2016-08-23 Tue

A 16th century Jehangir 10 grams + gold zodiac mohur would be sold with a base price of 70 lakh along with 4,000 other such rare coins over the next few weeks.

The much-awaited Mumbai Coin Society Annual Fair which is scheduled in the third week of September would offer precious coins belonging to the Gupta Dynasty, Sultanate currencies, Presidency silvers, Mughal coinage, British India silvers and coppers, India states' issue, rare paper notes, medals, crests and badges. Rajender Maru from Bangalore-based Marudhar Arts, is excited about the event as a variety of rare coins would go under the hammer.

Farokh Todywalla of Todywalla Auctions, has plans to hold its online-cum-floor auction this weekend. The coins they offer start with a price of 1,800 and buyers have a chance to buy them at a good pricing.

Pre-bids for exclusive coins are on and the star cons of this season include: the Samudragupta gold dinar (`4.25 lakh), Muhammed Tughluq's gold tanka and Alamgir II gold mohur (`1.65 lakh each), Alamgir's Mumbai mint 11.55 gram gold mohur (`10 lakh), the Victoria Queen gold mohur (`4.5 lakh), Shah Shuja silver rupee (`7 lakh) and Prince Akbar II silver rupee (`5 lakh).

Apart from rarity, there are several other factors which decide the pricing. Coins issued by long-reigning emperors, those minted in women's names (Razia Sultan, Noorjehan, Naganika), unusual shapes such as octagonal ones issued by Shahs of Malwa, top-grade antique coins with deep-strike, on-centre imprints, limited edition proof coins samples minted by central banks for design selection, currencies with printing/minting errors, are some examples of coins which are highly priced and coveted by collectors.

New collectors should be careful while buying such rare coins and should do their research well.