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The grand chillar party
How often have you come across a Rs. 100 coin? Or a Rs. 1,000 coin, for that matter? People from the numismatic world would know these pretty well. If you’re an ardent coin collector or just about turning one, here’s some high-valued treasure to grab.
How often have you come across a Rs. 100 coin? Or a Rs. 1,000 coin, for that matter? People from the numismatic world would know these pretty well. If you’re an ardent coin collector or just about turning one, here’s some high-valued treasure to grab.
The Indian Government has been issuing odd denomination coins since pretty long, and the latest edition (`60) is up for booking till July 30. These coins — denominated at Rs. 50, 60, 75, 100, 150, 1000 — come under a special category of money and are meant to be collectibles and are not in circulation. They are issued by SPMCIL (Security and Minting Corporation of India Limited).
Mainly made up of silver composites (50% or above), they are priced far higher than their denomination. What’s more, they are scarce in availability, and you might just end up waiting for almost a year to own one, so it’s not everyday that you get a chance to own one.
The first such coin edition was rolled out in 1964, with a Jawaharlal Nehru imprint. Ever since then, there have been many issues from Indian Independence’s silver jubilee, to UN’s golden jubilee, and the latest roll-out being on the occasion of 1000 years of Tamil Nadu’s Brihadeeshwarar Temple.
How to get them
Where: http://igmmumbai.spmcil.com/Interface/SellableProducts.aspx
Price
A Rs. 1,000 coin is priced at around Rs. 5,000 (with 80% silver).The rest of the coins start at Rs. 2,900 (for a 50% silver composition)
Availabilty
1200-1500 sets (both domestic and international orders). Last date to book Rs. 60 coin: July 30.
(Photo credits: Kaushal Sindwani)
