Playing with the coins

[dropcap]S[/dropcap]ometime ago, a Gurdwara in Delhi had conveyed that it had a surplus of coins of varying denominations to the tune of Rs two crores! The bank staff declined to undertake the effort of counting coins worth so much because it would be a gigantic undertaking for bank staff that are more at ease counting currency notes. Of late, all that they have to do is put a bundle of currency notes onto a computerized portable machine and in no time the notes are counted while the amount is continually displayed on a screen.In Nagaland, five rupee notes or coins are usually hard to come by because most shops prefer to offer toffees or sweets or chewing gum of various brands in lieu of small change. According to State Bank of India sources, its main branch in Dimapur requisitions for small denominations from the Reserve Bank of India and which come every three months The amount which may vary are distributed accordingly. And yet, coins seem to be a rarity despite the fact fine new ten and five rupee coins have been seen doing the rounds but apparently on a limited scale. Among various reasons is that like the Gurdwaras in Delhi most local people tend to collect coins in collection boxes and which are donated to church but this cannot be the main reason because most are ten-rupee notes. Businesses have reportedly started collecting change from the Churches, Temples, Mosques, Gurdwaras etc. Many Nagas prefer to use debit or credit cards and thus avoid the nuisance of so-called scarcity of coins. However, for the majority it is still difficult to buy anything less than ten rupees because coins are not those easily available—and that too with the currency note. Even a cup of tea now costs ten rupees in any wayside tea stall. Or, perhaps some businesses or other vested interests indulge in hoarding for whatever reasons. There is a hobby or pastime coined Numismatics which deals with the study or collection of coins, banknotes and medals. One who indulges in this known as a numismatist. The word is derived from the Greek “numisma” meaning current coin. However, most hobbyists like to collect rare coins meaning those that were in vogue long ago and are no longer in production. And these coins increase in their overall value to collectors as the years go by. They have even become museum pieces. In fact, some housewives have been known to hoard the new ten-rupee coins especially in the rural areas of Nagaland because for them it seems like a novelty—in an apparently lop-sided way of becoming numismatic unknowingly. No matter what reasons or theories may be forwarded the fact remains that shortage of coins seems here to stay and we should be lucky that the cost of a cup tea will not shoot up to Rs 15 because again the nuisance will abound.