COIN COLLECTION

COIN COLLECTING

It had been the hobby of Roman Emperors

The Emperors' of Kingdoms

The very wealthy and wise people

And the common people

One need not be rich to be a coin collector.

In fact, it's less expensive than many more popular hobbies.

But one can enjoy the richness of coin collecting.

And the wealth of history and art involved in creating the great coins.

Let us discuss much more here

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See http://hubpages.com/hub/GourdsbecomesGourde

VADODARA: Coins fascinate one and all right from childhood . But this charm fades with time. However, this was not true for SK Kapoor, who is all set to launch India's first private coin museum.

Displaying close to 10,000 coins, including many that date back to 6 century BC, ‘Shri Mudra Nidhi Coin Museum' " sprawling on a 4,500-sq ft land " has been constructed on an investment of Rs 1 crore near Ajwa-Nimeta garden by Kapoor's family. It will soon be formally inaugurated.

It tracks the journey of money from sea-shells to credit cards. Indian Institute of Research in Numismatic Studies also runs a coins museum at Nasik, but it is managed by a trust.

"Ours is managed by our family," says 71-year-old Kapoor, a retired bank manager , who started hunting for ancient Indian coins hidden under metal scrap from river beds before 15 years. Initially , 1,000 coins will be displayed and these will be changed regularly.

"Earlier, I used to collect commonly available coins, but later on I started collecting ancient Indian coins since each coin spoke of the history of the age to which it belonged," says Kapoor, who is also the vice-president of Museums Association of India, whose headquarters are at National Museum Institute, New Delhi.

He had earlier donated coins to MS University's (MSU's ) museology department and Sardar Patel University . "But, my friends suggested I start a museum. A year ago, when I discussed the proposal with my family and my elder brother, they helped me raise funds for setting up the museum."

Interestingly, Kapoor is neither a student of history nor numismatics - the science of coins. But, six years ago, he acquired a PG Diploma in museology from MSU's museology department.

Kapoor's hunt for coins was just not limited to riverbeds where he spent days together with ‘dhool dhoyas' (sandwashers) to collect coins. He has also travelled to ‘bartan bazaars' and scrap markets in Varanasi, Patiala, Jaipur, Amritsar, Ambala , Indore, Ujjain, Sanchi in the last 15 years. "I paid anywhere between Rs 500 and Rs 15,000 a kg for coins in corroded condition," he said.

thanks to THE ECONOMIC TIMS

Vintage one rupee coin auctioned for Rs 220,000

17 Aug, 2008, 1300 hrs IST, IANS

BANGALORE: It may sound unbelievable, but a vintage one rupee coin fetched Rs.220,000 at a numismatic auction in India's IT hub on the country's 62nd Independence Day.

The proud owner of the rare coin, minted in 1960, outbid stiff competition from two other rivals to pocket the prized possession.

"A record of sorts was created when the one-rupee coin of mintage 1960 went under the hammer for Rs.220,000. The coin is rarest of the rare, as it never came into circulation," auctioneer Farokh S. Todywalla told reporters.

"Considering its rarity, we were expecting a record prize. That's why the cut-off price for the bid was fixed at Rs.200,000," Todywalla recalled after the auction.

The Mumbai-based Todywalla Auctions is the only certified and licensed numismatic auctioneer in the country.

Todywalla, however, declined to name the new owner of the coin, citing confidentiality and security reasons.

"The coin, which fascinated everyone otherwise, looks ordinary though its design is quite different, with 'Sou Naye Paise' inscribed on top portion," Todywalla said, adding the coin had its own history.

Narrating the story behind the coin, Farok's son Malcolm told IANS the coin was minted at Bombay Mint in 1960.

"But it (the coin) never got the approval of senior officers for circulation. The reason behind the objection might have been the design. After its disapproval, the coin might have remained with an officer before it passed into the hands of a numismatist," Malcolm observed.

A Rs.10 gold coin from the British era with Queen Victoria's etching also garnered great interest among numismatists. It was auctioned for a whopping Rs.160,000.

The numismatic exposition showcased a large number of coins and banknotes. The exposition concludes Sunday.

"The exhibition has brought together a spectrum of Indian coinage and banknotes. Connoisseurs had a wonderful opportunity to see gold coins 2,200 years old," society member Murali Thanthry pointed out.

Formed in 1974 with about 500 members, the society is heartened at the overwhelming response to the show.

In all, 506 numismatic articles were listed to go under the gavel.

Rare hand-struck silver coins dating back to 200 BC, known as punched mark coins of Gandhara, which were in circulation during the time of Buddha; gold, silver and copper coins from the era of Kushans, Guptas, Mauryas and Mughal emperors Akbar, Jahangir and Shahjahan and Tipu Sultan of Mysore were some of the exclusive items put on auction.

Paper money, including a few Rs.1,000 Republic of India notes, which were de-monetised during the 1970s, several Rs.10 notes with a red under print and Rs.100 notes with a green under print; coins of erstwhile states such as Bhopal, Hyderabad and Tripura; foreign coins, tokens, rare post cards and an autograph of first 'Indian Idol' Abhijeet Sawant were also auctioned.

"These coins and banknotes are symbols of our history and culture. Such an exhibition is an eye-opener. All the displayed articles tell us some little known stories from the pages of history," said Vandana Gowda, a student of history at Mysore University, who travelled to this city to learn more about numismatics from the exhibition.

Thank to: THE ECONOMIC TIMES