2017-12-21 Thu

Indian coins and currency dating back to more than 2,500 years were showcased at a three-day exhibition by AIFACS. Close to 50 stalls and 25 collections were exhibited. The exhibition was held from 17th to 23rd November at Rafi Marg, New Delhi.

Collector and dealer Mukesh Verma set up the Royal Numismatic Society in December 2016 and has been collecting coins for a very long time. Bangalore based 51-year-old Rajender Maru runs the auction house Marudhar Arts and specialises in the currency of ancient India until the Mughal era. He said that Todywalla auctions sold a Mughal coin for 1 crore 50 lakh rupees. He also owns the only 1 rupee note signed by Mahatma Gandhi at Sabarmati Ashram. Demonetised notes from 1978 are sold for thousands today. He states that numismatics works to a market-decided format but knowledge is important as well.

Verma believes that there are least five lakh people who collect and selling old currency within India, some of whom have collections worth 600-700 crores. They may have a rare coin today but will wait to sell it so that its value appreciates over a period of years. He says that people need to understand the value of old coins and consider indulging in this hobby more seriously.