NUMISMATISTS EDUCATE GOVERNMENT ON COIN VALUES

The TTD may be selling demonetised and out of circulation coins to Steel Authority of India Limited based on their [face] value, while the numismatic value of these coins is several dozen times higher. Some of the coins are rare and command a price of thousands of rupees in the world numismatic market. Coin experts suggest that the TTD segregate the coins based on their antique or numismatic value and dispose of the others. TTD, which is a quasi-government body, cannot sell demonetised and out of circulation coins at a price higher than their face value, though the coins command a higher price in the numismatic market.

"A group of numismatists from the South Indian Numismatic Society led by its vice-president D Raja Reddy were engaged by the Tirumala Tirupati Devasthanams to advice it on sorting out the coins. The group spent nearly six months at TTD treasury and Parakamani wing at Tirupati. What had astonished the group was the hundi at Tirumala was receiving gold coins minted as early as 1st century CE even in the 21st century.

The group had advised the temple administration to preserve coins minted before 1947 as they carry historical significance while other voluminous coins minted after 1950s could be disposed of as per government procedures.

To read the complete article, see:
Numismatic society advises TTD to preserve antique coins (https://timesofindia.indiatimes.com/city/vijayawada/numismatic-society-advises-ttd-to-preserve-antique-coins/articleshow/73643071.cms)

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