Saturday, April 9, 2011

1000 rupee coin to be released


Yes, yes. I know. The denomination face is nowhere to be seen so how do we know if its a 1000 rupee coin or 100 rupee coin. I was facing the same doubt myself having seen this same picture on a number of sites. But last Sunday I went to this exhibition in Pragati Maidan in New Delhi. It was a stamp exhibition but there was also a stall by the Mumbai mint. This one was on display there along with a few others. I saw it with my own eyes and so I believe what so far I believed was only a rumour.


Brihadeeswar temple 1000 rupee coin
brahadeeswar temple tanjore coin

Now I do know that a 1000 rupee coin will come out, and in what design it will come out. But I am still not sure what will be the booking price. The mint representative said that it will be having 90% silver content, as opposed to 50% silver in 100 rupee coins. So i assume that its booking price would be at least 8-10k for proof set and about 10-20% less of that for the UNC set. But here comes the dampener: As per some speculations, the cost of proof set could be higher than 20,000 rupees. And if that is the case and you are looking to have this one for your collection, then I would suggest you not to buy any coins for 1-2 months so that you can have enough liquidity for buying this one. Forewarned is forearmed.

Bookings are expected to begin in March.

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