Blogs

Fate of the Fiat… Vivek Bhandari, June 2019    Picture 1 - Yugoslav 500Bn currency note Last month my daughter asked me to buy high denomination, defunct currency notes from certain east European, African and south American countries for a project. Of course I had read about hyperinflation in college. I do remember the turbulence in the Balkans in the early nineties. I also know that a number of governments and by extension their currencies have failed in the twentieth century. That said, I was still unprepared for the denominations that started jumping out at me. Right from hundreds of...

  The Iranian Riyal remains the world’s most worthless currency – with a black market rate of 112,000 to the US Dollar. The Riyal has held this spot for several years running now. The Vietnamese Dong comes in at number 23,800 to the greenback – so a 100,000 Dong note will be worth about 4 dollars, or just under 300 rupees. The Dong has risen to the second position after Venezuela abandoned its old currency (yet again) and went for a new one. Indonesia brings up the third spot – 14,000 Rupiah to the dollar, or 200 of them to...

  The Princely State of Kutch occupied the Kutch region of the modern-day state of Gujarat. It was one of the few princely states with its own coastline. Among numismatists, Kutch is known for its finely milled coins – copper as well as silver. The silver coins of Kutch are larger (13.90 grams) compared to the silver rupees minted by the British (11.67 grams). The silver content of these coins was also higher (0.937) compared to the British Indian Rupees (0.917). The most common coins of Kutch have been minted in the name of Khengarji – who was the ruler...

  A numismatist collects coins out of interest, not out of a desire to profit. However, if you are spending large sums on buying coins, it is worth considering whether these may be worth something in time of need. The value of a coin (precious metal) can be divided into two parts – the value of the underlying metal and the numismatic value of the coin. The numismatic value of a coin will also depend on factors such as rarity, antiquity and condition, which are subjective. The first question – the value of the underlying metal, is relatively easy to...

Most people start collecting coins when they find an interesting coin in their pocket change or have some coins left over from an overseas trip. In some cases, the numismatic journey starts with a few old copper coins found with a grandparent. A few lucky ones get to inherit collections – either from an older sibling/cousin or a relative. Regardless of where you start, as in any journey, the direction is more important than speed. So you want to collect coins. What are the dos and don’ts? Collect what interests you You will be spending a lot of time and...