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Where have Rs 10 coins gone?

More than a year after its launch and amid Reserve Bank's claim that it had circulated 8 crore pieces of the ten-rupee coin, one wonders where the currency is?

delhi Updated: Jul 11, 2010 11:55 IST

More than a year after its launch and amid Reserve Bank's claim that it had circulated 8 crore pieces of the ten-rupee coin, one wonders where the currency is?

Launched with much fanfare as an alternative to paper currency, the 8-gm coin with golden rim is hard to find in the market place.

Experts have different opinions on the matter. While some say that since the dual-metal coin resembles the euro, people often keep it as a souvenir, others are of the view that Rs 10-coins becoming popular is just a matter of time.

Canara Bank's senior official Raj Kumar said: "The (Rs 10) coins have not become popular as people prefer to carry the note which is available in abundance." He added that the demand of Re 1 and Rs 2 coins is more as the currency notes of the same value are either not available or if available are in a poor condition. "Similar is the case with Rs 5 coins," Kumar said.

When contacted, an RBI official said that there is enough supply of Rs 10 coins in the market. Like other coins, with time it will become popular too.