INDIA (Central bank) wants to BUY COINS... Yours!
 

India Bank Wants to Buy Collector Coins
By Richard Giedroyc, World Coin News
December 14, 2009
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If you’ve got some duplicate ancient, medieval, or modern coins of India in your collection you’ve been considering selling this might just be your opportunity! The Reserve Bank of India has recently announced it is seeking coins of India from virtually all periods of India’s history for the reserve bank’s monetary museum.

The RBI’s want list is long. It includes coins of the Ashoka, Chalukya, Mauryas, Saatwahanas, Samudragupta, and of the Pandavas; Indo-Greek and ancient Roman issues; coins of the medieval dynasties of the Bahamani, Cholas, Mughals, Marathas, and Vijayanagar; as well as emissions of British, French, and Portuguese India.

The bank may have good intentions, but according to people involved in organized coin collecting in India the bank is also a Johnny-come-lately.

Farokh Todywalla and Ramesh Velunde are two well-known coin collectors in India. They were quoted in the Nov. 2 The Times of India newspaper in Mumbai in a statement reading: “With ancient and medieval coins getting rare with each passing day and being bought at throwaway prices in the international market, the RBI has to make a lot of effort to enrich its museum collection. Being the country’s prime banking institution, the RBI should have taken these steps much before.”

Todywalla added, “I think the RBI has missed the bus. Its bureaucrats are not aware of the scenario of the market of historic coins.”

This is the third time in the four-year history of the RBI money museum that the central bank has announced it is looking to purchase coins for the museum collection.

Interestingly enough there is no indication the bank is seeking donations, but only to purchase coins.

According to the newspaper, “More than 130 prominent Indian dealers and collectors are involved in the business, with most buyers [being] from outside the country.”

Interested in selling? RBI contact information appears at www.rbi.org.in/scripts/helpdesk.aspx.

HS note:

It's IRONIC that the GOLD and SILVER will now start to come back because of INHERENT value compared to FIAT printed up to 50% extra every year in every country.

I was in mexico last Sunday - the exchange rate was 12.5 to 1 lousy USA $ - then. :15_1_70v:

certain countries like Italy and Malta have laws against taking out NUMISMATICS from the country.

(PS guess what I collect?)

Re: INDIA (Central bank) wants to BUY COINS... Yours!
 

Well, one very obvious connection is that India is spooked about the whole gold-plated tungsten bars story, and so they're now buying their gold in a form that is most unlikely to be tungsten fakes - coins. Interestingly enough, this is the same reason why many people prefer smaller denominations of silver, because they're less likely to be fake.

Re: INDIA (Central bank) wants to BUY COINS... Yours!
 

Good luck to them. Finally waking up and smelling the coffee.
The value of those coins now is more because of institutional demand

Re: INDIA (Central bank) wants to BUY COINS... Yours!
 

Heck, if they want those TUNGSTEN bars tell them that BILLIE LARRY BOBBIE substituted 281 million ounces of AMERICANS' GOLD (read yours!) held in their PUBLIC TRUST (Yeah, right!) to lease sell and corrupt America by keeping the price of gold down and by strengthen the LOUSY BUCKSY. L@@K how the BUCKSY has fallen.

So they can find them gold plated "W" bars stacked to the ceiling at "FORT 'TUNGSTEN' KNOX."

Re: INDIA (Central bank) wants to BUY COINS... Yours!
 

APMex doesn't have any Indian coins.

http://www.apmex.com/Category/354/I_..._Currency.aspx

maybe the RBI already bought them !