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Forum Home > What's It Worth > 1 Rupee 1970 circulation coin

NDM
Limited Member
Posts: 12

can u pl tell me what is the fair price of the 1 Rupee 1970 circulation coin. so I can think of possesing one.

NDM

September 10, 2010 at 11:39 PM Flag Quote & Reply

kidromeo
Site Owner
Posts: 489
For a coin with mintage of less than 3000 in a country of over a billion, the sky is the limit :D
I came across a fake one for 1000 bucks and a genuine one was offered to me at 18K a couple of years back. A guy also offered it sometime back for online sale at 50K :P
So my guess it there is no standard maket value of this coin and the price is how much you are willing to pay to own it.


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"Coin collecting is the only hobby in the world that you can
spend all the money in the world and still have some left over" 
September 12, 2010 at 5:21 AM Flag Quote & Reply

Shailendra Kumar
Member
Posts: 1

j have 3 such coins ...

November 14, 2010 at 2:27 PM Flag Quote & Reply

kidromeo
Site Owner
Posts: 489

Shailendra Kumar at November 14, 2010 at 2:27 PM

j have 3 such coins ...

Well congrats then :)

--
"Coin collecting is the only hobby in the world that you can
spend all the money in the world and still have some left over" 
November 15, 2010 at 5:20 AM Flag Quote & Reply

shrini
Limited Member
Posts: 104

i have one too :)

November 16, 2010 at 8:20 AM Flag Quote & Reply

kidromeo
Site Owner
Posts: 489

shrini at November 16, 2010 at 8:20 AM

i have one too :)

lucky you :D

--
"Coin collecting is the only hobby in the world that you can
spend all the money in the world and still have some left over" 
November 17, 2010 at 7:58 AM Flag Quote & Reply

shrini
Limited Member
Posts: 104

i came across one coin last week in coimbatore coin exhibition, there its price was around 7000

November 17, 2010 at 8:00 AM Flag Quote & Reply

kidromeo
Site Owner
Posts: 489

Then in fact this might not be a rare coin as claimed and the catalog mintage figure might be wrong. Maybe they missed a 0 after 3046 :lol:

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"Coin collecting is the only hobby in the world that you can
spend all the money in the world and still have some left over" 
November 17, 2010 at 8:07 AM Flag Quote & Reply

shrini
Limited Member
Posts: 104
Recently i found that 3046 coin of 1970 1 rupee coin were minted only for proof, and for circulation 1 lakh coins were minted but this information were not given clearly in many sites, so people thought that there are only 3046 coins and that s why they are making the cost of this coin in many thousands, hence it is rare but its not the one to get in 15, 20 and 25 grands
February 8, 2011 at 3:19 AM Flag Quote & Reply

kidromeo
Site Owner
Posts: 489

Thanks for the additional info Shrini :)

You should send Krause publicaton a notification with the info and reference as most collectors depend on their catalog to make purchase decisions.

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"Coin collecting is the only hobby in the world that you can
spend all the money in the world and still have some left over" 
February 9, 2011 at 6:51 AM Flag Quote & Reply

shrini
Limited Member
Posts: 104
Sure i wil do rony:-) thankx for ur suggestion
February 9, 2011 at 11:51 PM Flag Quote & Reply

ignoramus
Limited Member
Posts: 24

so, the mystery of 1970 one rupee is solved finally! congrats, srini, for the meticulous work

July 30, 2011 at 11:43 PM Flag Quote & Reply

shrini
Limited Member
Posts: 104
@ignoramus : its ma pleasure to share the information's i know:-)
July 31, 2011 at 3:17 AM Flag Quote & Reply

Sachin Gupta
Limited Member
Posts: 6

Hi,

I am new for this forum but I looked this forum and the articles from last 1 year. I need one help here. I have a following questions.

I bought this coin from USA. it is 1970 one rupee uncirculated coin. Can anybody judge whether this is genuine coin or fake?

Also, if this is genuine then what is the worth?

Regards

Sachin Gupta

January 23, 2012 at 1:00 PM Flag Quote & Reply

cranko
Limited Member
Posts: 113

It varies. Sometimes $100. Sometimes $200. Nobody knows the mintage. It's not that high. The proof is much rarer.

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Sanjay C. Gandhi

January 23, 2012 at 2:06 PM Flag Quote & Reply

Sachin Gupta
Limited Member
Posts: 6

cranko at January 23, 2012 at 2:06 PM

It varies. Sometimes $100. Sometimes $200. Nobody knows the mintage. It's not that high. The proof is much rarer.

How much should I pay for proof or 1970 proof set?

January 23, 2012 at 5:20 PM Flag Quote & Reply

kidromeo
Administrator
Posts: 124

The 9 coin 1970 proof set has a catalog value 18K. The market value is around 22K~24K

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"Coin collecting is the only hobby in the world that you can spend all the money in the world and still have some left over"

January 23, 2012 at 7:38 PM Flag Quote & Reply

cranko
Limited Member
Posts: 113

kidromeo at January 23, 2012 at 7:38 PM

The 9 coin 1970 proof set has a catalog value 18K. The market value is around 22K~24K

There are three varieties for this coin. Proof, PL (Proof Like), and MS (Business Strike). Nobody knows the real answer to this question. We can answer one : There are 2,900 PROOFS of 1970. I have all three coins, and the differences are Proof : "B" mintmark, Proof Like : fairly crisp diamond mintmark/and a very sharp srike with proof like surfaces which are found only in those brown Vinyl Packets unless they were broken out, and sold seperately, Business Strike: diamond mintmark that is not as sharply struck as the "PL" strike, and the strike is a little bubbly. These are the comments are from my experience. Yours may vary-

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Sanjay C. Gandhi

February 1, 2012 at 2:00 AM Flag Quote & Reply

cranko
Limited Member
Posts: 113

The above coin is from a Brown Vinyl set. Notice the hazing, and the sharp features. 

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Sanjay C. Gandhi

February 1, 2012 at 2:03 AM Flag Quote & Reply

cranko
Limited Member
Posts: 113

Sachin Gupta at January 23, 2012 at 5:20 PM

cranko at January 23, 2012 at 2:06 PM

It varies. Sometimes $100. Sometimes $200. Nobody knows the mintage. It's not that high. The proof is much rarer.

How much should I pay for proof or 1970 proof set?

Sachin,

I may of given you incorrect information. I know the mintage for the 1970 Proof, but can't confirm any of the other mintages. I can confirm that finding the Business Strike is very difficult from my experience. Sorry aboput the mixup. 

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Sanjay C. Gandhi

February 1, 2012 at 11:20 AM Flag Quote & Reply

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