Difficult Times For Numismatists In India

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Author	Replies: 6 / Views: 1,313
Joe2007 Pillar of the Community United States 3843 Posts	Posted 01/09/2017 1:36 pm Demonetisation hits numismaticians http://timesofindia.indiatimes.com/...56381517.cms Sad times for collectors in India. Report this Post to the Staff

Finn235 Pillar of the Community United States 6130 Posts	Posted 01/09/2017 2:57 pm I am struggling to imagine that... their largest denomination is worth the equivalent of US $15, and it's now illegal to own more than 10 of them! And don't even get me started on the policy of forfeiture of valuables! Don't get me wrong, I love collecting Indian coins, and I have a deep appreciation for their culture, but the country seems to be collectively heading off the deep end! Report this Post to the Staff
XavierOfGreen Pillar of the Community United States 2589 Posts	Posted 01/09/2017 3:07 pm Prime Minister Modi is a joke, the so called cashless society arguements are irrelevant in India. When you have a country where people are so poor that they can't afford to own a computer how are they supposed to utilize a purely electronic monetary system. Report this Post to the Staff
oriole Pillar of the Community Canada 5246 Posts	Posted 01/09/2017 3:21 pm Quote: And don't even get me started on the policy of forfeiture of valuables! I may have missed something. What is the policy concerning holding valuables like gold? Report this Post to the Staff
Pacificoin Pillar of the Community Canada 5397 Posts	Posted 01/09/2017 3:42 pm * Removed this bit. Please be nice - Staff * Just remember if it happens there it can happen here. Oh wait it happened already .............. in 1933 ! Report this Post to the Staff
Finn235 Pillar of the Community United States 6130 Posts	Posted 01/09/2017 4:22 pm @Oriole: Quote: Sharma also criticised the fact that government is going to keep a check and regularize the amount of gold to be stored by individuals. "Many gold coin collectors have coins weighting more than 5 to 10 kg at their homes. I know five people having rare gold coins over weighing 20 kg kept in bank lockers or at homes. Such collectors either lose their lifetime collections or have to donate the same to museums. India was a fractured and war-torn place from about 185 BC until 1947. Safety in gold is their culture; I work in IT and with Indian immigrants every day. Many wear thick gold chain necklaces and multiple chunky gold rings on their fingers every day; these are strictly wearable bullion, they usually don't have gemstones and rarely have any significant decoration on them. I can't imagine the government stepping in and banning something that has been so culturally entrenched for thousands of years! Edited by Finn235 01/09/2017 4:25 pm Report this Post to the Staff
Arkie Pillar of the Community United States 2637 Posts	Posted 01/09/2017 7:23 pm Quote: I can't imagine the government stepping in and banning something that has been so culturally entrenched for thousands of years! I work with a Chinese woman who still reviles the PRC for Mao's elimination of the family records. Not to suggest that Modi will kill tens of millions of Indians [although the Mohammedans may not be so confident] but such actions have been taken before. Besides, there are reports on the ground that large numbers of poor Indians are willing to accept their suffering so long as they retain the belief Modi is sticking it to the rich. Report this Post to the Staff
	Replies: 6 / Views: 1,313

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