First Look of the ₹800 and ₹900 Coins

Hey Everyone! Happy New Year! 🎉

Here’s the first look at the newly issued ₹800 and ₹900 coins, commemorating the 2800th Nirvan Kalyanak and the 2900th Janm Kalyanak of Parshvanath Bhagwan.

They look nice, and I imagine very $$$

More strange denominations from India - not surprising.

They will most likely be very expensive to buy.

Aidan.

BCNumismatics

More strange denominations from India - not surprising.

 

They will most likely be very expensive to buy.

 

Aidan.

It'll be around ₹13k for both the coins. 

That’s pretty expensive. I guess they are full silver as against 50%

ashlobo

That’s pretty expensive. I guess they are full silver as against 50%

Full silver.

Sterling silver or .999 fine?

Aidan.

So far, there have been some .800 and .999 silver. So I imagine these will be the latter

BCNumismatics

Sterling silver or .999 fine?

 

Aidan.

.999 fine silver or pure silver.

I was wondering if they sell them at 13,000 rupees, why not face value them at Rs 2,800 and Rs 2,900.

So you have 1 Rupee for every year?

8 + 9 =17.

Seems strange to offer them under their face value.

Aidan.

Umm its 800 and 900 rupees, which equals 1,700 rupees.

The predicted cost is 13,000 rupees, so no way near face value, massively overpriced.

Thats $260 NZD for coins with a FV of $34.

Although I am not sure how much silver there is and size, but a generous guess is around 25 grams of silver per coin, which would mean around $80 worth of it.

Moneytane

Umm its 800 and 900 rupees, which equals 1,700 rupees.

 

The predicted cost is 13,000 rupees, so no way near face value, massively overpriced.

 

Thats $260 NZD for coins with a FV of $34.

 

Although I am not sure how much silver there is and size, but a generous guess is around 25 grams of silver per coin, which would mean around $80 worth of it.

Both coins are made of 40 grams of pure silver each, totaling 80 grams. Considering the current silver prices, along with making charges, taxes, and premium, the mint charges approximately ₹160 per gram. This brings the total to around ₹13,000. It is important to note that this pricing follows a standard practice among mints globally, where proof coins are priced higher due to their superior finish and limited availability. The cost is not based on the face value of the coins.

I just booked the swaminarayan temple coin which is also .999 silver. Proof coin in folder was 6.6k. Pretty hefty price vs the 50% silver SBI building for 3.5k

ashlobo

I just booked the swaminarayan temple coin which is also .999 silver. Proof coin in folder was 6.6k. Pretty hefty price vs the 50% silver SBI building for 3.5k

Congrats. 

I think these coins are issued at such a high price to exploit religious sentiments of Jain community.  Also There is no reason for the mint to create artificail scarcity by issuing a very limited number of coins. 

If you can see, the coins go out of stock within minutes of booking opening on SPMCIL website. I just see a foul play to create hype for the coin and let traders take advantage of true collectors.

Yeah, the latest Jain monk coin has been sold out apparently. I decided as well to stop collecting Indian proof coins after 2025. I started buying in 1993 with the quit India movement. It was some 650 rupees with one set issued that year.

Then Calcutta jumped into the mix and it became 2 coins a year. From 2014 or so, it spiralled and now we are at some 20-25 sets over the last couple years With prices ranging from 3500-7000 rupees per proof set. It’s expensive with many of the themes and/or designs quite questionable as well as uninspiring. For me, the joy of receiving a new coin set has disappeared for a while and I’ve just being going through the motions since I have been buying for the last 32yrs. 
Lately, Ive started getting move involved with charities related to animal rescue and welfare, it just makes it easier to divert that 80k-1Lac each year spent on coins which sit there and do nothing  instead to  sponsoring rehabilitation/surgery/care of a voiceless soul and get some satisfaction we do  something to make their lives better