Why Do We Collect…..

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Its been over 20 years I have been collecting some form of money like paper money, coins, bonds and all sort of other collectables. My list of collectable include matchboxes, movie tickets, bus tickets, etc. When I look at my collection now I feel I have collected a piece of history. Over the period of time I have met and became friends with all sort of people who collect money and other things for all different reason.

 

 

My date with collection started around 7 to 8 years of age when a juice vendor in Delhi gave me an American Quarter instead of 50 paise in spare change and I found it interesting how different money is in the world. My mom showed me couple of foreign coins which made me more excited. Over the period of time I became friends with collectors with whom I exchanged and bought the coins. Till date I have all the notes produced by Reserve Bank of India since 1947 till date with individual changes collected like governor signature, introduction of Rs Sign and much more. Also over 400 type of coins.

 

Generally I have seen habit of collection is generic and found its way from parents to kid. Some of the best collections I have seen so far happened when they transferred from parents to kid. My friend who gave me oldest note in my Indian collection has his collection from his dad who also inherited from his dad and because of this inheritance he has one of the best collection of Pre Independence Era coins and notes.

 

One of the buyer from Riches Of The World I met he actually buy coins of all extraordinary shape except round. Most extra ordinary I found was his collection of Canadian Maple Leaf Shaped Coins.

One of My Uncle supplied me with 50 different types of Canadian Quarter Dollar. He collect Canadian and US coin year wise.

 

Some people collect coins from all countries for there birth year or for some important year.

 

I have found large population who collect coins as an investment to be sold of lately.

 

Some are like me who just want to collect money and other things to preserve there own piece of history.

 

Please click on link below and share why you collect.

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Break Notice

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Please be advised that Riches Of The World is on break from 04 February 2020 to 05 March 2020. Please dont make any order. Any order or purchase done will be sent on 05/3/2020. If you are not willing to wait then please advise us and we will be happy to refund you.

Sorry For Inconvenience

 

No Posting period

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Dear Customer,

Due to some emergency in the family, we wont be able to send you any item purchase from us from 14/11/2019 to 30/11/2019. Anything purchased during this period will be sent on 01/12/2019 and business will be back to normal from 01/12/2019.

If you wish not wait this long, please feel free to ask for refund and we will do it.

Apologies for inconvenience.

Coins are the new stamps.

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We have coins commemorating all the occasions now.
Historically coins reflected a major national milestone or achievement but now due to surge in coin collector demand and higher profit margin led Mint’s all over the globe to make coin of less important milestone and sometimes even no milestone.

 

Same like stamps which comes every month commemorating so many occasions and milestones, Mint’s has also followed same path where one ounce of silver of rough value of AUD 21 stamped with national identity and packaged in a nice box can sell for $150 and sometimes run out of stock in a day or so. Since there is surge in demand, supply has to meet it and for some countries this has become a major source of income. If you check coins from a nation called Niue over the internet you will see they have coins for all the occasions ranging from Happy Birthday to Mickey Mouse to Royal Wedding etc and launched Brexit celebrating coin before even UK thought of it.

In the times when coins were casted they depicted important events in symbols and hence symbolises the rules of an authority but now with new metal stamping technique in place the coins has left symbolism somewhere and reflects jpeg picture on metal with exact colours of a picture on a coin. I saw the commemorative coin of Royal Wedding having same picture as the stamp and sold in a set.

Coins needs to scare in numbers to be collected with enthusiasm and to retains the value, moreover needs to depicts the number rather than simply having an image on them like a stamp.

Not Trading Period

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Dear Customers,

Happy Easter.
Thank you for your support over the time. Its holiday and team will be on leave from 18/04/2019 to 06/05/2019. During this period no order will be processed or shipped.
Any order made during this time will be shipped on 07/05/2019.

Thank you for your support.
Sid N., Riches Of The World

30 Years Of Australian $2 Coin.

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On 20 June 2018 the Australian $2 coin turns 30. $2 coin replaced $2 note which were less durable than coins. Although planning to replace $1 and $2 notes started at same time but $2 coin was introduced 4 years later than $1 coin.

Mr Horst Hahne design was selected out of many entries. His design featured traditional Aboriginal man, Southern Cross and Australian Flora. Interestingly coin till 1990 bears the initial of its designer and they were removed in 1990.

The coin was made up of composition of 92% copper, 6% aluminium and 2% nickel with circular shape with 20.50 mm diameter and 6.60 gram mass. Edges of the coin were interrupted milled. The coin was designed taking consideration of visually impaired community and was designed to fit into existing coinage.

Although 160.9 millions coins were produced in 1988 , there was no coin manufactured in 1991.

It was in 2012 when $2 coin was first time designed to commemorate a special occasion. Design by Aaron Baggio was used in 2012 to commemorate Remembrance Day. The coin contained image of poppy in the middle. 5.8 millions coins were produced with poppy and 0.5 millions were produced with red poppy flower in centre. Since then every year the coin is being used to commemorate an important occasion. In 2016 it was the first time that observe of the coin has been changed. It was 1966 changeover commemoration that reflected on the coins in circulation.

Source: Royal Australian Mint Website.

Disclaimer: Although great care has been taken in writing this article, please refer to RAM website for more details and accuracy.

India: Why one rupee notes are different to all other notes.

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Traditionally all the notes in India bears the signature of Governor of Reserve Bank of India except one rupee note. The one rupee note bears the signature of Finance Secretary. Under section 22 of Reserve Bank of India Act, RBI has the sole right to issue all the denominations except one rupee. Government Of India prints the one rupee note.

Understanding why the one rupee note is different, takes us to very basic of how money works. Historically the currency issue has been a matter of Government Authority. The Monarchs or Government use to mint various metals to be used as currency. But with increase in demand of money and to make it easy to carry, various banks started storing the metal coins and started issuing paper cheques, which became paper money over the period of time. To have control over this type of money, countries made central banks, which control all the paper money and issue bank notes. This is the reason why bank notes has “I promise to pay bearer”.

 

That’s why in case of One Rupee, as it is the basic form of currency, its under Government Of India and signed by Finance Secretary.

 

Why note?

The basic of currency in most counties is mostly coins, but in India we have one rupee note. Under British Rule, we had Silver One Rupee coins, but during World War II, British needed silver to be used in making weapons, so paper money were sought to be the solution and trend never ended till 1994, when production of one rupee paper notes were halted due to high print cost and to make way for printing big notes. But in 2015, one rupee notes were introduced again and print cost is more than actual face value. Due to this very less notes were printed.

 

If you have any query or feedback, please email to us at enquiry@richesoftheworld.com.au

 

 

If interested in buying your self a bundle of one rupee note, please click below:

https://richesoftheworld.com.au/shop/notes/indias-complete-bundle-uncirculated-100-consecutive-notes-1-rupees-row160/

Most Secure Coin In The World- UK Introduces New One Pound Coin.

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On 28 March 2017, United Kingdom introduces the new One Pound Coin. The reason for the introduction for the new coin was large scale counterfeiting of old round pound. As per Royal Mint, UK, one in three Pound coin is counterfeit.

 

Projected as most secure coin in the world, the new coin has 12-sided corner resembling old 3 penny coin. It is a bimetallic coin with gold colour outside and silver inside. To make it hard to counterfeit, the coin features a latent image. The latent image changes image when seen from different angle, making it hard to counterfeit. Also have regular security features like micro lettering and milled edges. To add up to security, there is an undisclosed hidden security feature inside the coin.

 

The coin features the fifth coinage portrait of Her Majesty Queen. The reserve depicts the true essence of United Kingdom. The coin has a new dimension of 23.43 diameters and weight of 8.75.

 

Don’t forget to add “Last Round Pound” into your collection. Coin comes with in a commemorative folder from Royal Mint with a Pound coin in an uncirculated brilliant finish. Click Here to check out Last Round Pound.