Numismatic (coins and notes) investment

niftyoption

Well-Known Member
Pune’s Narendra Tole turns a Hobby into the city’s First Coin Museum

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Narendra Tole was unlike other kids his age—he saved his pocket money, rather than spent it. And while other kids were busy bullying other kids and knocking about on bicycles, Tole collected rare coins.

However, today, unlike most other numismatists, Tole’s passion is embodied in a museum he set up in Pune. Inaugurated in November last year, the Yashlaxmi Numismatic Museum is the city’s first and only coin museum. On display is this 65-year-old’s collection of over 60,000 currency notes and 25,000 coins from 220 countries. “I would collect foreign coins from hotels and airports. I would even request foreign tourists to part with their money to add to my collection when I was a student,” he laughs.

“Exchanging coins with other enthusiasts who had currency I did not possess has also helped, apart from family and friends who have always humoured me,” beams Tole, whose pride and joy is an 801-year-old fanam that dates back to the Vijaynagar era. “It is made of gold and weighs just 0.4 grams. The heaviest coin I own is a silver Australian Kookaburra that weighs 1 kilo,” he reveals, as if sharing a secret.

Whereas some of Tole’s recent Indian coins have come from the Reserve Bank of India and others were coin sets he purchased from the governments of various countries, other rare pieces were not easy to come by. For instance, since work commitments keep him rooted in India, he sometimes dispatches a trusted aide abroad to procure rare proof sets. “It’s expensive all right but when you really, really want something, you will go to any lengths to get it,” says Tole.

Now hunting down rare and elusive coins is par for the course for the numismatist, whose oldest pieces date back to the 4th and 6th centuries BC. The European influence in India in his collection is represented in Portuguese, Dutch, French and Greek coins. Indian coins of various dynasties and empires have scripts ranging from Urdu, Farsi, Modi, Arabic, Ardhamagadhi and Brahmi. He also has a handful of uncirculated coins from the Republic of India. “Just as parents can never differentiate between their kids, I can’t either. Every coin and note in my collection is special to me,” says Tole with ‘parental’ pride. Bubbling with enthusiasm, he adds, “I also have weighing scales for metals used to weigh coins, and magnifying glasses to examine minute details in currency notes.”

But there’s a flipside to collecting coins—losing them. Brow furrowed, a woeful Tole says he has no clue to what happened to a unique set of 36 gold notes from Belize in Central America that was a part of his precious collection. “I don’t know who took it or how it got lost.”

Back to his pet project and this Puneite is all smiles again. He says he named his museum ‘Yashlaxmi’ after his parents. “My father was ‘Yashwant’ and my mother ‘Laxmi’. I know their blessings are with me. Laxmi also means ‘wealth’, and coins and currency are, after all, Laxmi.” The 1,000-sq ft museum is open from 5 pm to 8 pm every day except Mondays and charges no entry fee. The exhibits are self-explanatory, each one bearing a description of the coin and its unique place in history. For those who want to lean more, there’s Shashank Maity, a guide who is happy to oblige. But setting it was no mean feat. After pulling out his collection from cupboards, where Tole had stored it, it took him months to separate, classify and label each exhibit. After that, he got custom-made furniture to display his collection in a systematic yet tasteful manner. Installing a security system came next and, with his heart in his mouth, he finally turned over his precious collection to the care of cameras, monitors and security guards.

“I got the idea of setting up a museum while touring various cities to exhibit my collection. This was cumbersome and fraught with many risks. So I decided that bringing visitors to my collection would be easier than taking it to them,” Tole explains, adding that it took only seven months to give his dream concrete shape. Intent on encouraging school children to cultivate hobbies, Tole arranges special trips to his coin museum. “I manage a transport business and it is easy to arrange field trips. I bought a Maruti Omni especially to ferry children from schools to my museum. I hope that, some day, numismatics can be introduced as a subject or a separate stream in colleges and universities as it holds a wealth of knowledge for students.”

And his efforts are already paying off. The museum receives 15-20 visitors a day on weekdays and more on weekends. “From waada [mansion] to the home of coins…Narendra Tole has brought laurels to the city of Pune,” reads a comment in the visitors’ book at the museum’s door. A 13-year-old wrote that he had no interest in coins but ever since his dad “dragged him to the museum on a Sunday evening”, he decided to become a numismatist. Passionate as Tole is about his pet preoccupation, he has time for family and friends, apart from running his business. “It is a matter of pride to see a man with a minimum education and who once did every possible job to earn a livelihood, have his very own museum. And although he is so passionate about his coins, he is always there for us when we need him. He is the rock of our family,” says Tole’s wife Aruna. As for his daughter, Namita, is learning the ropes to carry her father’s legacy forward. “People who are geniuses tend to be a little obsessive and extreme. So, as a child, I used to watch my father drown himself in his collection. He used to fuss over small little things like not getting the right size glass frame for his unique coins and notes. Now, when I look back, it was all worth it. This museum is his baby."


SOURCE : Khursheed Dinshaw - http://www.harmonyindia.org/hportal/VirtualPageView.jsp?page_id=16395
 

niftyoption

Well-Known Member
PROOF COINS WHAT ARE THEY?





To understand the difference between a proof and un-circulated coin, let's first answer the question,

"What is an un-circulated coin?"

Uncirculated means a coin has not had any wear, such as the wear a coin might experience when it is used in commerce. Handling a coin, as well as improperly storing a coin, can result in wear on the surface of the coin. This wear, even if very minor, will cause a coin to no longer grade uncirculated.
"Bag Marks"

When coins are minted they often bump into each other and receive small nicks and abrasion marks during the production process. These marks also occur as coins are transported in large canvas bags. These marks, sometimes called "bag marks", are more noticeable on larger coins, such as half dollars and dollars. Typical "bag marks" do not keep a coin from grading uncirculated. However, they can be an indicator of how high of a grade the un-circulated coin might receive.

Current accepted grading standards provide for a range of uncirculated grades, from the grade of MS-60 to MS-70. MS60 would be a lower grade (yet still) un-circulated coin with normal bag marks for that type of coin. Anything below MS-60 would not be considered uncirculated. MS70 would be the perfect "ideal" coin. Some coins are rare in grades MS65 to MS70, and even unheard of in MS70 grade. (The attribute "MS" stands for "mint state".)

An uncirculated coin may show tarnish, toning, spotting, or discoloration and still remain in uncirculated condition. Experts recommend you "never clean a tarnished coin", because most cleaning will cause wear on a coin, and thus lower its grade (and often its value).


What's a proof coin?

A newly minted proof coin is also Un-circulated, however it is the way it is made that causes a difference in appearance and qualifies it as a "proof". To understand this, let's look at how coins are made. Coins are produced when two dies strike a blank piece of metal with tremendous force. One die is engraved with the front (obverse) design for the coin. The other die has the back (reverse) coin design on it.

A proof coin is made with
a specially polished and treated die!

By treating the die in a special way, the coins it produces have a different appearance. Modern technology allows the high points on the coin design to be acid treated (on the die). The background (field) design of the coin die is polished, resulting in a mirror-like look on the coin it strikes. This gives the finished coin a frosted look (frosting) on the raise parts of the design, with a mirror like finish on the background. This contrasting finish is often called "cameo". (See picture above.) On some older coins a cameo appearance is quite rare. The attribute "CAM", when added to a coin's description, means cameo appearance. "DCAM" means deep cameo, and indicates the cameo appearance is strong and easy to observe.

Proof coins are struck twice, or more!

Not only are proofs made using specially treated dies, each coin is struck two or more times by the coin die. By striking it more than once the metal is forced into all the crevices of the die, thereby giving a very fine detail to the image on the coin. This fine detail does not appear on some non-proof coins.

Grading proofs

Today's grading of proofs is similar to the grades used for un circulated coins. The attribute "PR" or "PF" stands for "proof", and is used instead of the MS (mint state) to indicate a proof coin. Proofs (that are also un-circulated) will be graded PR 60 to PR70, with PR70 being rare or nonexistent in some cases. Because a proof coin can be mishandled or receive wear by cleaning or handling, proof grades can extend below PR 60. Example, a PR50 grade proof coin, is one that has had a touch of wear on the high points of the coin. Like un circulated coins, proofs can experience toning, tarnish or darkening.

Rarity and the Cost of Proofs

Because of the extra effort, time, labor and production costs in making a proof coin, the respective government mints often sell them at higher prices. In many instances the production of proof coins is limited. The end result is that usually, but not always, a proof coin of the same date will be more expensive than a non-proof un circulated.

For most United States gold and silver coins, the proofs have the same amount of precious metal in them as non-proof uncirculated coins.


Source :http://lynncoins.com/proofcoin_article.htm
 

niftyoption

Well-Known Member
Salar Jung Museum - Hyderabad




Brief History and Evolution of the Museum:

The Salar Jung Museum of Hyderabad is a repository of the artistic achievements of diverse European, Asian and Far Eastern countries of the world. The major portion of this collection was acquired by Nawab Mir Yousuf Ali Khan popularly known as Salar Jung III. The zeal for acquiring art objects continued as a family tradition for three generations of Salar Jungs. In 1914, Salar Jung III, after having relinquished the post of Prime Minister to H.E.H., the Nizam VII, Nawab Mir Osman Ali Khan, devoted rest of his entire life in collecting and enriching the treasures of art and literature till he lived. The precious and rare art objects collected by him for a period of over forty years, find place in the portals of the Salar Jung Museum, as rare to very rare pieces of art.

After the demise of Salar Jung-III, the vast collection of precious art objects and his Library which were housed in "Dewan-Deodi" the ancestral palace of the Salar Jungs, the desirability of organizing a Museum out of the Nawab's collection dawned quite soon and Sri M.K. Velodi, the then Chief Civil Administrator of the Hyderabad State approached Dr.James Cousins a well known art critic, to organize the various objects of art and curios which were lying scattered in different palaces of Salar Jung III to form a Museum.

With a view to perpetuate the name of Salar Jung as a world renowned art connoisseur, the Salar Jung Museum was brought in to existence and was opened to the public by Pandit Jawaharlal Nehru, the then Prime Minister of India on 16th December, 1951.

However, the administration of the Museum continued to be vested in the Salar Jung Estate Committee till 1958. Thereafter, the heirs of Salar Jung Bahadur graciously agreed to donate the entire collection to the Government of India through a Compromise Deed based on a High Court Decree on 26th December l958. The Museum continued to be administered directly by the Government of India till 1961. Through an Act of Parliament (Act of 26 of 1961) the Salar Jung Museum with its Library was declared to be an Institution of National Importance. The administration was entrusted to an Autonomous Board of Trustees with the Governor of Andhra Pradesh as its Ex-officio Chairman and ten other members representing the Government of India, the State of Andhra Pradesh, Osmania University and one from the family of Salar Jungs.



Nawab Mir Yousuf Ali Khan Bahadur Salar Jung – III



The Salar Jung's family has a glorious past with great qualities of statesmanship for generations and rich contributions from the family towards the vast collection of art objects, manuscripts and printed books, which now find a place in the museum.

It is evident that the treasures which the last Salar Jung inherited only added to the vast acquisitions which Salar Jung III made, that too with the zeal of a real collector. This went on for forty years till he passed away on 2nd March, 1949. The then Military Governor declared a public holiday as a mark of respect to this great man, who was a premier noble and Ex-Prime Minister of the old order. The Hyderabad Art Society convened a meeting and passed a resolution of condolence. The Society also resolved that a Museum be opened associated with his name.


Location: HYDERABAD



The present museum building was constructed on the southern bank of River Musi, which is in close proximity to the important monuments of old city of Hyderabad like the historic Charminar, Mecca Masjid etc. The collections of the Museum and the library were transferred from Dewan Deodi to the new building in the year 1968, and two more buildings were added in the year 2000.


Collection of Objects:



The Museum has a magnificent global collection of art objects and antiques not only of Indian origin, but mostly from countries Western, a sizable collection hails from Middle Eastern and Far Eastern origins. Apart from these, there is a Children's section, a rich reference library which contains reference books, large collection of rare manuscripts etc. Thus, this Museum has become popular, not only as a place of interest but also as an institution for education.

Out of the several rare objects, one of the important and interesting object collected by Salar Jung I was “Vellied Rebecca” an enchanting marble statue which was acquired by him from Rome in 1876 during his visit to Italy. The western collection are from England, Ireland, France, Belgium, Italy, Germany. A set of Ivory chairs said to have been presented by Louis XVI of France to Tippu Sultan of Mysore deserve special mention. A jade book-stand “Rehal” having the name of ‘Shamsuddin Altamish’, an archer’s ring inscribed with the legend Sahib-e-Quran-e-Sani, title of the Mughal Emperor, Shahjahan are masterpieces. A dagger and a fruit knife made in jade decorated with precious stones are said to belong to Jehangir and Noorjehan respectively. A good number of Indian Miniature Paintings in early style of Western India of 14th and 15th Centuries representing Krishna Leela themes are also form part of the Museum’s Collection. There are good number of Arabic and Persian Manuscripts dated to 19th century and Shah-nama by Furadausi are also among the valuable collection of the Museum. A rare manuscript entitled ‘Lilawati” on mathematics and an ancient medical encyclopedia transcribed in India is in the collection. Oil and water paintings form an important part of the European collections.


Activities of the Museum:

The Museum is regularly organizing special exhibitions and workshops in collaboration with International Museums and organizations. The museum publishes guide-Books, brochures, research Journals, and books on selected subjects in English, Hindi and Urdu languages. Seminars and workshops are being organized on special occasions such as – Birthday celebrations of Salar Jung III, Museum Week, Children’s Week etc., as part of its educational activities. As one of the museums of “National importance” in India, the Salar Jung Museum is meant to function as a cultural centre through its exhibits, research projects and planned activities as a cultural centre both in educational and as a centre of national integration.

Source : http://salarjungmuseum.in/html/collections.html#
 

niftyoption

Well-Known Member
My Personal Collection

COMMEMORATION OF THE OLYMPIC GAMES MELBORNE 1956 FENCING MEDAL






:)
 

niftyoption

Well-Known Member


WRITING ON CURRENCY NOTES

EVERY YEAR INDIA LOST 2638 CRORES ......

WE MUST SPREAD THIS TO ALL AND SAVE MONEY ...IT MAY USE TO DEFENSE SECTOR .....

PLEASE SPREAD IT TO ALL BROTHERS ....


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niftyoption

Well-Known Member
My Personal Note Collection .... 50Ruppees note....Governor "Vimal Zalan " fancy number 012345
:)

 
Maybe the following misprinted currency will now become a collector's item.

Ex RBI governor’s name on rupee notes led to Rs 37 cr loss
HT Correspondent, Hindustan Times, New Delhi| Updated: Jul 31, 2015 09:57 IST

The Security Printing and Minting Corporation of India Limited continued to print Rs 20, Rs 100 and Rs 500 denomination notes with the signature of a former RBI governor in 2014 even though the governor had completed his tenure in September 2013, thereby incurring an infructuous expenditure of Rs 36.69 crore, the CAG has said in its latest compliance report on a few PSUs of the finance ministry.

D Subbarao, who was the RBI governor from September 5, 2008, to September 4, 2013, preceded Raghuram Rajan, who took over on September 4, 2013.

Despite instructions from RBI, the Bank Note Press (BNP) in Dewas, Madhya Pradesh, did not incorporate the signature of the new RBI governor with effect from January 1, 2014 but continued printing bank notes with Subbarao’s signature till February 25, 2014.

“BNP printed 372 million pieces (mpcs) of bank notes during January to February 2014 and remitted 146 mpcs to various regional offices of the RBI which intimated on February 25, 2014, that printing of notes with the signature of the former RBI governor was not in order and directed the company not to remit such notes forthwith,” the CAG stated.

The latest CAG report on 46 PSUs under 14 ministries and departments, tabled in the Rajya Sabha on Thursday, has financial implication of Rs 9,034.13 crore.

http://www.hindustantimes.com/india...es-led-to-rs-37-cr-loss/article1-1374918.aspx