Dick Johnson submitted this item.
Deadline: June 30, 2011. All coins of 25-paise and lower denomination are being recalled throughout India. The 50-paise will remain the lowest coin in circulation. Bring all such coins less than 50-paise to the nearest bank, but not after June 30th!
The economy is the reason for the massive recall. It is just not effective for low-value coins to circulate. Sound familiar? This is occurring all over the world. Transactions are being rounded off to the lowest coin in circulation.
But this is the first such notice of such recalls that I have seen which mentions some coins should be retained for numismatic purposes.
"Some parents said that they would retain some [coins] as keepsake," stated the news story "to show the future generation how the coins looked like in the past." Also: "A few years hence, they may fetch good numismatic value, feel a few."
To read the article, see:
Bangalore: Come June 29, a Quarter won't be Worth a Penny!
Wayne Homren, Editor
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