Minting on error: Rs. 5 coins go for Rs. 5,000
Minted for a special occasion, the 2010 Commonwealth Games in Delhi, some coins have become special, collector's item. With no denomination on them, each such 5-rupee coin is now selling for Rs. 5,000 or more.
Minted for a special occasion, the 2010 Commonwealth Games in Delhi, some coins have become special, collector's item. With no denomination on them, each such 5-rupee coin is now selling for Rs. 5,000 or more.
"While there have been errors on several occasions earlier, a coin without denomination has never been heard of. This could be a first in the history of Indian coinage," Ravi Shankar Sharma, coin collector and secretary of Numismatics Society of Kolkata, said.
The special coin was issued in denominations of Rs. 100, Rs. 5 and Rs. 2 in Kolkata. The coins of Rs. 5 and Rs. 2 denomination were minted at all four mints in the country.
"Recently, we came across a 5-rupee coin from the Calcutta mint with the normal reverse showing 'XIX Commonwealth Games, 2010- Delhi'. The coin had no denomination," said Sharma, who bought one such piece for Rs. 6,000.
"The issue has come to Reserve Bank of India's notice. We are investigating whether there was an error on our part or there is foul play," a senior RBI official said.