Kolkata Exhibition Exposes the Dark Side of Numismatic Misinformation

The Coin Fest 2025, organised by the Numismatic Society of Calcutta (NSC) and held at Haldiram Banquet Hall from July 25th to 27th, has turned into a landmark event—an eye-opener for other numismatic exhibitions across India. 

Image Courtesy: Mr. Prem Pues Kumar and Mr. Nabarun Mallik

What was intended to be a well-curated event for collectors and enthusiasts to gather, learn, and trade rare coins and currency notes turned unexpectedly chaotic due to a massive influx of people misled by fake news propagated on social media. Thousands, from regions as far-flung as Bihar, Jharkhand, Odisha, Assam, and Uttar Pradesh, arrived at the venue with the false hope of earning lakhs by selling ordinary coins and banknotes that hold no numismatic value. This disturbing trend has stemmed from a barrage of misleading videos and reels posted by irresponsible content creators who, in their pursuit of views and monetisation, exploit the aspirations of daily wage earners and the underprivileged by falsely claiming that common “Tractor Wala” notes, “Genda Chap 50 Paise” coins, or commemorative Mata Vaishno Devi pieces are worth a fortune.

The situation spiraled out of control on Saturday when the crowd swelled to several thousand, far exceeding the average three-day turnout of about 1,500 serious collectors that such events typically witness. The mob, misinformed and growing restless, became agitated at the gate—many even threatening to force their way in. “We had to make an SOS call to Karaya Police Station to manage the situation that was getting out of control,” said Mr. Vinod Jaiswal, Joint Secretary of NSC. Despite the volunteers’ repeated attempts to inform attendees that no such high prices are offered for circulated coins, confusion and tension persisted. Eventually, police had to temporarily shut down the exhibition and deploy additional forces to disperse the crowd. Approximately 10 police personnel, led by a sub-inspector, along with 15 NSC volunteers, were needed to manage the long queues that extended from the venue gates all the way to Ballygunge Phari and Ballygunge Park Road. “For a few views and petty earnings, fake YouTubers are spreading misleading narratives. We have to start a campaign to counter the spread of fake news,” Mr. Jaiswal added with urgency.

Coin exhibitions in India are not marketplaces for miracle transactions. These events are conducted in almost every major city—be it Kolkata, Mumbai, Bangalore, Chennai, or Hyderabad—with the primary objective of promoting the hobby of numismatics. It is a refined, knowledge-driven, and often expensive pursuit where passionate collectors meet reputed dealers, acquire coins for their collections, and exchange historical insights. Some collectors even put up exhibitions to share their well-researched collections with the public and inspire new generations of hobbyists. These events are meant to educate, connect, and celebrate the history and art of currency—not to act as platforms for quick wealth through circulated, common coins.

The incident at Kolkata underscores a growing concern in the digital age: the spread of misinformation far outweighs the reach of authentic content. Many individuals, especially those not well-versed in the field, are being duped into paying registration fees to fraudsters who use doctored images of coin exhibitions to promise false payouts. This phenomenon is not restricted to Kolkata. Similar crowd mismanagement, based on the same misbeliefs, has been reported at other exhibitions held in different cities.

In light of this, Mr. Rajendra Maru of Marudhar Arts, who is also the President of the Karnataka Numismatic Society (KNS), took a proactive step in Bangalore by introducing a ticketed entry system for the National Numismatic Exhibition (NNE) in 2024, typically held in the last week of February. Charging a nominal fee of ₹200, the idea was to limit entry to genuine hobbyists and reduce disruptions caused by misinformed visitors. While the concept initially faced skepticism—with many questioning whether people in India would pay to attend such shows—it has proven effective in maintaining the quality and purpose of numismatic gatherings. This initiative has received widespread support. Mr. Prem Pues Kumar, a key coordinator of numismatic events, and S. Navaneethan Ramanujam, one of the current Sub-Editors of the Karnataka Numismatic Society and owner of this blog, have also welcomed this move and are advocating for its implementation at Nanya Darshini, which takes place annually in the second week of July in Bangalore.

The collective mission of all numismatic societies, clubs, and this blog is clear—to foster the growth of genuine numismatics in India. That means encouraging research, sharing knowledge, mentoring new collectors, and preserving our rich monetary history. It also means standing united against the exploitation of vulnerable people by online opportunists who sensationalise content for revenue at the cost of misleading thousands. By fostering partnerships between organisers, collectors, dealers, and law enforcement, we can ensure that these events remain true to their purpose and do not become arenas of misinformation and unrest.

The Coin Fest 2025 in Kolkata was a wake-up call. It revealed the urgent need to enforce tighter controls, especially regarding visitor entry and crowd management. Most importantly, it highlighted the importance of accurate public communication. Going forward, ticketed entry systems should be made standard practice across all major coin exhibitions in India. This not only helps filter out non-serious visitors but also protects the integrity and safety of these cultural events. Let this experience push the community towards responsible growth, united efforts, and a renewed focus on education and transparency. Only then can the true spirit of numismatics thrive in India.