indian coins big business

look up the values in KM and look here what you see will amaze you


http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&rd=1&item=130244108022&ssPageName=STRK:MEWA:IT&ih=003

 

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Wow thats a huge premium for those coins.......
I have collected both of these from circulation....
The winner is from India....Don't think anyone from US would have invested such an amount on Indian coins.

 

90% of the people there have no clue about coin values or grades. its new money thats being thrown around as a show piece or as an investment they will get a rude awakening later.

 

Krause doesn't even seem to be trying to keep up with later date coins any more.

Some of the modern Indian coinage is virtually unavailable but in this case it might have something to do with the packaging. The 50p isn't really common in unc but quality tends to be absysmal. Perhaps these in the packaging are much better.

I find most of the 1 R coins even tougher.

 

try to get the new 5 rupee in 65 i had to search a bag to get 5 pieces

 

I for have have access to mint bags thanks to a few of my relatives working in RBI and State bank. In metropolis, it is easy to find old and commemorative coins in circulation but the place I live even 1 and 2 rupees coins are hard to come by let alone fractional coins due to artificial scarcity, we have to bring in coin bags from Calcutta to give change to our customers. Here might be the reason why
http://www.tehelka.com/story_main40.asp?filename=Bu020808ringinginthe.asp

http://www.nerve.in/news:25350071045

 

Do you ever see any of the old coins from the 1950's through 1970's?

I'm told that much of this stuff wasn't saved in unc and after all these years even the worn pieces that circulated aren't seen often.

Many people have told me there's almost nothing from this era in the coin shops even.

 

I do find fractional denomination of 25 and 50 paise still in circulation. Other denomination like 10 and 20 paise which could be found about 5 years back in circulation of course in metropolis are now completely extinct. Finding them in Unc is no problem in ebay but most of them being made of aluminium, badly degrade over time due to our humid climate. As Spock told people here don't know anything about grading or valuation; prices do sky rocket especially the old NCLTs.

 

I've noticed that the prices for Indian proof sets have exploded. I still find them in dealer junk boxes and they'll sell them for 1/2 or 1/3 Krause and be happy to get rid of them. These then sell for multiples of Krause on eBay which is still WAY too low considering the tiny mintages and the number of people in India.

 

I've long believed the potential for these sets is simply incredible. Some are very highly desirable and mintages are under 10,000.

But I've also long believed that the biggest potential is in the circulating issues. Some of these probably were very lightly saved in new condition and demand for circulating coinage tends to be many multiples of demand for special issues and proofs.

The only dealer I've seen specializing in Indian coins was set up at the pre-ANA show in Pittsburgh in '88. He had vast quantities of material for sale and much of it was unc and proof. I really regret that I didn't talk to him much more than I did and study his merchandise but I was rushing at the time. He had aluminum and a few of each of the proof sets but he was missing most of the early coinage and the cu/ ni. It would have been difficult making money on these coins back in those days because of the very weak demand and low prices. Today this material would move well but Krause prices have barely changed.

I sure would like to have a lot of the old gem cu/ ni & nickel and a lots of '69 proof sets.

 

Dear Greg,

will you go on a mission for me?

 

there is only one set og 69's that i know of that isnt contaminated by pvc

 

I dismantle most of these sets and stabilize the coins in acetone and then store them properly. Usually you can get the coins back in the packaging if you want.

This is a problem with many world moderns. Not only is there no supply of many of the coins but even those which appear in set can be almost universally damaged. I think the very worst are the '75 Japanese copper coins.

You're right though that the '69 Indian coins are heavily damaged and have suffered significant attrition for this reason. It's really pretty ludicrous; they made only 9,000 of these coins and probably 80% of the surviving sets have significant damage because of PVC. No doubt many of these were just melted for the silver since they were a mess and cheap.

If India developes the kind of middle class that the US has it's hard to imagine how a couple thousand coins will satisfy the demands of a billion people.

But what if the demand for something like a '62 1 R is twenty times as great. As near as I can tell there are none in India and none in the US. "None" is a pretty big number but the point is they just don't appear. Most all of the Indian circulation issues are very very tough in gem condition.

 

manna from heaven where were you all those years. If you are a dealer PM me

Yeah i have a great 69 set all ngc pcgs graded (without pvc). its a sleeping dinosaur in twenty years thousands of dollars wont be able to buy you a undamaged set

 

Indian coins have been way under-appreciated. Some of the older coinages were struck in just tens of thousands whereas the current Indian population is way over a billion. The same applies to Chinese and Russian coins where the general population is getting wealthier - they got more funds to blow their money on.

 

That's what the problem is with Indian coins....Low mintages and crappy mint order policy ensures only a lucky few with big pockets get their hands on all the good stuff. I can only spare about $25 per month on my coin purchases and rely heavily on circulation finds. I started buying recently from ebay but the huge premium I have to pay for all the low grade stuff just to complete my type set sucks.

 

There are relatively few Chinese coins I like. They will most all increase probably and they're all great collectibles but my favorite coins are ones that circulated heavily with little attention paid to them. I think this applies to the '50's era aluminum and little else. These still list for next to nothing but are rarely seen in new condition.

There are a lot of Russian coins that fit this category. Coin collecting was actively discouraged in the Soviet era so there were few who collected. Among those they mostly were interested only in the czarist coins ond older. The early Soviet coins can be tough but they are out there. The '30's to '61 exist in unc but they are not as common as the catalog suggests. Nice exmples are common. The '62 and later coins can be tough in unc and worn coins are seen infrequently enough that one suspects they were melted.

 

KidRomeo; I hadn't noticed your sig-line. Gandhi is one of my greatest heroes. This is part of my affinity for the '69 proof set.

It takes a long time to build up a collection. Keep working on it and you might be surprised how fast it can grow.

 

Thanks for the wish mate.

 

You really shouldnt be keeping the 69 coins if he is your hero. he was against hoarding