By Richard Giedroyc, World Coin News December 14, 2009

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.



More Resources:

• Standard Catalog of United States Obsolete Bank Notes 4-CD Set, 1782-1866

• Fascinating Facts, Mysteries & Myths About U.S. Coins

• 2010 Standard Catalog of World Coins 2001-Date, 4th Edition

• State Quarters Deluxe Collector's Folder