84 rare coins missing from SPS museum

Authorities haven't punished officials who took some of these coins

FAHEEM ASLAM

Srinagar, Mar 23: Dozens of rare coins are missing from SPS Museum at Lal Mandi, and in the absence of a proper record, there are apprehensions that hundreds of coins would have been stolen. And high on the list of suspects are some officials of the museum, according to a report submitted by a government committee.

The documents available with Greater Kashmir reveal that eight gold and 76 silver coins have been stolen from the museum.

The report prepared by the officials in 2003, after physical verification of Gold and Silver coins displayed in the museum, says, "As per a classification register, there are 62 gold coins classified under various accession numbers from serial numbers 1 to 61. Out of these only 54 are lying with present in charge of the collection, and eight gold coins are missing from the stock."

The missing gold coins, according to the officials maintaining the register, were lying with the then curator "for purpose of identification", but the register doesn't say what happened to the coins later.

Did the then curator return the coins? When this question was posed to the Director Archives, Archaeology and Museum, Qazi Khurshid Ahmad, he evaded a straight reply and uttered irrelevant comments: "I was not in the department when the report was submitted. What sin have I committed that you are filing stories against me. I know who the source behind these stories is. You can come to my office and we can talk in detail."

The deputy director, Archives, M S Zahid said he has no information about the issue. "If such a thing had happened, it should have been brought to my notice. I should have been taken into confidence. But it is news to me that some officials have conducted a physical verification of the coins. If the coins are missing, the authorities should have inquired about their whereabouts. And if they have been stolen, the authorities should file an FIR," he said.
About the missing 76 silver coins the report says, "The register maintaining record of the Silve Coins section is without pagination. "There are about 27,055 silver coins as per the General Accession Register but as per the Classification Register, there are only 27,026 in the concerned collection. This means 29 coins are missing in this section."

Another register, according to the report, shows 24421 silver coins instead of 24449, signifying that 28 silver coins are missing here as well.

The third register, according to the report, shows 19 silver coins lying with S L Raina, an official who has once been in charge of the coins section. The register is silent about these 19 silver coins.

The report says, "As already mentioned that in the 1900 AD, G B Bleazely the famous numismatist and then Accountant General of J&K State had identified more than two thousand coins. He has also prepared a list of these classified coins, a copy of the list is very much available in the reference library of SPS Museum, Srinagar. However, the list of coins prepared by him hardly coincides with the stock of silver coins housed in the Museum. Very few coins are classified in the classifications register. There classification detail is also subject to confirmation by the competent subject expert. For example S. No. 1 Accession No. 315 shows 24421 silver coins and medals. All the coins and medals are unclassified and unidentified. There is every possibility of easy exchange and easy replacement of rare coins by common ones."

The collection of thousands of rare coins has not been cataloged so far, thus making the collection prone to theft by the officials and burglars.

The storage of coins is unscientific and insecure. Most of them have developed rust due to poor preservation and scores have been kept in unsafe cotton cloth and century old bags. These torn bags have been kept in lockers.

During the physical verification, the concerned officials lamented at what they called "the unfortunate state of affairs" in the department. "The classification register that was provided to the physical verification committee does not seem to be the original because it is without pagination, attestation by the competent authority, and the weight of no coin is recorded on the register," the report reads.

The classification registers before 1980 were not shown to the probe committee comprising then assistant director Archives Jammu, Peerzada M Ashraf; Conservator Assistant Dogra Art Museum (Jammu), Kirpal Singh; and Peer Muhammad Iqbal, the then store keeper of the Museum.

The committee, however, has not recommended any course of action to recover these coins. All they recommended is how to preserve the priceless treasure by their proper cataloging, weighing, identification of genuine coins, procurement of coin coffers and fire proof lockers, chemicals for their preservation, and the services of numismatic experts for proper and attractive display of these coins.

Coins shaped like guitar

Name: Alok Kumar Goyal Age: 44 years Claim to fame: Collecting coins is this software consultant's passion. His collection — spanning three decades — includes not just coins used across the globe but also special commemorative ones. He has lost count of the number of coins he has. The quantity is matched by quality. Goyal has 62 sets of Republic India (which focus on developmental issues and leaders like Gandhi and Netaji), coloured coins from across the globe and coins to commemorate international women's year, international children's year and the first world science conference in India. The value of the rare coins is over Rs 40,000 each. Early start: Goyal began collecting coins as a child. "My father used to get the special collections from the Reserve Bank of India. That's how I developed my interest," he says. He constantly keeps in touch with fellow collectors and mints to learn about the new coins in the market. "I spend my free time on the Internet, trying to find out about new coins and exchange extra coins for the ones I don't have," says Goyal. His latest acquisitions are coloured coins in various shapes and sizes. He has coins from the US shaped like guitars, motorcycles, fishes and butterflies. "Coloured coins are a rage now but India does not produce such coins," he says, showing off his new cat coin collection from the UK. Business sense: "Coins are good investments in India. After the mint stops producing a collectors' edition coin, its value can double in three months," says Goyal, who spends between Rs 8,000 and Rs 10,000 every month to expand his collection. One of his favourites is the silver-coloured series depicting Queen Elizabeth II at different stages of her life. Another coin he likes was produced by Somali Republic to commemorate Mahatma Gandhi. It depicts the three monkeys. Among Goyal's prized possession is a set that Princess Diana brought to India. It contains coins etched with an image of her and Mother Teresa and of her holding baby Prince William. Other uses: Goyal is using his coin collection to teach his two sons about places and people. "I give them a coin and ask them to gather information about the place it is from or the people it is commemorating. This keeps the boys interested."

CHANDREYEE CHATTERJEE

Design Types of US Coins and Coin Collecting

By Nicholas Tan

Coin collecting is a fun hobby that anyone who has the time can do. A coin's history and its development can be learned by collecting them.

At one point in time, between 1838 and1933, the United States issued gold coins for circulation. The Liberty Head bust was used as the design until 1907. The design was then changed to the Indian Head and Saint Gaudens motifs until 1933 when the "Great Depression" started. This prompted the recall of the coins which makes it very rare to find any of them today.

The most valuable coin in the world is the 1933 Double Eagle. This was a $20 gold coin that was made in the 1800's after the California gold rush. This coin was not allowed to be used in the 1930's and when this coin was auctioned in 2002, it sold for nearly eight million dollars.

Since gold coins are hard to find, most collectors select other coins.

One type of collection you might consider is the one made up of coins that are flawed when the coin was minted. If you can find a coin with a misspelled word, a wrong date, off-center characteristics, or double-punched marks, these coins are valuable. Such mistakes can increase a coin's value from $50 to a $1000.

Coins that were only issued or circulated for short period of time also make good collectibles.

A coin collection is at its best if it is focused on a certain coin. A collector can choose from pennies, nickels, dimes, quarters and dollars.

Another way of collecting is disregarding the types of coins but concentrating on a certain time period. Coins have different mint marks and collecting those that were struck in the same location can also be interesting. The important thing for hobbyists is to stick to the collection until it has been completed.

For a good start subscribe to a coin publication such as Coin World or Coinage Magazine for information on the types of coins that you might want to collect. The internet or a local coin shop can also help expand the search for those coins that can't be found in your locale or out of state.

Building a coin collection will take a long time - months or even years. The United States has produced so many coins that it is hard to keep track of them. By deciding on the coin(s) you want to collect, the challenge to complete that collection begins.

Why is a Coin Grading Service Important?

By Nicholas Tan

Coin collecting has been a very popular hobby to many people of all ages. The marketing of coins has expanded widely and because of this wide the market prices of coins has varied immensely.

Before, the coin market was limited to a small number of collectors and dealers. At that time coins were priced in simpler terms. Since the market has expanded, dealers have been very inconsistent with the prices they set for the coins so that became the time when the need for a standard scale arose. That is where the coin grading service entered the scene.

Coin grading services are able to provide services that determine the standard practices so important in marketing. Any collector who sees the wide market of coins will see the importance of a grading service. There are unscrupulous dealers that over grade the coins that they sell and collectors need to be aware of this.

Coin grading services have standard scales for every coin available on the market. One benefit grading provides, is that coins will be assessed fairly and accurately. Antique coins and rare ones will be scaled depending on their origin, quality and the purpose for which they were released.

A coin collector may need to use a coin grading service when buying a coin so that he is able to check the authenticity of the coin and if the coin is priced fairly. Sellers, on the other hand, use the grading service to check if they can generate income based on the price they have set on the specific coin. This practice will also ensure that the prices dealers set are not too high and are close to the actual value of the coin.

Many collectors are victims of fraud - especially when buying rare coins. A grading service will ensure that the coin is not a counterfeit one and this will prevent fraud in every negotiation.

Coins values often change through time. The grading service will ensure that the coin will have the updated price set for it; or determine if a coin's value has depreciated, depending on factors like deterioration of the appearance of the coin.

Some of the credible grading services are the PCGS, PCI, Anacs and the NGC. These services have very good records and are known to provide valuable and helpful services to consumers with consistent and accurate results in grading.

They seldom (or never) have been reported to be over grading. They are also known for their expertise in checking the authenticity of a coin with accuracy. Other important factors are also considered by these services such as detecting any marks and problems with the coins and adjustments in the dates and mintmarks. Coin grading services are also able to detect if there was toning, cleaning and repair that were made on the coins that were graded.

Coin grading services can also help if there is fraud and/or illegal activities being practiced by dealers. They have hotline numbers available so that consumers can call and report any illegal act. This helps to ensure that consumers are safe.

Grading services can also guarantee the authenticity of the coin. Services like the ones offered by PCGS, grading is done by at least three experts in accordance with the standards set in their policies. If a consumer thinks that his coin over-graded, he can return the coin and have it re-graded to ensure that all information given was fair and accurate.

Coin grading services provide guarantees of their grades, and unlike dealers, they do not provide this benefit. Dealers are only able to provide opinions on grades, they are unable to guarantee them.

As coin collectors, people need to ensure that they receive a fair for coins – whether buying or selling. Grading services are there to help and assist these collectors and the collectors need to be aware of the benefits of grading services so that they do not rely on opinions given by dealers.

When choosing a grading service, you must always check the credibility of that service. This may be done by checking the Internet to verify information regarding a certain coin grading service. Awareness is a very important factor needed to ensure safety among coin collectors.

Coin Collecting as a Hobby

By Nicholas Tan

Most people engage in different activities that they consider hobbies. When people consider a particular activity as a hobby, it means that people find that activity pleasurable in that they enjoy collecting different kinds of coins.

In this context, it does not necessarily follow that the coin collector will focus more on the monetary value of the coins. When the focus of coin collecting delves more into the monetary value of the coins than the gratification the collector obtains, it is no longer deemed a hobby but an investment.

History tells us that the main reason other generations collected coins was the value that coins would someday attain. The ancient form of coin collecting was even labeled a hobby "fit for the kings" because ancient coins were so valuable that only the kings were capable of collecting them.

Today's coin collection is no longer limited to the "kings" or the affluent. Anyone can now consider coin collecting as his or her hobby. The popularity of coin collecting continues to flourish as more and more people collect coins. That is why it is now known as the "King of Hobbies".

Why Such Popularity

One of the many reasons coin collecting is considered by many as one of the most popular hobbies in the world is based on its ease of access.

When somebody wants to start coin collecting, he can start any time, anywhere. Some people start coin collecting with the coins that they have in their pockets. This phase of coin collecting is known as the "accumulator" stage, where collectors try to accumulate as many coins as they can often using their "pocket change".

After the collector gets the "hang of" accumulating coins, the hobby becomes more expensive. This is because true hobbyists are willing to pay the price as long as a particular coin will enhance their collection and will beauty to their "masterpiece". And the rest, as they say, is history.

Coin collecting as hobby is a pleasurable activity that any person can use to create a feeling of gratification..

The Basics of Coin Collecting

By: Nicholas Tan

Coin collecting is said to be the "Hobby of the Kings." Coin collecting is different from money hoarding. Collecting coins as an art form can be traced back to the 14th century. Today, people all over the world are collecting coins. Some collect it for their value, some just like the sheer fun that they get from getting their hands on different coins.

If one is interested in making coin collecting a hobby, he can very well do so. It is a hobby which does not require a certain skill and it can be done by almost everyone.

There are many different kinds of coin collectors. There are those who do it for fun, and others do in a more serious manner.

Informal coin collecting

Most coin collectors, especially the children, start out as informal coin collectors. They are laid-back collectors which do not have a specific goal in collecting coins. They might collect coins from different countries or from different time periods without any intention of being serious about it.

Inquisitive coin collecting

Once the informal coin collector starts noticing the details of the coins, he becomes an inquisitive coin collector. This kind of coin collector won't bother much into spending money to get coins. He merely wants to appreciate the coins. Soon, he will start to put them in containers or albums.

Advanced coin collecting

An advanced coin collector will collect coins with a specific target in mind. He may want to collect coins from a certain nation, or a certain time period.

There are many tracks which coin collectors pursue when engaging in their hobby. Here are some of the ways one can use in collecting coins:

Coin collection according to nation

Many coin collectors would want to collect coins from a certain nation during a certain period of time. This kind of coin collection lets the collector travel the globe through the coins. People may want to collect coins from countries they had visited.

Historical coin collection

Another way of collecting coins is by taking in mind history. Many coin collectors engage in collecting coins during a certain period in history like wars or declarations of independence.

Error coins

There are people who find collecting coins with errors exciting because these kinds of coins are rare nowadays.

There are many ways to collect coins and each way is as fun as the other. One must feel the hobby first before he decides whether to stick with it or not. Coin collecting can require certain amounts of money and the collector must be wise in engaging in such a hobby.