Rajkot: You may pull out your childhood collection of coins once in a while for nostalgia’s sake, polish them and put them back in the attic for a few more dust-laden years. But what if the same coins earn you a small fortune? What if you can invest in coins like you do in shares and earn returns of 15-20 per cent?
Gujarat Coin Society (GCS) is trying to create awareness in numismatics — collection and study of coins — as an investment opportunity at its ‘Coin Fair’ in Rajkot. More than 350 collectors and auctioneers from across the country will come for the three-day fair starting from Friday. Organisers will also hold an auction at the fair.
“Numismatics can fetch between 18 and 20 per cent annual returns for investors which is handsome compared to the stock market,” says Tajus Naik, GCS president and an avid coin collector. Business of coins takes place at auctions with the auctioneer having to avail ‘antiques licence’ from Archaeological Survey of India (ASI). The previous auction was held at Bangalore last month where coins worth Rs 70 lakh were auctioned. “Two more auctions will be held this year in Indore and Mumbai,” says Farukh Todywala, an ASI-approved auctioneer. “The business is growing by 20 per cent annually.”
Daxesh Kothari, adviser in numismatic investment, says, “Indian coins are in high demand in the international market as they are better preserved and also provide variety. It is better than investing in art as the guidelines, both in terms of value and trade, are well-defined because of the reference books and catalogues available,” he says.
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