India Too?

[Bill Snyder]

It seems that the prices of coins of British India have also risen substantially. (see below, from another Forum).

 

(Just thought it interesting)!

 

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Dear friends,

 

For all of you who collect British India gold , or for that matter

British India silver and copper, the last two years must have been a

combination of agony and ecstasy. The price seems to be on a one way

trajectory, up, meaning the value of your holdings has increased

manifold . At the same time , in case you have an unfinished set you

have to cough more to complete it.

 

As I remember it all started about 2 years ago with one major American

dealer advising his clients to invest in quality British India gold in

one of his news letters. Though many of us , I certainly was, could

have been sceptical about the advisibility of putting money in a

commodity coin such as British India gold, the recent Baldwin's auction

and the auctions on ebay have clearly vindicated his stand.

 

Not a long time ago, British India gold mohur used to be a commodity

coin with prices ranging from Rs 12000 to Rs 15000 a piece in Zaveri

Bazar here. The three major Delhi dealers also used to sell these coins

in this price range. These coins used to be available in quantity . But

not any more. Now a days , even prudent Indian dealers who are there in

the trade for the last 15 years are asking exhorbiant prices. In the

recently concluded Mumbai Coin Society exhibition here in Mumbai one

deal of a set of Mohurs from 1862 onwards was struck at an average

price of Rs 65000 /- to Rs 70000/-a piece. And that too this was a

dealer to dealer transaction.

 

The price of quality silver and copper in this series has also touched

the sky. And that too , when quality copper and silver coins are very

much available.

 

Is it worthwhile to put such kind of money in this series ? Will the

market hold in the long term for these coins? Or are we wintessing a

boom-bust phase for these coins- an instance of irrational exuberance

as the economists say??? Though such kind of Tulip mania is not

uncommon in the American Numismatic market, it is certainly new for

Indian coins. Though there are instances of individual coins falling in

value due to discovery of hoards , a full series rising in price like

this is certainly a first, at least for me for sure.

 

Please give your views.

 

And , what is the reason for this stratospheric price rise? Could

hoarding be responsible?

 

regards

 

Manoranjan Mahapatra

Mumbai

[gxseries]

Actually to make things more interesting, the relationship of India and Russia are closing up and if you didn't know, Moscow Mint did mint some coins for India.

[Scottishmoney]

I would expect interest in Indian coinages to pick up, what with the economy of India growing by leaps and bounds and people there having more disposable income. China will be next.