In a thought-provoking article penned by Dr. Kishore Nuthalapati, the Chief Financial Officer, we dig into the fascinating world of commemorative coins. These small, often overlooked tokens of history hold great significance, not only as legal tender but also as an expression of faith and economic potential.
Commemorative Coins: Beyond Legal Tender
Dr. Kishore Nuthalapati artfully make clear how currency coins, like banknotes, extend beyond their role as mere instruments of exchange. They represent faith, trust, and a nation’s historical narratives. While legal tender in certain countries might lack faith among their own people, commemorative coins stand as paragons of trustworthiness, commanding respect and admiration.
Significant Milestones
Commemorative coins are a tribute to remarkable events, themes, programs, organizations, places, and illustrious individuals who have left an lasting mark on history. Dr. Nuthalapati underlines that coins dedicated to individuals are issued delayed and are reserved for those who have made monumental contributions to fields such as science, arts, or literature, leaving an enduring legacy.
Diverse Types of Commemorative Coins
Commemorative coins come in three main categories: circulating legal tender, non-circulating legal tender, and non-legal commemorative coins. Each category serves a distinct purpose, from everyday transactions to preservation and collection, and finally, pure commemoration. The value of these coins often appreciates over time, especially when linked to themes of historical or cultural significance.
Commemorative Coins in India
India’s commemorative coins are exclusively minted by the Security Printing and Minting Corporation of India Ltd (SPMCIL). With denominations ranging from Rs. 5 to Rs. 1,000, these coins celebrate a wide spectrum of events, religions, organizations, and eminent individuals. Dr. Nuthalapati mentions that coins dedicated to individuals, particularly posthumously, witness substantial demand and often carry a premium in secondary markets.
Faith Meets Economics
The article beautifully navigates the interplay between faith and economics in the realm of commemorative coins. While faith is integral to these coins, economics plays a crucial role as well. Dr. Nuthalapati underscores the cost-effectiveness of producing commemorative coins compared to legal tender coins, shedding light on the economic aspect of this fascinating world.
Source: LinkedIn