Portuguese India

Many of us probably think of the British as the European influence when we talk of the "colonial rulers" of India. Fact is, even though the British ruled large swathes of India, and some dominions were under their influence and paid patronage to them, they were not the only colonial rulers of India. Certain parts of India were also under other European powers. Pondicherry was under French rule, some parts were under Danish rule and Goa was under Portuguese rule.

In fact the Portuguese were the longest ruling colonial power in India. Portuguese influence had started shortly after Vasco Da Gama landed in the now Goa region after completing a dangerous journey around Africa via the Cape of Good Hope. The Portuguese Viceroyalty started in 1505 and it was only after a eternal wait of 451 years that India could wrest back Goa from the Portuguese on December 19, 1961. At the time of indepedence in 1947, the Portuguese had held a number of colonies in India including Goa, Dadar and Nagar Haveli, Daman and Diu.

Starting in 1950, the Government of India had attempted to make diplomatic dialogue with the Portuguese government in Goa, which asserted that the territory was not a colony but an integral part of Portugal. Calls for freedom had begun as early as 1928 when the French-educated Goan nationalist Tristao de Braganza Cunha organized the first independence movement to liberate the colony. Cunha, who was instrumental in coordinating the many disparate freedom movements within Goa, was made a state prisoner and confined first at Fort Aguada, Goa and then at the Peniche prison in Portugal. Cunha died in 1958, by which time the movement to free Goa had built up momentum. In addition to the nonviolent methods adopted by Cunha and his Gandhian supporter Ram Manohar Lohia, groups like the Azad Gomantak Dal and United Front of Goans, supported by the Indian government, used force to attempt to unseat the Portuguese government. After a series of incidents, Indian forces stormed Goa by land, air and sea and liberated the coastal enclave after a 48-hour operation. The Goa episode was hotly debated across the world when a United Nations Security Council draft resolution spearheaded by the United States calling for a ceasefire in Goa was vetoed by the Soviet Union, India’s Cold War ally. India’s ties with Portugal were suspended until they were restored in 1974 after the authoritarian ruler António de Oliveira Salazar’s regime was overthrown in 1968.

The Goan fight for independence was the theme for the movie 'Johar Mehmood in Goa' starring IS Johar and Mehmood. Those who have seen the movie may remember the song:

Sikandar Bhi Aaye Kalandar Bhi Aaye
na Koyi Raha Hai Na Koyi Rahega
hai Tere Jaane Ki Baari Videshi
ye Desh Aazaad Ho Ke Rahega
mera Desh Aazaad Ho Ke Rahega
na Koi Raha Hai na koi rahega

sikandar Ko Poras Ki Taaqat Ne Roka
gauri Ko Prithvi Ki Himmat Ne Toka
jab Khuuni Naadar Ne Chhedi Ladaayi
to Dilli Ki Galiyon Se Aavaaz Aayi
laga Le Tu Kitana Bhi Zor Ai Sitamagar
ye Desh Aazaad hoke rahega

parataap Ne Jaan De Di Vatan Pe
shivaaji Ne Bhagava Udaaya Gagan Pe
maradon Ne Khaayin Aazaadi Ki Kasamein
ada Auraton Ne Ki Jauhar Ki Rasmein
kafan Baandh Kar Raani Jhaansi Pukaari
ye Desh Aazaad hoke rahega


siraaj Aur Tipu Zafar Aur Naana
tha Har Ek Inamein Qaumi Deewaana
yahaan Le Ke Aaye Bagaavat Ki Aandhi
tilak Neharu Aazaad Netaaji Gaandhi
bhagat Sinh Ki Raakh Ne ye Pukaara
ye Desh Aazaad hoke rahega

halaaku Raha Hai Na Hitler Raha Hai
mussolini Ka Na Vo Lashkar Raha Hai
nahin Jab Raha Ruus Ka Czar Baaki
to Kaise Rahega Saalaazaar Baaki
goa Ka Har Bachcha Bachcha Pukaara
ye Desh Aazaad hoke rahega

kal Ko Agar Aaye Chaao Ya Maao
laga Denge Ham Zindagani Ka Daao
hamaara Hai Kashmir Nefa Hamaara
kabhi Jhuk sakega Na Jhanda Hamaara
zara Desh Ke Dushmanon Se Ye Kah Do
ye Desh Aazaad hoke rahega

About Delhi exhibition 2012

Though I would post about the Delhi exhibition which I recently visited and share my experience. I always suggest people to visit exhibitions so as to gain more knowledge and experience. In our first 3-4 exhibitions we should just look to gain knowledge, and refrain from buying. We should also try to interact with other collectors there and make contacts.

So this one was effectively my first exhibition since no exhibition was held in Delhi for almost 2 years now. And my experience was no less than perception-altering.

The first thing I got to notice is that people are labeling their poor quality worn out and washed coin as UNC. I was literally half-shocked as I thought all senior collectors/dealers must be having a good understanding of condition. As a matter of fact, until a few months back I considered myself a below par collector since I do not have the money and the rates make it difficult to collect. Where as in the past people could easily get condition and in cheap rates too. So I thought that just about every experienced collector would be having better collection than me. But that was until I met other collectors and saw their collection. Even though it was easy to collect in those times, people never put any sort of effort into their collection so their collection is below par in comparison to mine. Not a few people, but a majority of people do not have an understanding of condition and coin also. For such idiots their worn out coin is UNC and my UNC coin is polished or fake.

I also saw that every second person in the exhibition takes you to be a fool, and I got the impression that maybe I have the looks of a novice on me so they tried to make fool of me. I was offered some coins at high price and also saw some fakes for sale. I see that we have to be very careful while buying in exhibition it is very easy to get carried away by any seller and take some bad deal. Some place you see great condition but high price and some place the price is low but condition is not good.

In any exhibition, buying should never be your sole purpose. If its your first-second exhibition then look to study the market as much as you can and refrain from heavy buying. We should also aim to meet other collectors, share ideas, exchange contacts. That is the main benefit we can draw from an exhibition.

Why attend exhibitions?

I decided to put this one as a separate article as I am putting details of a number of exhibitions in this space. This is particularly for collectors who have never been to an exhibition, even though they may be collecting for some time.

If you are not having any good dealer in your city then exhibitions can be good way to enhance your collection. Dealers from all over India come to sell their coins in National level exhibitions under one roof. So you can get most of the coins you want in a single day. There are large variety of coins to choose from, more than what you can buy. Even if you are generally busy in your work you can still take out at least 1 day in an year and buy what you want for the entire year in that time. You can keep a budget of 15-20k whenever you visit an exhibition. Exhibitions are held many times an year at different cities throughout the country so you can also choose the location which suits you. You may visit as many exhibitions as you want throughout the year, and I would recommend visiting at least one in an year. If you are going for the first time, I would suggest to refrain from heavy buying and to observe as much as you can to learn.

Warning:
Even in an exhibition fakes can be there and there are sellers who look to fleece any new and unsuspecting buyers by selling at high prices, so better to keep your eyes and ears open.

How bimetallic coins are made?

Note that the shown process is for the Euro bimetallic coins. The process for making our 10 rupee bimetallic coins may be somewhat different from the shown procedure.

The coin collector's wife

Dedicated to All Coin Collectors' Wives
Author Unknown.

Here are two lines that you have all heard before, I think, from The Rime of the Ancient Mariner by Samuel Taylor Coleridge:

"Water, water everywhere, but not a drop to drink.
Shipwrecked people shout it, as they drift upon the sea,"

It sure is bad, but the saddest cry I've heard in my whole life
Is the one you hear, when you lend and ear, to the Coin Collector's Wife.

Money, money everywhere, but not a pice to spend;
If this keeps up, our marriage is coming to an end.
Money in every dresser drawer and money on the shelf;
But there isn't one thin pice to spend upon myself.
Silver rupees and nickel rupees , and golden fivers, too!
Some of them are old and worn, and some of them are new.
I wish my husband cared as much about the way I look. . . .
The paycheck that he gets doesn't seem to mean a thing to me,
'Cause hubby needs a Land Vital two rupee.
As soon as he gets the coin, he'll be looking for some other;
I think I'd be better off if I went on home to mother.
One day in desperation, I took a rupee two;
His yell can shatter the heavens, I tell you that is true!
Another time I took a coin that he said was a "proof;"
When I told him I spent it, I thought he'd raise the roof!
With all that money 'round the house, we're really very poor;
I'm getting sick and tired of it, of that I'm really sure!
So, I advise you, single girls, if you want a happy life;
Don't marry a coin collector and be a Coin Collector's Wife,
Shouting, "Money money everywhere and not a pice to spend;"
Don't ever let a coin collector be more than just a friend.

P.S. The poem was written by some collector in the U.S. ; and I modified it in the Indian context. Like, using rupees instead of dollars and pice in place of dime. BTW, I think your wives will like this one.
:P

Proof vs UNC coins

Many people have been asking me of late that what is the difference between proof and UNC coins? So I decided to put up a small one on this topic, as I believe that very few people are clear with this concept.Technically speaking, proof and UNC are different qualities. UNC is, by definition, an uncirculated coin which has mint lustre and has lots of shine to it. In case of a 100-year old coin, even if it has some shine it is liable to be classified as UNC. By definition, proof is the highest quality, even higher than UNC. So how can some coin have higher quality than even UNC coin, which is in its original state as it was when it was manufactured. The answer lies in the manufacturing process. The "proof" word is used as it is in dustproof, fireproof etc. by definition, a proof coin has to be at least double struck, and the blanks for preparing the coins are very carefully selected with a selection ratio of less than 20%. After the striking, again the selection ratio is less than 20%. Every sort of precaution has to be taken to ensure the quality of output. Proof coins are also polished and are shinier and have much better finish as compared to UNC coins. There is a higher level of contrast between the raised part and the shallow part in the design of the coin. The raised part is given a matt finish, which is achieved by sand-blasting the die. ordinary UNC coins (which had been circulated but have some lustre or shine usually have some bag marks, which are small scratches made during the handling of the coin, and these can be seen by magnifying the coin. On the other hand, a coin can be called a proof coin only if there are no scratches to be seen on it even when we look at it through a low power microscope.

All that being said, I am not sure whether these quality parameters are followed by Indian mints during production of the coins. It IS a fact that the term proof is a highly misused term, people often do not know the meaning but say they have a proof coin. Even many government mints also misuse the term as the stringent production process is not adhered to. So its hard to say whether the proper process is followed in the Indian mints or not. If you take out a proof coin from its packing and touch the coin, your fingerprints will come on the coin. If there is any such mark on the coin, it cannot be called a proof coin even though it may have the different mint mark. The quality of the proof coin is supposed to be better than that of a UNC coin, definitely not lower. Though if the coin is more than 100 years old, even a coin which does not have shine is called proof because it was made as a proof strike, that would be fair enough. Lets say we are talking of a William mohur or a Victoria sovereign of which a proof strike was made, we wont be getting that quality, but still its fair enough to call it proof because firstly, very very few such coins were made. And secondly, no coin would be existing on this date with the original manufacturing condition totally intact. If these coins have that finish, that is good enough.

Now we have a look at proof and UNC coins minted on the same theme minted by the Mumbai mint and compare them to see the difference. The theme of these coins is the first war of independence.

First war of independence UNC coin

Note the diamond mint mark below the date

First war of independence Proof coin

Note the 'M' mint mark below the date. The 'M' here stands for Mumbai as this coin was minted in the Mumbai mint.

P.S. Kolkata coins have no mint mark, so they cannot be differentiated by the mint mark.

Also, it is noteworthy to see that the proof and UNC coin shown here have difference as the proof coin is having much higher contrast, the raised part is white as it is coated and also it is shinier than the UNC coin.

For investment purpose the proof coins are generally a better bet as the value of proof coin is always higher than a UNC coin. That said, I would suggest people to buy what pleases them, and also the budget is always an essential factor in deciding what to buy and what not to buy.

Coin collection: Perception vs reality

Coin collection as a hobby has has always been seen as an eccentric one and collectors like myself are thought to be oddballs(not that we are totally normal ;). Like all other collectors would have been looked on as a freak at some or the other time and know what the popular perception regarding collectors is, may understand where I am getting at. This is a little attempt to change the perception of non-collectors, and I believe that there are quite a few regular visitors of this blog who are just having a passive interest and do not collect seriously or do not spend a size able amount on collecting.

Perception: Coin collection is exclusively for the rich baron types who have lots of spare money at their disposal.
Reality: Just about anyone, even a school student can collect, starting from the coins he or she may get in circulation or from perhaps some old coins from some relative. The only matter of concern is that one can only spend as much as the pocket.

Perception: coin collecting is about reckless spending of money.
Reality: Nothing can be farther from the truth. Even if you are as rich as the king of Egypt, you still cannot buy all the coins in the world. So to maximize the collection, the collector looks for the cheapest deal and is aware of the market prices of what he or she is buying. Most collectors are in the habit of a preliminary market survey before buying anything worth money. One may ask a fellow collector or cross check the value with some other dealer before buying.

Perception: Are you out of your mind?! What sort of a fool would spend 2000 rupees on a 100 rupee coin? You cannot get more than 100 rupees of worth if you give 100 rupees at a shop.
Reality: As a collector, I find this to be the silliest notion that I have ever encountered. If the face value of a coin is 10 rupees, then obviously one won't give it away for a worth of less than 10 rupees. But that's not all. Any coin can have value greater than its face value. In the case of 100 rupee coins, the coin is made of silver and easily has a value of 600 rupees on metal value alone, and the manufacturing cost to the government or mint is an estimated 1000 rupees, or about 10 times the face value. By the time the coin comes into the market, its value crosses 2000 rupees.(These are the estimates at the time when I post this, and values only increase over time). The value of a rare coin can be hundreds or even thousands of times its face value, based on the demand alone. Say if 4000 Tilakji coins are minted, and there are millions of collectors in India, then obviously the value of such a coin is going to be very high.

Perception: Spending on coins is blocking your money. Its a waste of money.
Reality: Buying coins a very good investment, the only prerequisite is that you need to have sufficient knowledge on the item and be aware of the market values. The prices go up more than prices of silver, gold or crude oil. The resale value of coins is unlike any other. People buy electronic items like blackberry for 40k and no one bats an eyelid, but when a collector spends 2500 on a 100 rupee coin he is said to be an idiot. The blackberry's value will be less than half in a few years and after use it has no resale value, whereas the value of coin will more than double in the same time. It has to be kept in mind that a collector invests in coins the money which he would otherwise have spent on movies, pizzas or electronic items and the like.

Perception: I heard that some coin was sold for lakhs of rupees. The buyer must be loaded with tons of spare money and he must be a real idiot. No one is going to buy for a higher price as the price is already too high.
Reality: The buyer would be having lots of money if he buys a single coin for over one lakh, that is undeniable. Personally I won't think of buying any item having cost more than 20 grand. But the catch is, any item which is fetching that high would definitely be a very very rare item, and prices of rare items go up very quickly indeed. Every time we think that the price won't go higher, we are proven wrong. The land resource 2 rupee was originally sold at 500 rupees, and that was thought to be high at that time. Now the price is 80-90k, and going up fast. The 1 rupee of 1960 was recently sold for 2.25 lakh, so you may dismiss the buyer as a complete idiot, but whenever it is sold next time, I believe the price would be in excess of 4 lakh. The 1913 liberty head nickel was sold for the first time in 1920 for 500$ apiece, or about 10,000 times the face value. Many may have dismissed the buyers as idiots, but its current value has risen to 5 million $ after changing hands many times over. Who would have thought the value would rise this much? And that the value would rise even further is inevitable.

Perception: I have over 100 rare coins which I would like to sell for thousands of rupees, East India Company coins with Indian deities which I want to sell for a couple of lakhs and also one 100 rupee coin which I want to sell for one crore. Any buyer please contact me @ 9899573xyz.
Reality: The only person you are fooling is yourself. Firstly, if you have 100 coins, then how can they be rare? The East India company coins with Indian deities are fake and have zero value. A 100 rupee coin is made of silver and the cost is a few thousand, but that is the case if the coin is in a set, and not a loose coin. A loose 100 rupee coin has value around the metal value, and there is no way the value of the set can go up to a crore. If you think that the value of any coin not found in circulation would be of the order of thousands or a few hundreds, then you are sorely mistaken. A coin not being in circulation does not mean it is rare; and if every coin had that sort of value, then no one would be able to collect because then the cost of collection would be too high.

Perception: coins are a way to earn quick bucks. I can simply find some valuable coin in circulation and sell it for thousands, or perhaps I can buy a coin at low cost and sell to some wealthy collector at really high cost.
Reality: Another delusion. As far as my experience goes, there is no such thing as quick money. Even if there is, it will never give you satisfaction. An iron clad rule of life: "Anything that comes easy is worthless". As far as coins go, if you can find something in circulation, then it won't be rare and not having high value. Collectors are always sharp at getting things in circulation. So if you are not a collector, forget about finding something valuable in circulation. Still, it is not uncommon to find items having value as something above face value in circulation. You canNOT make a valuable collection without buying, and for that sufficient knowledge is needed in the first place. The only way to make money through coins is through long term investments, and not any frivolous stupid activity.

P.S. An idiot once said to me that he had bought some East India company coins with Indian deities for thousands, thinking that he would sell them for a crore or so, and then he would marry Katrina Kaif. Such delusions! A modern day Shiekh Chilli, nevertheless.

"Only two things are infinite: the universe and human stupidity, and I am not so sure about the former."
-Albert Einstein

Coin handling and storage

HOLA! On popular demand I am posting this article on coin storage from which collectors can benefit. It is intended for beginners but I hope that seasoned collectors may also find it useful.

coin storage is always a big headache for all collectors. If you only collect casually and you have only a few coins, then it is easy to put them into some bowl or box or something. But as your collection increases, the need for proper storage becomes an issue. On a lighter note, too many coins can cause property disputes as they take to much space. Anyhow, if you have many coins and put them together in a box for a period of time, it is quite easy for the coins to get worn out when they come into contact with each other, and the value of the coin is lost. Casual collectors may not know this fact that coin values depend on the condition, apart from the rarity. So how to store them?

Self adhesive resealable pouches

These resealable pouches with self adhesive tape are the best low cost alternative for storage of coins. Albums or holders and sheets are costly and space consuming also. Compared to those, these are best for storage of coins, especially if the coin is having low value but we want to presereve its condition. Lets say we have some 1 rupee coins from circulation in UNC condition, then we would like to preserve their condition but wouldn't want to use holders which are more costly than the coin itself. In that sort of situation pouches like these are the best, and if the coin is small enough, we can store two similar coins in one pouch. The coin can be easily viewed through the pouch as the material is clear. It is non-reactive also so anything from silver to copper may be stored, it takes the least space (every collector has to face this problem as his collection grows), and it has a big advantage over the pouches with lock(shown at bottom) as luster is also preserved in these as opposed to the other pouches shown.

Ideally coins should be stored in proper coin holders, and the coins in the holders should be put into coin sheets or albums. The sheets can be put into sheet cover.

Coin Holder

The above figure shows a coin holder. A coin can be placed inside a holder , then folded and stapled. This is a good way to store and preserve coins individually. Care has to be taken to hammer the staples flat or they can rub and tear into some other holder.

Coin sheets and cover

The above figure shows a number of coin sheets with holders put inside the slots for holders. The sheets are bound together by a cover. The holders can also be put in an album. Storing your coins this way makes them look good to anyone you want to showoff your collection.

Resealable plastic pouches

2 pound coin in pouch

1 pound welsh leek coin in pouch

When you have a small collection(less than 100 coins) then you can easily store in an album or sheets. But if your collection is large, then there is an issue of the cost involved in buying all these holders, albums and all. The more the coins, the more the cost. So I have an economical solution also: You can store in plastic pouches as shown above. These plastic pouches come in different sizes, are cheap and are easily available at your neighborhood store. The smallest size is the best fit for coins. They cost me about 10 rupees (or 0.2$) for a packet of 100 pouches, and that makes possible to store one coin in each pouch, no matter how low the value of the coin may be. (Though I can easily put 8-10 coins in one pouch of the second smallest size if I want to). Then I can group together the pouches by country or according to some other classification, and keep them in spare boxes that I may have in my home. But Please DO NOT keep silver coins in these pouches as the silver reacts with sulphur in the plastic and blackens, which decreases the desirability and mars the beauty of the coin. The coin holder shown above are better suited for keeping the silver coins as the film in the holders is some non-sulphur material, so silver coins kept in it do not blacken.


DONTS:

• Never keep your coins in one box as they rub against each other and condition goes down.
• Never bury them underground as they become dirty and also react with the water in soil.
• Dont store silver coins in the pouches with lock shown above.
• Never allow air access to UNC or otherwise valuable copper coins as copper is most reactive. It should be readily kept inside holder or self adhesive pouch.
• Dont use gel to store coppers as they blacken.

How to clean your coins?

Disclaimer: The material posted below has to be considered as my opinion only and if anyone wants to benefit from it, then he or she is free to do so. All the same, I will not be held responsible for any damages incurred to your coins when you are following my advice. I am not liable for any sort of indemnities due to degrading of the coins or any abrasions that occur while cleaning.

Tips:
The first thing to remember while cleaning your coins is that coin cleaning is not something that has to be done on a regular basis, or just to show that you are a clean person. What I mean is, it has to be kept in mind that cleaning may well cause decrease in the value of the coin. So, if the coin is one having high value or you are not sure on how to clean it then it is always preferable not to clean the coin. Anyone would not like to clean a UNC coin for one, even though it may have a coat of dust on it as cleaning it would result in loss of the original mint luster. Many collectors are interested in buying coins in their natural uncleaned state. Never clean any coin with tarnish remover or polish as removing the tarnish can cause small spots or abrasions which reduce the value. Remember that you cannot unclean an improperly cleaned coin.

Take your coins to a professional for cleaning and make it a habit to handle the coin from the edges as otherwise you are liable to leave your fingerprints on the coin. If your coins are so corroded that many details are not visible, then take them to some professional for advice.

If you absolutely must clean your coins then do so in a way which is least harmful to the condition of the coin. Experiment first on low value coins like foreign coins you can get from sellers on pavements before you go forward with cleaning your valuables. DO NOT use any harsh chemicals, metal brush etc which result in a smooth and shiny surface.

If you are selling any cleaned coins, then you must make this information prior knowledge to the buyer.

Silver coins:
Silver coins sometimes acquire a greenish or violet toning over time which can enhance the desirability of the coin. This should not be cleaned. If dirt has accumulated on the coin then you may clean the coin but remember that many collectors don't like to buy a coin that has been cleaned, or looks like it has been cleaned. You can clean silver coin with toothpaste foam and a soft toothbrush. The toothbrush has to be used carefully so that it does not cause any sort of abrasions.

Note: using toothpaste is advisable if there are black sulphide deposits on the surface of the coin, but it also takes away the shine of a UNC coin. For cleaning an XF coin it is ok, but to clean a silver coin having grade above XF, that is AUNC or UNC, it is better off cleaned with lemon so as not to lose the mint lustre.

Storage of silver coins is always an issue as they they react with sulfur present in the surroundings and turn black. If you keep the silver coins in plastic pouches or wrapped in paper, then they are bound to react with the sulfur and turn completely black, making them completely undesirable. Tarnished coins may be desirable but blackened coins are not. Silver coins should always be stored in coin holders available with the dealers which have a non-sulfur film.

Copper coins:
Copper is a metal which is probably the most reactive among all metals used to mint coins and it oxidizes very rapidly. Frequent or improper cleaning can very easily cause loss of metal and loss of value. Copper coins can be cleaned with dilute lemon juice and soft toothbrush and then rinsed. Remember that copper coins, though usually having low value and being easily available; are ruined very easily. I do not clean old copper coins which have a brown appearance as they should look that way only. They can be easily stored in plastic pouches. Copper coins start corroding the day after they are cleaned.

I have come to the conclusion that copper coins cannot be cleaned so easily. If stored improperly say in local coin albums, they soon become green because of reaction with the moisture, and cleaning with even lime would cause erosion of the metal and the resulting coin would be undesirable. Water would also react with copper so it cannot be cleaned with water. Copper coins are best left uncleaned or maybe given to some professional cleaner for cleaning.

Nickel coins:
Nickel coins can be cleaned with soap, water and toothbrush. Let the coin be dipped in the soap for 1-2 hours and then it can be scrubbed with the brush.

Rinsing can be done easily with a piece of cloth.

Expensive artificial cleaners available at shops should be avoided. DO NOT clean gold coins with jewelery cleaner . Neither should you dip silver coins in silver dip or polish them.

The methods and materials that I have listed here are definitely not professional ones, but they are the best possible solution in minimum cost. They are for the rational economic man. I DO NOT have any sort of experience in cleaning any valuable coins. The plus point of my methods is that just about anyone can clean their home very easily with little expertise or effort. I have focused more on providing the guidelines rather than the methods. This article is not copy pasted from somewhere, rather it comes from my own experience. Hope this will prove beneficial for beginners. I may edit this article in the future.

BIG Thanks!
Kulraj Singh

Coin Grading

Grade of the coin is what tells us about the quality of a coin. That is, how worn out a coin is or how good a condition is the coin in. Grading has nothing to do with the rarity or antiquity of a coin. Grading is essentially an art, which means that there is no standard or precise demarcation between the different grades, just a general guideline. Grading is done on an intuitive, judgmental basis, and grading done by two individuals may well differ. There is not even a standard accepted set of grades, but again some loosely defined grades with loose ends open for interpretation. I am putting up a list of grades, strating from the poorest, which in my opinion are the basic grades and are used in the terminology 90% of the time:

1)BASAL STATE: This type of coin is completely worn out and is barely recognizable to be a coin. No date, no features,no nothing can be seen. This is also rarely found and its value is the lowest.

2)POOR(PO): A little of the features are visible but again, very poor quality.

3)FAIR(F): With fair coins, you can see enough of the design and inscriptions to determine the coin's type - The coin above is an Edward VII florin. Depending upon the type of wear, the date may or may not be visible. The term "Fair" is sometimes also used to describe coins which are less worn than the coin above, but exhibit serious faults. Other examples of damaged coins include those that are bent, severely discoloured, rusty etc.

4) ABOUT GOOD/ALMOST GOOD(AG): Outlined design. Parts of date and legend worn smooth.This is a used up coin. You should be able to make out the date (possibly with some effort). Often, only parts of the last two digits will be visible.

5) GOOD(G): Outlined design. Parts of date and legend worn smooth. A good coin is heavily worn and shows little or no detail, but its design and legend are visible though faint in spots, and its date is legible.

6)VERY GOOD(VG): The design and legends of VG coins display little or none of the fuzziness of Good coins, yet the coins still fail to exhibit much detail. Take a look at the coin below - the king now enjoys the benefit of a full ear, but appears to suffer from extensive baldness.

7) FINE(F): Fine coins show some detail, and the main elements of their design appear clear and bold. Moderate to heavy even wear.

8)VERY FINE(VF): On Very Fine coins, all major features are sharp, but evidence of wear is apparent on the higher surfaces of the coin, and some fine detail will be worn or absent. The coins shown below, for example, has ample but incomplete hair detail, while the facial features of the lions within the shield will appear somewhat imprecise.

8) EXTREMELY FINE(EF/XF): Very light wear on only the highest points.Extremely Fine coins show evidence of handling on only their highest points. If you examine the above coin closely, you will find that some strands of hair appear flat in areas. EF coins that have suffered from little exposure to the elements and managed to retain most of their original mint lustre are often referred to as "Lustrous EF".

9)UNCIRCULATED(UNC): Uncirculated coins exhibit no wear at all, though small marks may be apparent as a result of contact with other coins at the mint and during transportation/packaging. These small marks are referred to as "bag marks" (BM). Coins which retain 100% of their original detail but show evidence of handling or minimal wear can be referred to as "AU" (about/almost uncirculated).

10) BRILLIANT UNCIRCULATED(BU): Uncirculated coins with full original mint lustre are referred to as "Brilliant Uncirculated". The coin shown in the picture is the golden £ 5, minted in 1988. A brilliant uncirculated coin should not show smudge marks even under a 30-point microscope, and is having proof-like characteristics. This one had a price tag of £525, and the bullion version released had a price of £325. So the buyers may have felt cheated as they bought this for more than double its cost in gold. The same coin released in 2008 has a price of euro 1390.

11)PROOF: This is the coin of the highest quality. It is minted under stringent quality norms and strict supervision. The metal for the coin is first carefully selected in which the selection % is barely 20%. Then it is struck at least twice with polished dies to produce an absolute mirror-like surface. You can easily see the reflection of the foreground in this 100 rupee coin.50% of this coin is silver. These proof coins also have an easily identifiable mint mark. This one had 'M' symbol on its reverse. Proof here is used as it is in waterproof and bulletproof, because this coin is proof of dust, smudge or bag marks and even the slightest wear and tear. Even its handling is done much more carefully as compared to an uncirculated coin and there is no chance of this coin getting wear and tear before reaching its intended recipient. I recieved this coin in a CD-mailer type air padded envelope.