Frontlist | PM Modi releases commemorative coin of Rs 75.

Frontlist | PM Modi releases commemorative coin of Rs 75.
on Oct 17, 2020

Prime Minister Narendra Modi on Friday released a commemorative coin of Rs 75 to mark the 75th anniversary of the Food and Agriculture Organisation (FAO). The coin will stand as an ode to the long-standing relations between India and the UN agency. Earlier this week on Monday, PM also released a commemorative coin of Rs 100 denomination to celebrate the Birth Centenary of Rajmata Vijaya Raje Scindia today through video conference. Can you get a commemorative coin: Have you ever wondered where you could get these coins from? The commemorative coins are not issued in general circulation but citizens can get them if they want. Commemorative coins in India are usually issued to celebrate some special occasion or to mark a special event. Sometimes they are issued as a mark of respect towards some distinguished individuals or monument. A little fun fact, the first modern commemorative coin in India was issued in 1964 depicting India’s first Prime Minister Jawaharlal Nehru. It was issued to commemorate his birth anniversary. Following that, many more commemorative coins have been issued over the year. All four Indian mints, namely Mumbai, Kolkata, Hyderabad and Noida, have produced commemorative coins. The commemorative coins may be issued for general circulation or for coin collectors in specially marketed packages. The specially marketed packages for collectors can be either uncirculated sets or proof sets, the latter being more expensive. Commemorative coins are issued in various denominations, ranging from 5 paise to 100 rupees. The lower denomination coins are usually for general circulation and their metal composition is usually in line with the regular coins. On the other hand, the higher denominations usually contain some silver and are meant for collection purposes only. While the lower denomination coins can be found in general circulation and you do not have to make any special effort to get them, the specially issued collector commemorative coins can be ordered directly from the mint during a specified time period. Aside from mints, these coins can be found with various coin dealers as well at marked-up prices. Where and how to get commemorative coins? The UNC (uncirculated) sets and proof sets are issued by IG (Indian Government) mint, Alipore, Kolkata or IG mint, Mumbai. In 2006, the government took a decision to Corporatise all the Mints & Presses. Accordingly, Security Printing and Minting Corporation of India Limited (SPMCIL), a wholly-owned Schedule ‘A’ Miniratna Category-I company of Government of India, was incorporated. The management, control, maintenance and operations of the erstwhile nine production units under Currency and Coinage division, Department of Economic Affairs, Ministry of Finance, Government of India, was transferred to SPMCIL. In order to obtain these commemorative coins directly from the mint, you can visit the website of IG mint Kolkata, IG Mint Mumbai IG Mint Huderababd to place an order. Mumbai mint even lets you order online using credit card. You can book them online by visiting the respective mint website. Typically, they start their bookings almost 3–6 months in advance. You can even visit the Mumbai mint office personally and purchase the coin. There is a list put up on their notice board that mentions the coins that are available for sale and its price. Commemorative Issues (UNC Set and Proof Sets) are issued by Mints and typically Pre-booking is the norm. Booking in Advance needs to be done. Generally, ads for such booking does appear in newspapers and there is a time period in which one can book such sets. SPMCIL has also started sale of commemorative coin sets of different themes through the commemorative coin sales counter. The coin sets may be purchased by providing details as per the order form available on their website igmmumbai.spmcil.com. The forms will also be made available at the counter in Mint premises. The payment is to be made either by Demand Draft/ ay Order drawn on any scheduled bank in favor of ‘INDIA GOVERNMENT MINT (UNIT OF SPMCIL) COLLECTION A/C’ payable at Mumbai or by using Debit/Credit Card (VISA and MasterCard) at the sales counter. Payment through cheque and cash is not accepted. The coin sets can be purchased on any working day from Monday to Friday between 10 am to 12 noon. The coin sets are delivered across the counter on receipt of payment as stated above. PAN Card is to be produced mandatorily for authentication purpose on purchase of more than 10 coins per theme only. The counter remains closed on Saturday, Sunday and public holidays. In order to facilitate smooth functioning of counter sale, maximum of 30 persons are allowed per day on first come and first serve.