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How to Test Your silver coins

Posted by Amit Bhandari on

How to Test Your silver coins

A major concern for a coin collector is whether the coins you have bought are genuine. One simple test – which works for many modern coins, is the magnetic slide test. A brief explanation - unlike iron and nickel, copper and silver are not attracted to magnets. However, both silver and copper have a property called ‘diamagnetism’ – in plain language, these metals are repelled by a magnet. This effect is stronger in case of silver and can be noticed with naked eye, especially in case of silver if the magnet is powerful enough. Magnets made of neodymium, a rare...

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A Tale of Two Princes; Edward VIII & Harry

Posted by Amit Bhandari on

A Tale of Two Princes; Edward VIII & Harry

Picture 1: Silver 5 Kori of Kutch in name of Edward VIII The saga of Prince Harry and Meghan Markle has parallels to the story of another British royal from almost a century back – Edward VIII, later Duke of Windsor, one of the shortest reigning British monarchs. Edward VIII ascended the British throne on January 20th, 1936 and abdicated the throne in less than a year – on 11th December of the same year. Because of his short reign, Edward VIII, unlike the other British monarchs, wasn’t featured on too many coins. The Royal Mint produced a small number,...

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Economic History via Numismatics

Posted by Amit Bhandari on

Economic History via Numismatics

Gold, silver and copper have been used as money in India for over 2,000 years, and numismatics offers an interesting perspective on issues such as inflation and exchange rates. India’s modern currency, the ‘rupee’ dates back to the Mughal era, or rather, the reign of Sher Shah Suri, who introduced the first silver ‘rupiya’, a standardized coin weighing 11.4 grams (See Figure 1). This was adopted by the mughals and most of the other Indian rulers, and later on by the British, who introduced milled coinage to India. The earliest British coins minted in India were silver coins of a...

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The Half Anna

Posted by Amit Bhandari on

The Half Anna

The anna, together with the rupee and the paisa, formed the basis of the Indian currency system (1 Rupee = 16 anna = 64 paisa) till 1957. Higher denomination coins such as the rupee, half rupee were minted in silver while lower value coins such as one-quarter anna (1 paisa), 1/12 anna (one pie) or ½ pice were minted in copper and bronze. The half anna (1/32 rupee or 2 paisa) was the highest of these lower value copper/bronze coins. The first pan-India half anna coin was introduced in 1835 by the East India Company – this was a large...

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Story of the 1 Anna Coin

Posted by Amit Bhandari on

Story of the 1 Anna Coin

The anna, together with the rupee and the paisa, was the foundation of the Indian currency system (1 Rupee = 16 anna = 64 paisa). But remarkably, India did not have a 1 anna coin till 1907. During Edward VII’s reign, the first ever 1 anna coins were designed and minted – not before a lot of to and fro. The Indian Coinage Act of 1906 provided for a 1 anna nickel coin – a denomination that had not existed up to now. Coins of 2 anna and above were all silver, while smaller values were one-quarter anna (1 paisa),...

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