Visitors Flocking to Coin Events and Exhibitions

In recent numismatic exhibitions, dealers are grappling with a significant challenge as visitors arrive with the expectation of selling coins at astronomical prices. This issue has arisen due to the proliferation of misinformation by certain YouTubers who falsely claim substantial values, often in the lakhs of rupees, for common coins and banknotes. Numismatic events are organized by dealers with the aim of promoting the hobby and facilitating the sale of old or new coins to collectors. However, dealers seldom make purchases unless the coins are genuinely rare.

YouTubers often feature commemorative coins in their videos, suggesting that common circulation coins like the Rs 5 coin featuring Indira Gandhi or those from the Mata Vaishno Devi Shrine Board could fetch lakhs or even more. Consequently, a large number of people attend events with these commonplace coins, hoping for substantial returns, only to be disappointed and left in a state of depression.

Several prominent news networks, including Zee News, DNA, News18, and others, have further exacerbated the situation by contributing to the misinformation. Their publication of inappropriate news has been misleading to the public and collectors, adding fuel to the fire of unrealistic expectations.

This surge in misinformation has led to numismatists being inundated with messages containing pictures of ordinary coins on their WhatsApp numbers and other social media platforms. Additionally, inquiries regarding the prices of common coins have significantly increased on this blog, YouTube channel, and other social media outlets, both in comments and private messages.

There are valuable reference books such as "Indian Coinage" by Sainath Reddappa and the "Indian Paper Money Guide Book" by Manik Jain, readily available at numerous numismatic stores and popular e-commerce sites. Consulting these resources can enhance your knowledge and contribute to the improvement of your collection.

It's important to emphasize that a rare coin or banknote is what truly finds its way into a collector's possession. Therefore, there's no merit in frantically seeking easy money or relying on misinformation spread by fake YouTubers or misleading news networks.