Republic of India Proof Sets of the 1970s
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India has grown to become the fifth-largest economy worldwide in terms of gross domestic product or GDP and, within 10 years, is likely to rank third in the world. For a country with a population of 1.2 billion, it would potentially seem logical that more citizens of India may honor their past heritage in the form of collecting coins. PCGS has listed over 30 Republic of India proof sets from India for members to build. Roughly 42,000 complete proof sets were struck from 1970 through 1979, and that may not be enough sets to satiate collector demand going forward.
Full article: https://www.pcgs.com/news/republic-of-india-proof-sets-of-the-1970s
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Hey, that was my former coin! I made that top pop at PCGS (shared with 2 others) and was very disappointed what it brought in a Heritage auction. I didn't even make what I had into it taking into account slabbing costs.
^Nice coin.
Have seen these being sold in the range of $465-$550 the 50 Rupees Silver Proof - Fineness 0.5000 - Low mintage less than 2,700 - Not slabbed/graded.
https://coins.ha.com/itm/india/india-republic-proof-50-rupees-1974-b-pr68-deep-cameo-pcgs-/a/232119-62500.s
@pruebas Wow! way too low the end price paid.
These 1970s sets were available for $5-30 range in the early 2000s (oughts), and suddenly saw a sharp price rise around 2007 and they started selling in the $100-500 region. Since then they have flatlined or even dropped slightly in value surprisingly.
One big problem that affected modern Indian proof coinage was the rampant official restriking and opaque mintage numbers. It led to huge price erosions and a large loss of the collector base in the last decade. Even though the 1970s sets were never re-struck, they seem to have suffered the same trend as later Indian proof coinage.
The coins from these proof sets are generally collected in the original sets in original packing, so loose coins (even if highly graded) rarely bring in any sort of premium.
Yes, good points but know also that these seem to be in so many venues and go quite often in group lots for very little even if in OGP.
Interesting points are the restrikings that I did not [naively] realize had been done of modern coins now...
Well, just Love coins, period.