The VVIP Coin Set Scandal Shaking the Numismatic Market

In recent times, there has been a major scandal involving fake VVIP coin sets being sold as originals at numismatic exhibitions, online platforms, and social-networking sites. These counterfeit sets are produced with the intention of deceiving collectors or unsuspecting buyers into believing they are acquiring genuine and valuable pieces.

Tower-type sets are usually presented to delegates invited as Guests of Honour for the release of commemorative coins. These sets are extremely limited—typically restricted to only 5–6 pieces—while frame sets are even rarer, often limited to just one or two issued by the India Government Mint.

Over the last five to six years, several tower-type and frame-type sets were illicitly manufactured by a particular dealer and sold at exorbitant prices.

These sets generally appear only after the official coin bookings open at the India Government Mint. For example, the Proof Set of Raja Ram Mohan Roy, originally issued at ₹3,697, had its coin removed and placed into a replicated tower set, which was then sold for ₹10,000–₹12,000. In another instance, a fake VVIP set of the New Parliament Complex was sold for approximately ₹8,000–₹9,000.

This raises a serious question: how can a dealer “procure” such sets when only one frame set and two tower sets were officially released—those presented to the Prime Minister Shri Narendra Modi, Lok Sabha Speaker Shri Om Birla, and Deputy Chairman of the Rajya Sabha Shri Harivansh?

Fake sets refer to counterfeit or fraudulently assembled collections designed to imitate genuine VVIP sets. The India Government Mint should take strict action against individuals involved in such activities.

It is crucial to exercise caution when purchasing VVIP sets or individual coins, especially from unofficial sources or online platforms. These fake sets can lead to both financial and legal trouble, as replicated sets hold no numismatic value when you attempt to sell your collection.

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