20/09/2021
"rare 1 rupee coin sells for 10cror"
You might have seen such news going around on local news pages.
The articles claim that an 1885 British Indian 1 rupee has sold for a load of money at some unnamed auction. All the articles are copied from one Indian article posted around a month ago, and there are a few even from May in Hindi.
The problem with these articles are that they give 0 information about the actual coin and only portray it as a cash in. The misinformation is to such an extent that they dont even post the actual picture of the coin, instead substituting it for a pile of random coins or a modern indian coin.
Now if we look at the 1885 issue of the British india rupee, there are 8 different types, with more than a 150million coins minted with the year 1885. It is infact, a very common coin.
If the story of the auctioned coin is true then the coin would have been, by a far fetch, the 1885 proof restrike, which is the rarest of the date. proof coins are presentation coins which never go into circulation and are usually sealed in plastic cases to protect them. They are display coins.
Such articles cause anyone who might have an 1885 coin to think that they have something which can make them an instant millionaire, and which leads to the comedic olx posts of coins priced like diamonds. Or in the case of articles with incorrect pictures, people thinking of those common coins as being jackpot.
Here is the same coin from 1900 in my collection. These coins are priced on retail from around 2k to 20k depending on the slight variations in design, some being rarer than others.
Victoria, empress
1900
Silver rupee
British India
