Why Newly Released Commemorative Coins Are Hard to Find

In recent years, numismatists who specialize in collecting commemorative coins have found it increasingly difficult to obtain newly issued coins from general circulation. Although many of these coins were released several years ago—and some were made available through Proof and UNC sets—their presence in everyday transactions remains minimal. This scarcity has become a persistent challenge for collectors who depend on circulation finds rather than premium sets.

Several underlying factors have contributed to this situation. One of the primary issues is the Reserve Bank of India (RBI) facing logistical hurdles in lifting coin stocks from the Security Printing and Minting Corporation of India Ltd. (SPMCIL). Due to limited storage capacity, large quantities of minted coins remain in SPMCIL vaults. Since coins are considered financial assets owned by the Ministry of Finance, both the RBI and SPMCIL are currently operating with tight cash flows. The RBI is unable to make payments to SPMCIL unless it physically lifts the coins and distributes them to commercial banks—creating a bottleneck that prevents newly minted coins from entering circulation.

Another complication stems from a long-standing misconception among sections of the public regarding the authenticity of ₹10 coins. Rumors about fake ₹10 coins have led many people to reject them, despite the RBI repeatedly confirming that all ₹10 coin designs issued by the Government of India are legal tender. This unnecessary refusal has added to the storage burden, as banks and the public remain hesitant to accept and circulate these coins. The RBI continues to urge citizens and financial institutions to accept ₹10 coins without any doubt or discrimination.

A number of circulating commemorative coins, though officially released, are still rarely seen in the hands of the public. Some of these include:

• ₹5 - Rani Gaidinliu, 2015
• ₹5 - Begum Akhtar, 2015
• ₹5 - Biju Patnaik, 2016
• ₹5 - Mysore University, 2016
• ₹5 - Deendayal Upadhyaya, 2016
• ₹5 - P. C. Mahalonobis, 2018
• ₹10 - Shri Jaganath Nabakalebara, 2015
• ₹10 - Maharana Pratap, 2016
• ₹10 - Krishna Chaitanya Mahaprabu, 2016
• ₹10 - Lala Lajpat Rai, 2016
• ₹10 - Banaras Hindu University, 2016
• ₹10 - Tatya Tope, 2016
• ₹10 - Dr. M S Subbulakshmi, 2017
• ₹10 - Shrimad Rajchandra, 2017

While some of these coins occasionally appear at numismatic exhibitions and trade fairs, they are still far from easily accessible. Their limited availability has led to inflated prices in the secondary market, making it even more challenging for collectors who wish to acquire them at reasonable rates.

The numismatic community hopes that the ongoing issues related to storage, distribution, and public perception will be addressed promptly. A more efficient supply of commemorative coins into general circulation would greatly benefit collectors and help preserve the nation’s rich history of coinage for all to appreciate.