Numismatics Collections

The Reserve Bank of India (RBI) has issued a  Press Release  today to address concerns regarding the acceptance of 10 rupees coins by certain traders and the general public, fueled by rumors questioning their authenticity. In the press release, the RBI stated, "It has come to the notice of the Reserve Bank that in certain places there is reluctance on the part of traders and members of the public to accept ₹10 coins due to suspicion about their genuineness." The RBI unequivocally clarified that these coins are minted by the India Government Mint, also known as the Security Printing and Minting Corporation of India Ltd (SPMCIL). These coins are introduced periodically, featuring themes based on economic, social, and cultural values as commemorative issues. Currently, there are 14 different designs of 10 Rupees coins in circulation, all of which hold legal tender status. The distinctive features of each design have been communicated to the public through Press Releases, and t...

The Government of India has reversed its decision to completely halt coin production and has instructed all four mints in the country to resume production, albeit at a reduced pace. The government has directed the state-run Security Printing and Minting Corporation of India Limited (SPMCIL), also known as India Government Mint, overseeing operations in Mumbai, Kolkata, Hyderabad, and Noida, to operate on a single shift, instead of the usual two shifts, while continuing the minting of coins across various denominations. The mints are now tasked with meeting production targets in the remaining two-and-a-half months of the current fiscal year. The Reserve Bank of India (RBI) collects coins and banknotes from these mints for distribution in the market. The initial decision to halt coin production, effective from January 9, 2018, was made due to market saturation and a shortage of storage space. In an order dated January 9, 2018, the government instructed SPMCIL to halt production of circul...

The Government of India has, on a temporary basis, suspended the minting of coins due to an excess in the country's mints until further notice. The Security Printing and Minting Corporation of India Limited (SPMCIL), also recognized as India Government Mint, oversees the operations of India's four coin minting houses situated in Mumbai, Kolkata, Hyderabad, and Noida.  This decision was officially announced on Tuesday. Notably, the surplus coins stored at these mints have not been released by the Reserve Bank of India (RBI) machinery for circulation. This decision is primarily driven by the full storage rooms within the government facilities. The storage rooms house substantial quantities of manufactured coins, leaving no available space for additional coinage. The Mint Union emphasizes the need for the government to take tangible steps to retrieve the manufactured coins from these storage rooms promptly and introduce them into circulation to address the prevailing demand in th...

The Reserve Bank of India (RBI) has introduced a new ten-rupee note in a distinctive chocolate brown colour. This updated note maintains the same height as the current ten-rupee note, measuring 63mm, but with a slightly reduced width of 123mm, as compared to the existing note's width of 137mm. The reverse side of the note will feature a motif of the Konark Sun Temple along with the Swachh Bharat logo, replacing the previous images of a rhinoceros, elephant, and tiger. The RBI has announced that the new note, bearing the signature of Governor Shri Urjit Patel, will be entering circulation very shortly.