or not.

The reason I am confused is because a PCGS attributed proof looks very much like my coin.

http://www.ebay.com/itm/INDIA-REPUBLIC-1950-B-Rupee-PCGS-PR62-/230669596020?pt=LH_DefaultDomain_0&hash=item35b4fab574#ht_2349wt_1185

My goal for 2017 is to finish finish my British India copper collection (1/4 anna, 1/2 Pice and 1/12 anna) by year and Mintmark. Any help with missing coins in BU grades is highly appreciated.
https://coins.www.collectors-society.com/registry/coins/MySets_Listing.aspx?PeopleSetID=130880

Offline repindia

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Re: Proof or Not : 1950/1962 Indian Rupee
« Reply #1 on: September 11, 2011, 12:04:04 AM »
The 1962 definitely is not since proofs for the date carry the mint mark of Bombay. I cannot be sure about the 1950 without looking at it in hand.

Offline Figleaf

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Re: Proof or Not : 1950/1962 Indian Rupee
« Reply #2 on: September 11, 2011, 12:12:15 AM »
The shiny fields point at a special strike, but the satin effect on the higher part is incomplete and light, so I wouldn't call these proofs. Others will disagree. I think there are three possibilities:

  • Early strike the coins appearance make me believe this is a strong possibility. Early strikes with a new die will produce a shiny field and light and incomplete satin effect on higher parts.
  • Prooflike struck slower, with more pressure but not with polished dies. This produces a shiny coin, but no satin effects. Unlikely.
  • Mishandled proof proof struck, rubbed repeatedly, which wore down the satin effect

Peter
An unidentified coin is a piece of metal. An identified coin is a piece of history.

Offline The Oracle

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Re: Proof or Not : 1950/1962 Indian Rupee
« Reply #3 on: September 11, 2011, 12:15:14 AM »
Hey! I bought a couple of Indian coins and was wondering if they were proof coins or not.

The reason I am confused is because a PCGS attributed proof looks very much like my coin.

http://www.ebay.com/itm/INDIA-REPUBLIC-1950-B-Rupee-PCGS-PR62-/230669596020?pt=LH_DefaultDomain_0&hash=item35b4fab574#ht_2349wt_1185



not proofs and pcgs is the last company along with ngc to get an opinion on indian coins

Offline cj_fam

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Re: Proof or Not : 1950/1962 Indian Rupee
« Reply #4 on: June 09, 2012, 03:07:55 AM »
Can anyone tell me if this is a proof set or uncirculated set?

Offline The Oracle

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Re: Proof or Not : 1950/1962 Indian Rupee
« Reply #5 on: June 09, 2012, 08:00:16 AM »
unc

Offline cj_fam

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Re: Proof or Not : 1950/1962 Indian Rupee
« Reply #6 on: June 09, 2012, 10:46:08 PM »
I meant price :)

Offline dheer

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Re: Proof or Not : 1950/1962 Indian Rupee
« Reply #7 on: June 10, 2012, 03:35:23 AM »
I meant price :)

The 1950 / 54 / 62 Proof and UNC sets go in the range of 1.2 to 1.5 lacs depending on the condition of the set and how desperate and rich the buyer is.
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Offline cj_fam

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Re: Proof or Not : 1950/1962 Indian Rupee
« Reply #8 on: June 10, 2012, 05:32:26 AM »
So the UNC as well as Proof are almost the same price?

Offline dheer

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Re: Proof or Not : 1950/1962 Indian Rupee
« Reply #9 on: June 10, 2012, 05:39:02 AM »
There are all older rare sets, typically one has to wait for some seller to sell it. So depending on the condition, and the buyer the price gets decided. At times the UNC goes more than proof as well. There is no definite price for these sets. Every set is sold at different price.
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Offline The Oracle

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Re: Proof or Not : 1950/1962 Indian Rupee
« Reply #10 on: June 10, 2012, 10:55:41 AM »
So the UNC as well as Proof are almost the same price?

my understanding is different.  you wont even get 80000 if you got sell.  and that is the proof price the unc coins are available for cheap loose

Offline dheer

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Re: Proof or Not : 1950/1962 Indian Rupee
« Reply #11 on: June 10, 2012, 12:30:10 PM »
my understanding is different.  you wont even get 80000 if you got sell.  and that is the proof price the unc coins are available for cheap loose

Agree if you try to sell you may not even get 80,000. Many a times the prices are held up because the dealers know a particular buyer who is well off any for him any price is right, its more driven by the buyers potential rather than anything else.
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Offline kansal888

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Re: Proof or Not : 1950/1962 Indian Rupee
« Reply #12 on: June 12, 2012, 06:18:38 AM »
you wont even get 80000 if you got sell. 

I agree with Oracle. The transactions in 1962 sets are not very freequent. Due to low liquidity, there is no reliable benchmark of prices. The prices depend upon the level of desperation of buyer and seller.

There is vide variation between the buying price and selling price. If you want to buy the 1962 set, dealers will quote more than 100k. If you offer to sell them, they will not offer 70k.

Offline repindia

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Re: Proof or Not : 1950/1962 Indian Rupee
« Reply #13 on: June 14, 2012, 04:44:15 AM »
The question here is whether this set is authentic or not. Please take a look at a similar set which came up at auction in India and it just said "REPUBLIC OF INDIA" in large font at the bottom. The coins looked UNC and not P/L. Even this set the coins look UNC and not P/L so how can you say this is a mint issued set and not a made up one? In another thread I had raised my doubts about the 1950 and 1954 sets too and given my reasoning. All of my arguments are just based on circumstantial evidence and there needs to be more research by someone looking at the mint records.

Offline repindia

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Re: Proof or Not : 1950/1962 Indian Rupee
« Reply #14 on: June 14, 2012, 03:31:22 PM »
all the evidence is present in the coins.  for a coin to be proof it neither requires frosting nor does it require a shiny finish.  proofs have existed long before these 2 technologies became prevalent
@The Oracle these coins are not worn and are UNC and the finish is exactly like my circulating coins and nothing like that on my proof coins. What other evidence do you want? Please let me know if I am missing something which you have caught.