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Indian Gold Coins

March 13, 2011 8 Comments

The world’s first coins were Greek, made in Lydia about 640 BC. The earliest Indian coins were silver, and it was not until about 100 AD that the Kushan emperor Vima Kadaphises introduced the first Indian gold coin, which was a gold dinar bearing the image of Shiva. So India’s history of issuing gold coins dates back almost 2,000 years.Over this length of time India has produced many different denominations of gold coins, which include Dinars, Staters, Kahavanus, Pagodas, Tankas, Ashrafis, Mohurs, Gadyanas, Bhairava Gadyanas, Varahas, Fanams, Koris, Xerafims, and Tolas.

Many Indians make it a point to own gold, if for no other reason than to use it in weddings.Indian brides traditionally have a dowry of gold. This is usually in the form of high caratage gold made into jewellery, often incorporating gold coins. Wedding guests also gift gold coins as lucky wedding gifts. So over the centuries, many ancient , rare and ultimately valuable gold coins have been melted and made into jewellery.Even today there are not many collectors of Indian coins in general or Indian gold coins in particular.So there are many interesting and very affordable rare Indian gold coins even now in danger of being melted down. Collecting such coins which are currently unpopular or unfashionable might be a good idea,especially if a person is not averse to a bit of speculation and /or has an interest in numismatics. Firstly because the collector can obtain interesting, unusual and rare coins at a fraction of the price of coins from a popular series. Secondly if and when interest increases, prices are certain to increase accordingly. Thirdly, it will help to stop rare coins being lost for ever by being melted down. Read more of this post

Filed under Alternative Assets, Precious Metals, Tidbits Tagged with Agra Mint, Aries, Ashrafi, Bhairava Gadyanas, Chandragupta-II, Cochin, Coorg, Delhi Sultanate, Dinar, Emperor Jehangir, Fanams, Gadyanas, Gahadavala rajputs kanuj, Goddess Lakshmi, gold coins, Gold Jewellery with Gold Coins, Golden Pagodas, Gupta Period Gold Coins, Huvishka, Hyderabad, Investing In Gold, Kahavanu, Kori, Kumara Gupta, Kushan, Lion slayer, Lord Kartikeya, Madras Presidency, Marathas, Mohur, Mughal Gold Coins, Mysore, native states, Negapatnam, Numismatics, Pagoda, post gupta period, postaday2011, Prakasaditya, Queen Victoria, RandomBlog2011, RBI, Scorpio, Stater, Tanka, Three Swami, Tola, Travancore, Varahas, Vasudeva-I, Vasudeva-II, Vima Kadaphises, Xerafim, zodiac signs

Gulf Gold Bars – Caution

January 22, 2011 1 Comment

Here is an article of interest for all those who by gold bars from the Gulf.It appeared in TOI in August’10.

Purity of gold a big concern for jewellers

MUMBAI: After having detected the presence of platinum group metals in certain 24-carat gold bars imported from a few Middle Eastern countries, a leading jewellery industry body has urged the government to install sophisticated photosynthesising machines at each of the airports through which gold is channelised into the country. According to the trade, there are less than 4 such machines in the 150 hallmarking centres across the country.

“Over the past few years, we have been finding that certain 24-carat gold bars imported from some Middle Eastern countries contain traces of platinum group metals such as iridium and ruthenium,” said Vinod Hayagriv, chairman of All India Gems & Jewellery Trade Federation (GJF). “In light of this, we have asked the government to install photosynthesising machines, which cost over Rs 1 crore a piece, at customs in each of the cities’ international airports.”

Mr Hayagriv confirmed that though the incorporation of such metals in gold bars was limited to miniscule volumes of imported gold, the trade had to be “forewarned” of their likely presence. He was speaking at the launch of Swiss-made Milleret watches by Veeline Jewels & Watches at the recently concluded IIJS 2010, a business-to-business trade show organised by Gems & Jewellery Export Promotion Council.

Gold melts at 1063 degree celsius but the process begins at 800 degree C. Iridium and ruthenium melt at 1900-2000 degree C and can be melted along with gold. While gold starts melting at 800 degree C, ruthenium remains unmelted (the melting process begins at 2000 degrees C) in the form of a globule in some block of gold. As it remains unmelted the total weight of gold — the yellow metal is sold on weight — goes up. Read more of this post