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Thursday, March 22, 2012

Man jailed for selling counterfeit coins

New Delhi, Dec 28 (PTI) A Delhi court has jailed a man for three years and six months for selling counterfeit silver coins, purportedly of British India era, but actually having no silver content.

The court sent Satish Chander Chaturvedi to jail relying on expert reports, which said the coins recovered from the accused, were neither of British India nor made up of silver and were made up of ordinary metals.

"The convict (Chaturvedi) is engaged in cheating of false British India silver coins having no content of silver in it.
Whereas, the metal composition of genuine British India silver coins is silver 91.6 per cent and base metal 8.4 per cent.

"The act of the convict has shaken general public notion that such type of coins are made of silver as prescribed by the rule then, therefore, such act of cheating is taken a serious note of it," said District Judge I S Mehta, while also imposing a fine of Rs 5,000 on Chaturvedi.

Chaturvedi was arrested by the police on a complaint by Lalit Bhatia who said the accused had met him in December 2000 and told him that he was dealing in silver coins and jewellery and was having 4,000 silver coins of British era which he wanted to sell for Rs 50 each.

Bhatia said he agreed to purchase the coins and gave Rs 5,000 in advance to Chaturvedi who promised him to deliver 4,000 British India silver coins to him the next day in a hotel, Bhatia said.

The complainant said he suspected foul play after he inquired in the market and found that British India silver coins were not available merely for Rs 50 each. .


  1. Wonderful Blog Kulraj! I have learnt a lot from reading your amazing entries!

    I have a sneaking suspicion that this William 1/4 Rupee coin is a fake:

    I know you have mentioned earlier that you have not collected coins of William earlier but would appreciate if you could give your opinion.


  2. Well i am having William set as of now. This link you showed the coin is genuine but condition is poor.

  3. Thank you Kulraj.

    So I am guessing its not worth the Rs 5K that is listed.

  4. do you want 1862 1/2 rupee XF in this cost?