Dus ka dum - Rs 10 coins a new rage

Shonali Ghosal, TNN Jul 5, 2009, 03.36am IST

NEW DELHI: For coin seller Naresh Kumar, who sits on a footpath near the Paranthewali Gali in Chandni Chowk, these are paisa vasool days. Literally. For him, as well as other coin sellers who line the footpath, business is brisk. And the reason is the high demand for the new shining bi-metallic copper-nickel coins.
Still a rarity in the market, collectors are making a beeline for footpath sellers like Naresh on the stretch from Lal Qila to Sadar Bazar in Old Delhi, assured of getting the first edition of the all-new Rs 10 and Rs 5 coins. Of course at a premium.
Earlier, Naresh was just a moneychanger, exchanging old notes for new at a small commission. But ever since the RBI released India's first Rs 10 coin and new 5-rupee ones, he's making a neat pile on the `new beauties'. Charges vary from anything between Rs 12 and Rs 16 for a Rs 10 coin depending on your ability to bargain. Similarly for a 5-rupee coin, you shell out Rs 6-8.
Naresh buys his coins from an agent at Rs 5.50 per Rs 5 coin and Rs 11 for Rs 10 ones. "Ek agent hai jis se hum sikke kharidte hai,'' he says. Some of them, he adds, also go to RBI and exchange old tenners for the new coins.
The coins are impressive although they're slimmer and are light. The Rs 10 weighs a little less than eight grams; the Rs 5 one is lighter than its current avtar at six grams. Naresh holds a 10-rupee up to the light then flips it onto his palm. The bi-metallic coin glints in the sun.
Designed by Ahmedabad's National Institute of Design, the team headed by principal designer Anil Sinha also consisted of product designer Sahil Karkhanis, three student research associates and ergonomist Subir Das. Ergonomists ensure that equipment, facilities and systems are designed and organized to the highest standards of health, comfort, efficiency, and safety for the people using them.
They submitted five designs of which two were selected. The Rs 10 coins are in two designs, the Rs 5 in one and retains the Asoka pillar.
"It's a real steal to be able to own them at such minimal rates as compared to those quoted by the auction websites,'' says 21-year old Ravi Sinha, an engineering student. While auction websites have the new coins on sale, the prices are as high as Rs 70 for a set of three, not including delivery charges. It's the streets of Chandni Chowk, therefore, that collectors are flocking to.
In the meantime, another coin-seller Suraj is packing up for the day. He's sold his entire stock of Rs 10 coins and has to turn back autowallah Vikas. "I bought a new Rs 10 coin but my uncle found it unique and took it away. Now I have to buy myself another,'' says Vikas. Getting your hands on the first edition is important, and collectors will return to buy the coveted coins. For paisa or for pyaar.

Source here