1. HANDLING OF A COIN
A Coin should always be held by its RIM/EDGE, with thumb and index finger. It should never be held from OBVERSE & REVERSE side, otherwise it will lose its weight and beauty. If possible the coins should be seen/checked where carpet or mat is spread over the floor, so as to reduce the climax of damaging the coin by falling.
2. SIDES OF A COIN
Every coin has two sides OBVERSE & REVERSE. Obverse is also called head. It is the main side of a coin carrying the potrait head of the ruler or a Symbol and name of the country. Reverse is the back side of a coin and is called Tail. It depicts the denomination or issue price the coin with year and mint mark underneath. However in all the commemorative coins issued in India, the denomination is given under the ASHOKA LION CAPITAL
3. EDGES OF COINS
There are four types of edges of coins.
i) Reeded Edge (Milled Edge, with cross serrations on Rim)
ii) Plain Edge (No mark on Rim)
iii) Security Edge (with a deep indentation on the Rim as if in Two parts)
iv) Oblique Edge (with serration at an Angle of 30'-45' degree to the Rim)
During the period 1835-2002, Coins with first three types of edges have been issued*
i) Reeded Edge (Milled edge) Cross cuts Serrations
ii) Plain Edge No mark of line or groove on edge.
iii) Security Edge Looks like Two parts
4. TECHNIQUE OF MINTING COINS
There are four methods of Minting Coins
i) Punch Marked
ii) Casting
iii) Repousse
iv) Die-Struck (Milled)
Since nineteenth Century, the die-struck milled method is being followed in every country. Machine minted coins have better finish, the labour cost is much reduced and output is manifold. In 1790, the above machines were bought from England, and manufacturing of Milled Coins started at Calcutta.
5. MINT MARK ON COINS (local & Foreign)
Indian coins since 1835-2002 have the following Mint Marks which are found under the date (year of issue) of the coin. Specific Mint Mark is assigned to a specific Mint, which are explained below:-
i) BOMBAY MINT (Mumbai)
The Bombay Mint has a small dot or diamond Mint mark under Date of the Coin.
ii) CALCUTTA MINT (Kolkata)
The Calcutta Mint has No Mint Mark beneath the date of coin.
iii) HYDERABAD MINT
The Hyderabad Mint has split diamond or a dot in diamond or five pointed STAR under the date of coin.
iv) LAHORE MINT
The lahore Mint has a letter "L" mint mark under the date of the coin. Production started on 5th October 1943 A.D.
v) NOIDA MINT
The Noida Mint has a small or thick dot under the date of the Coin. Production Started on 1-7-1988.
vi) PRETORIA MINT
The Pretoria Mint has diamond mark under the date 1943.
vii) SEOUL MINT (Hundal Corporation Seoul)
The Seoul mint has a "Five Point Star" under the date of the coin but exactly below the first or Last Digits of dates 1985 and 1997.
viii) ROYAL MINT LONDON at BIRMINGHAM
The Birmingham Mint has a small dot under the date of the coin but exactly below the first Digit of Date 1985.
ix) HEATON PRESS MINT
The Mint has Ornamental/ Decorated Letter "H" under the last digit of the date 1985.
x) ROYAL CANADIAN MINT OTTAWA
This Ottawa Mint has a " C" mint mark under the date of the Coin.
xi) MEXICO MINT
The Mexico City Mint has a "
" mint mark under the date of the Coin.
6. COMPOSITION OF METALS & ALLOYS USED IN MINTING INDIAN COINS
i) Gold (1835-1918)
ii) Standard Silver (1835-1939)
iii) Silver Alloy (1939-1945)
iv) Silver Alloy (1969-71)
v) Silver Alloy (1972-2011)
vi) Copper (1835-1906)
vii) Bronze (1906-1964)
viii) Copper-Nickel (1906-2011)
ix) Nickel Brass (1974-1971)
x) Nickel (1946-1974)
xi) Aluminium (1965-1993)
xii) Stainless Steel (1988-2011)
All gold and Silver Coins from 1835 to 1939 were of 22ct. or 91.7% purity. Generally all coins are manufactured of the metals in 5 to 10% less than the denomination i.e. issue value, so that these are neither minted fake nor melted for a small profit. As a result, this has to be done to maintain the relationship with the cost of production & face value of the coin.
7. SELECTION OF COINS FOR COLLECTION
Coins prior to 1901 should be of good and very good condition, and coins of after 1901 should be of very good and unc. condition if possible. All coins from 1835-1947 can be procured in unc. Condition but these are very costly. The new collector need to collect unc. coins issued prior to 1901. Mostly obsolete coins are not easily available in unc. condition.
8. CONDITONS OF COINS
Coins have been divided into three category, Good, Very Good & Uncirculated (unc.). Brief description of each category is as follow:
i) Good Coin
A coin which remained much in circulation but its legend on both sides should be easible legible. there should be no CUT or DENTURE mark on the coin. Such coins get minimum price, which is 15-20% above the metal value.
ii) Very Good Coin
A coin which remained less in circulation but its legend on obverse and Reverse should be legible without the help of magnifying glass and its letters and figure should be tangible if touched by the index finger. There should not be any cut or denture mark and also no spot of any chemical. Such coins gather more value than good coins, but these should be kept carefully in such a way that these should not touch each other, so that these should not lose its shine and luster.
iii) Un-Circulated (UNC) Coin
The Coins for daily use by general public are regularly issued by Reverse Bank of India. All these coins are uncirculated coins (unc) at the time of issue. However these coins should be collected a few, as otherwise there may be shortage of change in the country and it will be less economical.
Unc. coins are also issued for collector by India Government Mint, Mumbai & Kolkata, in Special packings.These coin are sold at premium. The Mints advertise in prominent website for sale and advance order are to be booked and paid in advance by bank draft. The demand draft for such unc. coins is to be sent at the following address:
9. PROOF SETS
Proof sets are issued by Government of India Mints Mumbai & Kolkata. The sets contain all the coins to be issued, with mirror-like luster and are specially packed. It also carries specification like: Weight, Dia. Metal Contents and Serration on the edge. The coins in the Proof sets of Mumbai have a special Mint mark "B" or "M" under the date on the reverse side. These coins are also sold at higher premium than unc. coins like unc. coins. The mint advertises for sale and advance orders are to be booked and paid in advance by bank draft, as in case of unc. sets. as stated above. There is no mint mark of Calcutta/Kolkata mint on proof coins also.
10. HOW TO EVALUATE COINS ?
We have already explained earlier about the three categories in which the coins are available. The market price depends on the condition and availability of the coin.
Some coins are less minted and are thus more costly.
11. RATE OF COINS
The rates are not mentioned in this website due to Unstability of market price.
12. MINTS IN INDIA
i) Before 1947, i.e. pre-partiton of India
There were four mints, namely at Bombay, Calcutta, Lahore and Madras.
ii) After 1947, i.e. Post partition of India.
There are four mints, namely Bombay, Calcutta, Hyderabad and Noida. After minting, they hand over the coins to the respective Reserve Banks of India, within their zones for putting into circulation.
iii) Due to scarcity of Coins, the Govt. of India got coins minted from several foreign mints.
13. CLEANING DIRTY COINS
The Collector should take great care in the cleaning of the coins. The coins should never be cleaned with any chemical or wire brush. The coins should be cleaned as follows:
a) Silver Coin may be cleaned with soap or tooth-powder and rubbed between the thumb and the index finger.
b) Copper, brass and bronze coins should be dipped in sour curd (khatta dahi) and rubbed with soft tooth-brush. The coins can also be cleaned in Tamarind (Imli) water and lemon juice diluted with water.
c) Copper and Bronze coins may have greenish deposit (patina) on them. These can be cleaned by dipping them in coconut or seasame oil and rubbing with the hard tooth-brush. Tamarind water or lemon juice can also be used. Any edible oil may also be applied to all absolete copper; Bronze and Brass Coins, for protecting them from the greenish deposit. However nothing should be applied to unc. Coins.
14. PRINCELY STATES CURRENCY
There are more than 500 princely states and Estated, but only 110 could issue their own Currency.
15. BRITISH RULERS OF INDIA
i) East India Company of England (U.K.) Since 1600-1858 in India
ii) William IV 1830-1837 A.D.
iii) Queen Victoria 1837-1901 A.D.
iv) Edward VII 1901-1910 A.D.
v) George V 1911-1936 A.D.
vi) Edward VIII 20th Jan. 1936-10 Dec. 1936*
vii) George VI 1936-1947 A.D. in India
* No coin Issued in India as he was not crowned
A Coin should always be held by its RIM/EDGE, with thumb and index finger. It should never be held from OBVERSE & REVERSE side, otherwise it will lose its weight and beauty. If possible the coins should be seen/checked where carpet or mat is spread over the floor, so as to reduce the climax of damaging the coin by falling.
2. SIDES OF A COIN
Every coin has two sides OBVERSE & REVERSE. Obverse is also called head. It is the main side of a coin carrying the potrait head of the ruler or a Symbol and name of the country. Reverse is the back side of a coin and is called Tail. It depicts the denomination or issue price the coin with year and mint mark underneath. However in all the commemorative coins issued in India, the denomination is given under the ASHOKA LION CAPITAL
3. EDGES OF COINS
There are four types of edges of coins.
i) Reeded Edge (Milled Edge, with cross serrations on Rim)
ii) Plain Edge (No mark on Rim)
iii) Security Edge (with a deep indentation on the Rim as if in Two parts)
iv) Oblique Edge (with serration at an Angle of 30'-45' degree to the Rim)
During the period 1835-2002, Coins with first three types of edges have been issued*
i) Reeded Edge (Milled edge) Cross cuts Serrations
ii) Plain Edge No mark of line or groove on edge.
iii) Security Edge Looks like Two parts
4. TECHNIQUE OF MINTING COINS
There are four methods of Minting Coins
i) Punch Marked
ii) Casting
iii) Repousse
iv) Die-Struck (Milled)
Since nineteenth Century, the die-struck milled method is being followed in every country. Machine minted coins have better finish, the labour cost is much reduced and output is manifold. In 1790, the above machines were bought from England, and manufacturing of Milled Coins started at Calcutta.
5. MINT MARK ON COINS (local & Foreign)
Indian coins since 1835-2002 have the following Mint Marks which are found under the date (year of issue) of the coin. Specific Mint Mark is assigned to a specific Mint, which are explained below:-
i) BOMBAY MINT (Mumbai)
The Bombay Mint has a small dot or diamond Mint mark under Date of the Coin.
ii) CALCUTTA MINT (Kolkata)
The Calcutta Mint has No Mint Mark beneath the date of coin.
iii) HYDERABAD MINT
The Hyderabad Mint has split diamond or a dot in diamond or five pointed STAR under the date of coin.
iv) LAHORE MINT
The lahore Mint has a letter "L" mint mark under the date of the coin. Production started on 5th October 1943 A.D.
v) NOIDA MINT
The Noida Mint has a small or thick dot under the date of the Coin. Production Started on 1-7-1988.
vi) PRETORIA MINT
The Pretoria Mint has diamond mark under the date 1943.
vii) SEOUL MINT (Hundal Corporation Seoul)
The Seoul mint has a "Five Point Star" under the date of the coin but exactly below the first or Last Digits of dates 1985 and 1997.
viii) ROYAL MINT LONDON at BIRMINGHAM
The Birmingham Mint has a small dot under the date of the coin but exactly below the first Digit of Date 1985.
ix) HEATON PRESS MINT
The Mint has Ornamental/ Decorated Letter "H" under the last digit of the date 1985.
x) ROYAL CANADIAN MINT OTTAWA
This Ottawa Mint has a " C" mint mark under the date of the Coin.
xi) MEXICO MINT
The Mexico City Mint has a "
" mint mark under the date of the Coin.
6. COMPOSITION OF METALS & ALLOYS USED IN MINTING INDIAN COINS
i) Gold (1835-1918)
ii) Standard Silver (1835-1939)
iii) Silver Alloy (1939-1945)
iv) Silver Alloy (1969-71)
v) Silver Alloy (1972-2011)
vi) Copper (1835-1906)
vii) Bronze (1906-1964)
viii) Copper-Nickel (1906-2011)
ix) Nickel Brass (1974-1971)
x) Nickel (1946-1974)
xi) Aluminium (1965-1993)
xii) Stainless Steel (1988-2011)
All gold and Silver Coins from 1835 to 1939 were of 22ct. or 91.7% purity. Generally all coins are manufactured of the metals in 5 to 10% less than the denomination i.e. issue value, so that these are neither minted fake nor melted for a small profit. As a result, this has to be done to maintain the relationship with the cost of production & face value of the coin.
7. SELECTION OF COINS FOR COLLECTION
Coins prior to 1901 should be of good and very good condition, and coins of after 1901 should be of very good and unc. condition if possible. All coins from 1835-1947 can be procured in unc. Condition but these are very costly. The new collector need to collect unc. coins issued prior to 1901. Mostly obsolete coins are not easily available in unc. condition.
8. CONDITONS OF COINS
Coins have been divided into three category, Good, Very Good & Uncirculated (unc.). Brief description of each category is as follow:
i) Good Coin
A coin which remained much in circulation but its legend on both sides should be easible legible. there should be no CUT or DENTURE mark on the coin. Such coins get minimum price, which is 15-20% above the metal value.
ii) Very Good Coin
A coin which remained less in circulation but its legend on obverse and Reverse should be legible without the help of magnifying glass and its letters and figure should be tangible if touched by the index finger. There should not be any cut or denture mark and also no spot of any chemical. Such coins gather more value than good coins, but these should be kept carefully in such a way that these should not touch each other, so that these should not lose its shine and luster.
iii) Un-Circulated (UNC) Coin
The Coins for daily use by general public are regularly issued by Reverse Bank of India. All these coins are uncirculated coins (unc) at the time of issue. However these coins should be collected a few, as otherwise there may be shortage of change in the country and it will be less economical.
Unc. coins are also issued for collector by India Government Mint, Mumbai & Kolkata, in Special packings.These coin are sold at premium. The Mints advertise in prominent website for sale and advance order are to be booked and paid in advance by bank draft. The demand draft for such unc. coins is to be sent at the following address:
9. PROOF SETS
Proof sets are issued by Government of India Mints Mumbai & Kolkata. The sets contain all the coins to be issued, with mirror-like luster and are specially packed. It also carries specification like: Weight, Dia. Metal Contents and Serration on the edge. The coins in the Proof sets of Mumbai have a special Mint mark "B" or "M" under the date on the reverse side. These coins are also sold at higher premium than unc. coins like unc. coins. The mint advertises for sale and advance orders are to be booked and paid in advance by bank draft, as in case of unc. sets. as stated above. There is no mint mark of Calcutta/Kolkata mint on proof coins also.
10. HOW TO EVALUATE COINS ?
We have already explained earlier about the three categories in which the coins are available. The market price depends on the condition and availability of the coin.
Some coins are less minted and are thus more costly.
11. RATE OF COINS
The rates are not mentioned in this website due to Unstability of market price.
12. MINTS IN INDIA
i) Before 1947, i.e. pre-partiton of India
There were four mints, namely at Bombay, Calcutta, Lahore and Madras.
ii) After 1947, i.e. Post partition of India.
There are four mints, namely Bombay, Calcutta, Hyderabad and Noida. After minting, they hand over the coins to the respective Reserve Banks of India, within their zones for putting into circulation.
iii) Due to scarcity of Coins, the Govt. of India got coins minted from several foreign mints.
13. CLEANING DIRTY COINS
The Collector should take great care in the cleaning of the coins. The coins should never be cleaned with any chemical or wire brush. The coins should be cleaned as follows:
a) Silver Coin may be cleaned with soap or tooth-powder and rubbed between the thumb and the index finger.
b) Copper, brass and bronze coins should be dipped in sour curd (khatta dahi) and rubbed with soft tooth-brush. The coins can also be cleaned in Tamarind (Imli) water and lemon juice diluted with water.
c) Copper and Bronze coins may have greenish deposit (patina) on them. These can be cleaned by dipping them in coconut or seasame oil and rubbing with the hard tooth-brush. Tamarind water or lemon juice can also be used. Any edible oil may also be applied to all absolete copper; Bronze and Brass Coins, for protecting them from the greenish deposit. However nothing should be applied to unc. Coins.
14. PRINCELY STATES CURRENCY
There are more than 500 princely states and Estated, but only 110 could issue their own Currency.
15. BRITISH RULERS OF INDIA
i) East India Company of England (U.K.) Since 1600-1858 in India
ii) William IV 1830-1837 A.D.
iii) Queen Victoria 1837-1901 A.D.
iv) Edward VII 1901-1910 A.D.
v) George V 1911-1936 A.D.
vi) Edward VIII 20th Jan. 1936-10 Dec. 1936*
vii) George VI 1936-1947 A.D. in India
* No coin Issued in India as he was not crowned
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