Rabindranath Tagore proof set Rebooking

Rabindranath Tagore proof set re-booking 

Yet another re-booking. They are also increasing the booking rates quite sharply every 3-4 months, and doesn't look like justified to me. This is the third or fourth time Tagore sets have been released for booking, and a 5 rupee single proof coin is also available for booking. Don't know about you but I am rapidly losing interest in proof sets. The rates are shooting up which isn't justified as per me, and the coin quality is going down. The booking will be open from 16.8.2011 to 20.9.2011.

Check this link if you want to do booking:http://igmkolkata.spmcil.com/SPMCIL/Interface/Home.aspx 

Kolkata mint restrike sets

The following is an advertisement by the Kolkata mint in the Hindustan Times dated 28th March, 2010. It says that the booking for SBI, Bhagat Singh, Louis Braille, telecommunications, railways and 150 years of post will be issued from 1st April to 31st May, 2010. If you want to book the sets then you can go to the Kolkata mint site and book from there.

My opinion:

1) If say Indian post completes its 150 years in 2004, how can the coin be struck and released in 2010, a good 6 years after the celebration? Ditto for the SBI, telecommunication and post sets. If my birthday comes in December, how can i celebrate in June?

2) Coin collection has an investment side to it as coin values increase over time, some more than other. The value of commemorative sets can possibly double in a period of 2 years, no sweat. So I try to buy my sets at the earliest possible date so that I can get at cheapest cost. Today I am getting a coin for 1000, tomorrow I may not get for 2000. And I also value my collection because after all, it is my hard earned money. The value of coins appreciates and I want the value of my collection to increase over time, not decrease. Now last month only I bought a telecommunication proof set for 3600(It was a good deal as the market value was 4000 then). Now all of a sudden the mint decides to release more sets with the proof being valued at 2500 rupees. That means that I am at a loss. Whose fault is it then in that case? Moreover, this puts a doubt in my mind regarding when to buy. Lets say today I buy a railways set for 11000 thinking that it is rare and value will shoot up further; and the mint people here release a large amount making it not so rare, and the value goes down and my money goes down the drain. Where does that put me as an investor? Do I stop buying coins as it may well be a waste of my money? In that case, what is the difference between investing in coins and the share market?

3) I would like to point out that Subhash Chandra Bose birth centenary was in 1997, and if the coin came out in 1996, then it was called an error or a mistake which should not have happened. We always have something called 'date' on the coin which tells us when this coin was minted. Is it correct to have a coin which is minted in 2010 but showing a date of 2004(this time it is very blatant). Again I am not talking of any rules, but this is definitely something to be thought and pondered over. And from what I hear, the US government has a rule which bans re striking of coins; and don't think there is such a rule here, but I have heard that some collectors are going to file a PIL(public interest litigation) in the Kolkata High court against the further production of such restrikes.

New coin booking: 60 years of commonwealth

The Mumbai mint has now opened the bookings for the set of 60 years of commonwealth, which includes a 100rupee coin and a 5 rupee coin. The bookings will be open until 31st August, 2010. You can have a look at the proof set shown below:

60 years of commonwealth proof set

The price of the booking is as follows:
UNC set :- 2310 rupees (or 95$ for foreign nationals)

Proof set :- 2740 rupees (or 110$ for foreign nationals)

In case you have not booked a coin set before, you can book it at the Mumbai mint website: http://mumbaimint.in/

An analysis: The cost of these sets has been spiraling upwards very rapidly in recent times. The last booking in Mumbai mint was of Homi Bhabha and that cost a buyer 3400 rupees(1400 for UNC and 2000 for proof set). Now the cost is 2310+2740=5050Rs, or an increase of almost 50%. Since the mint booking price has gone up, so the price of the sets released earlier would also go up accordingly. This does make collecting difficult since everything is becoming so expensive, but at the same time this makes buying coins a good investment as we know that the price of our coins will shoot up in a very short amount of time and it also increases the desirability of coins.

New coin booking: Rabindranath Tagore, Rajendra Prasad and Annadurai

Coin cookings for these 3 sets are open from 19 July 2010 to 19 aug 2010. The following is a snapshot of an advertisement that appeared in the Sunday Times of Mumbai. you can do your bookings on the Kolkata mint site: igmint.org

An analysis: the prices of the bookings have shot up and are now really high. If you want to book 1 piece each, it would cost you above 15thousand rupees, and obviously would leave a big gaping hole in your pocket. In such a time, investors are panicking and trying to release their money by selling their extra sets, and as a result the prices of sets which were open for booking in the last 1-2 years have gone down a little. As it is known that coin prices would shoot up once these new sets come into the market, this is definitely the right time to buy old sets. But then again, more than 90% of the collectors or investors are not having the resources to do so at this moment as the booking itself would cost so much. Personally, I have already bought most of the sets that interested me this month only and now only 2-3 sets remain to be bought. That I will do by August mid and then I would never look at old sets again. Then I would move on to other domains.

Commonwealth games Delhi 2010 booking

Commonwealth games set booking

The set of commonwealth games Delhi 2010 consisting of 3 coins: Rs 100, Rs 5 and Rs 2 was released on the eve of the the games. The above picture is an advertisement taken from the Times of India dated 3rd October, 2010 (Sunday). Along with the commonwealth games set, rebooking is also open for 3 different sets: Rabindranath Tagore, Perarignar Annadurai and Rajendra Prasad.

P.S. Open the image in a new tab or new window, or save to your computer to see a clear picture.

RBI platinum jubilee set bookings

Coin booking for the RBI platinum jubilee coins is now open up till 31st Dec, 2010. The UNC and proof sets have coins in the denomination of 75,10,5,2 and 1. This is the first time that we are having a coin in the denomination of 75rs, and after a long time we are seeing a set having more than 3 coins(Even the commonwealth games set had 3 coins, one after a gap of 7 years, but this one looks special also because of the size of the 1 and 2 rupee coins).

RBI platinum jubilee set

The price of booking has gone up steeply with the UNC set costing 3400rs and the proof set costing 4000rs. It may be arguable as to why the price has gone up so much, even though the cost of production for a 5 coin set would be higher and hence the selling price would also be higher.

Those who wish to book the sets can do so at the mumbai mintwebsite.

Coin booking: Mother Teresa,Rabindranath Tagore, CWG and Louis Braille

Coin booking for Mother Teresa, Rabindranath Tagore, Commonwealth Games and Louis Braille.

Coin booking is open for Mother Teresa and re booking is open for Rabindranath Tagore and Commonwealth games UNC and proof sets(at a premium). The steep increase in prices is definitely a cause for concern as it cuts into our budget. The mint is also releasing a large number of sets for the last 2-3 years.Personally I do not want to put too much money into these sets right away so I would be limiting my buying on sets this year, I would be buying only selected sets. It is on everyone's own discretion on what to buy and what not to buy, depending on their own budget. The coin bookings can be done through the Kolkata mint site:http://igmkolkata.spmcil.com/SPMCIL/Interface/SellableProducts.aspx