God of Kings

S. Rajesh,
Tamilnadu - India
Email: rajes1@gmail.com

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Saturday, August 13, 2011

Fake Coins - Caution

Investigations into the first-ever busting of a gang running a business of fake coins gang has led Delhi Police to ask for help from central investigating agencies because a foreign hand appears to have played a prominent role.

Delhi Police sources said, “A fake minting unit had come up at Veerganj in Nepal showed a very "professional” group was behind the entire operation. There was about Rs 1 crore worth of fake coins have entered the country through eastern UP. We are in talks with the Reserve Bank and seeking their cooperation in identifying the fake coins already in circulation. It is quite similar to the one used to transport currency notes to India. The aim is to destabilize the economy. Such small denominations do not attract much attention of the agencies”.

On August 9, south district police busted an international network of criminals involved in minting Indian coins in Nepal and introducing the counterfeit currency into India through big food joints in Delhi, Gurgaon and other metropolitan cities. Two men were arrested — Sudhir Kumar (36) and Daleep Kumar (29). So far, 41,600 counterfeit coins of Rs 10 denomination have been recovered. A Maruti car used to transport the currency has been recovered.

But the main accused — Mangat Joshi who allegedly headed the Delhi operations — is still at large along with at least three other men.The gang allegedly carried operations from the Rohini area in outer Delhi. These coins of Rs. 10 are in circulation in

Delhi and shops and food joints where small coins are required in large quantity. These joint owners have told us that they were approached by the accused who promised to provide them loose currency at a very low exchange rate right at their doorstep. They don’t have to send a person each morning to get the change convinced these owners to settle for this method of operation.. A total of Rs 4.16 lakh worth of fake coins have so far being recovered. They are being questioned on whether they had any inkling that these coins were fraud”.

The one of the accused have disclosed that the gang consisted of around 8-10 members including some Nepali nationals. Sudhir and other members of this gang would stay in Hotel Navraj in Janak Puri, Nepal where one Nepali person would come in a Pajero and deliver Indian counterfeited coins of Rs 10 denomination to his Indian counterparts putting up in the hotel.

Thanks to http://www.latestsamachar.com

Never buy old coins from people who sell them on streets, because most of them are fake. Buy coins from a genuine dealer who has a shop and participates in coin exhibitions. If you have doubts about the genuinely of coins then go to a good reputed coin dealer and show your coins to that person, but also bear one thing in mind that if you have a rare coin and you don't know anything about it the person you show your coins may say it is a fake and buy it from you at a low price. This thing happens, so before buying any coin study about that coin on the internet or refer to books which give you information about the coin you want to purchase.

And some coins with date of 1616, 1717, 1818,  and also 1839 written on it! Apparently the faker forgot the period for which the East India Company ruled India. We know that 1616 was in the Muslim King Jahangir era and the East India Company did not rule India then, though it did set up trade. And in 1939, we know very well that in 1939, George VI was the emperor of India and India was very close to getting its independence. So there is no way these coins had been in circulation in the East India company era, that is established beyond doubt. The deities on these coins are worshiped, but the East India Company never had any reason to mint coins having these deities on them , and never did so.

There is a big fake coin market in Johri Baazar Jaipur. -- So Careful Dear Coin Collectors

Do you collect coins visit and check the year, mint details -

I have display some fake coins images below

do you want more details Please visit: http://beekar-the-numismatist.blogspot.com/p/fake-coins-of-india.html

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