Foreign & Indian Mint marks on Indian coins

Foreign Mint marks:

(i) Dominican Republic Mint.

(ii) Heaton Press Mint (U.K) : This Mint has a stylish letter ' H ' below the last digit (i.e. 5 of 1985) of date of the coin.

(iii) Kremnca Mint (Slovakia Republic) : This Mint has Mint mark of ' MK ' in circle under the date of the coins on rupee.

(iv) Mexico Mint : The Mexico Mint has a mint mark of ' O on top of M ' under the date of the coin.

(v) Moscow Mint : The Moscow mint has mint mark of MMD in an oval shape below the date of the coin.

(vi) Pretoria Mint (South Africa) : This Mint has a stylish letter ' M ' below date of the coin.

(vii) Royal Canadian Mint, Ottawa : This Mint has a letter ' C ' mint mark beneath the date of the coin.

(viii) Royal Mint London -The Mint has a small ' dot ' below the first digit (i.e. 1 of 1985) of date of the coin.

(ix) Seoul Mint (South Korea) : This Mint has a ' five pointed star ' below the date of the coin but exactly below the either the first or Last Digits of the date.


Indian Mint marks:


There are four mints in India.

(i) Calcutta Mint : It has no Mint mark beneath the date of coin. (ii) Hyderabad Mint : This Mint has ' five pointed star ' under the date of coin. (iii) Mumbai Mint : This Mint has a ' small dot ' or ' diamond ' under date of the coin. (iv) Noida Mint : This Mint has a ' small dot ' under the date of the coin.

What Are Cardboard Coins & Thick Paper Coins?

It might be very interesting to know that during British period many princely states issued their own coins made of card-board & thick paper. These coins were issued along with the coins issued by British Government. These were issued because some of the princely states could not afford to manufacture metallic coins. 

Errors On The Coins

Sometimes a coin receives certain errors during minting. These error coins are again sent for remanufacturing. However out of so many coins some error coins are missed out and are unintentionally released to the public. These error coins are in great demand by the collectors and are usually sold at a premium. Its value depends upon rarity of that kind of error. Value of an error coin increases if the error on it is rarely found on the coins of same denominations.                            

 Different type of errors found on coins are:            
                                  
1. Mules : When a coin has obverse (head) die of one coin and reverse (tail) die of another.


2. Blank planchet : When both the sides (observe & reverse) of a coin is plain.


3. One side blank : When any one side of a coin is plain.                

4. Discoloration : This happens when accidentally different metals are used.                   
 
5. Die rotation error : When the images on both sides of a coin are at different angle with each other.


6. Die crack error :  This happens when the die breaks during minting or if a broken die is used during minting.

7. Ghosting error : When the impression on one side of coin is seen on another side also.


8. Broken edge error :  When a part of the edge of a coin is broken.


9. Edge error : When the edge of a coin is found to be different than what is found on same type of coin with same date. 


10. Chipping out of the surface : A coin which has metal chipped out of surface at a certain part of it. 


11. Off-centre error : During minting process when the lancet slips out of its place then it is stuck only on a certain part leaving the other part of that side blank. 


12. Double strikings : A coin gets removed after getting one strike. But if due to some reason it is not completely ejected out of the striking position then it receives another strike on the part which is exposed. This results in double strikings on the coin.


13. Brockages : This happens when a coin has both the sides with same image. Similar type of coin was seen in the movie ' Sholay '.

Monetary System

This system was followed in everywhere in India except Goa, Daman & Diu.

1 Pie = 1/12 Anna    


1 Anna = 12 Pies   


 3 Pies = 1 Paisa or 1 Pice  


 2 Half pices = 1 Pice  


 2 Dhelas = 1 Pice     

 4 Pices = 1 Anna   


 16 Anna’s = 1 Rupee   


 15 Rupees = 1 Mohur 

Learn About Coin Grading System

A coin collector must have basic knowledge about grading of coins. Grading systems are may vary with countries but it is easy to learn. Having a basic knowledge will help you to make better decisions when buying coins.   Below table will give you an idea about it :
                                      
G:            Good                               Design Remaining - 10 %
                     
VG:         Very Good                      Design Remaining - 25 %     


F:             Fine                                Design Remaining - 50 %    

VF:          Very Fine                        Design Remaining - 75 %      


XF:          Extra Fine                      Design Remaining - 90 %        

XF/UNC: About Uncirculated     Design Remaining - 90 % + Some Luster    
        
UNC:       Uncirculated                  Design Remaining - 100% + Some Luster      
       
UNC:        Brilliant Uncirculated   Design Remaining - 100% + Full Luster                      

Some Useful Points For Beginners / Numismatists

Numismatist : A person who studies and collects coins.          
                
1. Start a coin collection on a small budget. First you must spend a smaller amount. As you develop more interest you can increase your budget.
2. Get a coin folder to collect the coins. It prevents your coins from degrading. It also gives a good impression to the dealers when you take your collection for sale or exchange. Finding a new coin to fill an empty hole involves lot of the fun and excitement.
3. One should always hold coins by placing his thumb and index finger on its rim or edge. A coin should never be held from its observe (Head) & reverse (tail) side. This way a coin will maintain its weight and design.
4. Just like all other investments make sure your coin collection is also safe. Keep it locked at all times as any stranger or visitor can easily keep it in his pocket and sell it to a dealer.
5. Its not necessary that only you have to collect coins for yourself. You should let all your friends, neighbour's, relatives know that you collect coins. So if anyone comes across an unusual type of coin then chances are that he might keep it for you. Develop a good relationship with a local coin dealer and let him know about the kind of coins you are interested in. A coin dealer can advice you about what to collect. If your child starts taking interest in collecting coins then make him join a local coin club. This way he will also attain knowledge about coin collection. 
6. Sale of fake coins in the market is an unfortunate reality, but it's easy get the information about fake coins. 
7. Coins which are rarer or of key date are the best type for investment. Try to get them in the best of grade for better return. Proof sets are also great for investment.
8. Remember a coin does not have a price tag attached to it. Its value sometimes changes with dealers and even with cities. Best way is to go to few dealers and find out its market value. A dealer usually offers a smaller amount because eventually he will be selling it to a coin collector and he also wants some profit out of the deal. So after knowing the market value try to find a coin collector to whom you can sell your coin for a little extra. 
9. For more detailed information try to get numismatic books from the market. Various books are available which contains detailed information about the coins of India and the world. Some books also provide market value of the coins.

What To Collect?

There are many types of coins that you can collect. You can start by collecting some of these:

1. Indian princely states coins.
2. British India coins.
3. Portuguese India coins.
4. Republic India coins (From1947 till today).
5. French India coins.                    
6. Coins of Mughal & other Islamic dynasties.
7. Coins of different mints.

What is a mint mark : A mint mark is a symbol or design on a coin to indicate the place of mint where the coin was produced. 


Read - Foreign and Indian Mint Marks On Indian Coins.


8. Proof Sets.
Proof Sets: Group of specially packed proof coins, issued by Government of India. Proof coins are made of specially polished die to give it a mirror like look. Each coin is struck two or more times by the coin die. Due to this the coin contains very fine details of the image on it which are not found on other coins. It contains details like: Metals used, diameter, weight and type of edge. Proof set of Mumbai have a Mint mark ' B'  or ' M ' under the date of the coins. Proof set of Calcutta do not have a mint mark. 


9. Error coins.
Error coins: Coins which attains certain type of defects during manufacturing and are accidentally released to the public. Most of these coins are good investment depending on the type of error in it. 

Read - Errors on the coins.


10. Commemorative coins.
Commemorative coins: Coins which are issued to commemorate a particular event or issue are called Commemorative coins. These events or issues could be like historical incident, highlighting historical monuments or ancient sites, historical personalities, endangered species etc.
Some of the Indian Commemorative coins are ones with Saint Tukaram, Chhatrapati Shivaji, Mahatma Gandhi, Jawaharlal Nehru, Indira Gandhi, Rajiv Gandhi, Subhash Chandra Bose, B. R. Ambedkar, Rhino, Cellular Jail, World Food Day, Dandi March, Quit India, 60 yrs. of Commonwealth etc on them.


11. World coins.
12. Rare coins and Banknotes.

Should I Collect For Myself, My Children / Grandchildren ?

Many people like to start a coin collection for their children, or grandchildren, as a kind of future investment for them. The collections can be given directly to the child at a certain age or as an inheritance. Some people also collect coins as an investment for their old age.
Before you start collecting coins there are two points that must be considered:

(A) You must understand that just like all other investments you will have to spend money for collecting coins too. So make an estimate of how much you can afford to spend each year or month for it.

(B) You must make up your mind about the actual purpose of this collection. e.g. through your collections you aspire to have a good amount of wealth in future or you hope that someday your child will take up the coin collecting hobby and you will present it to him as a legacy.