MMTC-PAMP's Raksha Bandhan Silver Coins | Rakhi Special Gifting Ideas 2022 | Indian Hobbyist

[@IndianHobbyist]

▪︎ Sign Up using my Referral Link and get Discount 🪙 : • Ajio Signup Bonus Link : bit.ly/3ezgSvn • Ajio Signup Code : INDGWQF12 • CoinBazaar Signup Bonus Link : www.coinbazaar.in/?s=161154805 • CoinBazaar Sponsor Code : 161154805 (Get upto ₹125 off) • eJohri Signup Link (Get ₹500 worth ejCash) : www.ejohri.com/referral-program/MjMwMTVqMnQ%3D • Silvera Refer Code (Get upto ₹125 off) : 238187

[@benisonfootwearind.2921]

Beautiful coins

[@thelankeshwar5652]

Good

[@arunhasija2428]

Price please 🙏

[@IndianHobbyist]

You can buy this coin for around ₹2000/-.

[@HiteshAggarwalchannel]

does the color add to the weight of the product mmtc

[@IndianHobbyist]

MMTC-PAMP offers positive tolerance. Most likely, the weight of the colour won’t have been added to the weight of the coin. And even if it’s added, the weight of the colour is negligible. However, I must say that these thematic coins are collectible in nature and mostly for gifting purposes. Thus, carry a hefty premium. If ‘weight’ is the main concern, Opt for Bullion Bars for investment.

[@mth469]

what do you do with all the coins you buy? do you give them away or do you sell them on or do you keep them.

[@IndianHobbyist]

Mainly I stack ‘em and keep them in a safe. I don’t sell ‘em… And I generally don’t review the products that I gift to others…

[@mth469]

@@IndianHobbyist Will you get back the premiums you pay buying these numismatic coins if and when you sell it? I doubt it. If you are an investor, better to purchase stuff you can offload easily. i.e govt issued gold coins like maples, eagles, perhaps sovereigns..etc.

[@IndianHobbyist]

Yes, I agree… I do buy cast bars for ‘Investment’ purposes. However, I occasionally add these coloured silver coins and collectibles because I cherish variety and it makes my Bullion stack more glance-worthy. I would love to add Maples and Eagles to my collection and even had tried importing ‘em as well, But customs had seized my package.I was ready to pay import duties as well, but nothing worked out. India’s national gold coin (Indian Gold Coin) is almost sold-out everywhere. If they relaunch it, I might add some of ‘em to my stack. I did give out some Sovereign 2020s to my collector friends. And I did sell few Sovereign 2020s through Instagram DMs.Still have few of ‘em left. Thanks for being concerned and thanks for your comment. I appreciate it! 😇👍

[@mth469]

@@IndianHobbyist Chances of recovering your premium on numismatic coins (unless they are rare) is low. To me it's not an investment. Maples, Eagles, Buffalos, Philharmonics (24k) are best. Easy to offload, and easier to detect counterfeits. Harder to detect 22k counterfeits. Cast bars are likewise not of standardized dimensions so they too are hard to authenticate. There must be tons of fakes floating around. Why is it a problem getting gold shipped from abroad to India? What did customs say - specifically what rule prevents it's importation?

[@IndianHobbyist]

I checked the DGFT website and it mentioned that the ‘Bullion and Numismatic articles’ come under ‘restricted’ items… I as an Individual can’t buy bullion, but bullion firms and exporters can import it and get it cleared. I arranged few Customs-Clearing agents, even they said that they can’t help in case of such imports. I was ready to pay any custom duty/fine be it even 200% if they asked, but each customs authority I reached out to said nothing can be done in this case… Later that day, I was acknowledged that it was DHL that was hoarding my package and not customs… Because, no customs personnel knew about my package and they all said the package is ‘Lost’ and there’s no record. Even DHL helpline, website tracking and exporter said that the package is lost. When I went personally to the port, the DHL’s clearing agent asked me for a bribe and said that the package is with him. Too many red flags while dealing with DHL and importing bullion to India. My cousin had quite a similar experience too.His bullion package had gone missing from the port, technically it was stolen. He was also charged for storage for that package. A relative of mine who’s into import and export said that DHL has quite a bad reputation for international packages.And it is a common sight to see ground-level DHL personnel and DHL clearing agents asking for bribes as to get package cleared or delivered to the consumer. They blame it on customs while in fact they’re the ones who hoard and steal these packages and declare them lost.

[@Ramesh-cn6js]

Another nice review and sorry to here about your incident with customs and DHL. Also I see these coins more of a collection rather investment as the premiums are high and even the case is same with American eagles, Maples etc... when you go for their proof versions. The only place where you get more value for money is by investing in non proof versions or uncirculated and bars or sovereign gold bonds. Also it would be great if MMTC PAMP can sell uncirculated silver and gold coins where there won't be any packaging. And when we talk about the IGC the premium is on another level, at least they can sell uncirculated versions in bulk similar to that of American Silver & Gold Eagle monster boxes where most coins would sell a little over the spot. Anyway I am still waiting for your coin grading experience video :)

[@IndianHobbyist]

Hey Ramesh, it’s alright, don’t be sorry…and Thanks for your comment… 😇 (This is gonna be a huge reply… I tried to make it as short as I can like my videos but couldn’t help it.) With existing supply-chain logistics full of loop-holes…Uncirculated/Loose bars too carry risk of being counterfeited unless buying from reputed sources. Thing is, I’ve personally seen people who’ve tried to save few bucks when buying gold but later realised that the gold they have purchased at a ‘good price’ is a counterfeit. There are tons of jewellers out there (even with reputed names) who scam people. What’s the point of saving ₹200 on the bar if the bar you purchased for ₹20,000 turns out to be a counterfeit. 🤷🏻‍♀️ Majority Indians still buy gold without invoice as to avoid hefty taxes levied on Gold. This gives jewellers an open opportunity to exploit and scam people. With such risks in Bullion trade… I opt for premium bars from reputed brands such as Tanishq, MMTC-PAMP, etc. The premium that we pay for such brands is for the peace-of-mind, knowing that the gold we buy is genuine and trust worthy with no weight tolerance. Tolerance is another shady technique jewellers use as to cover their costs, thus I majorly opt for Bullion Brands which offer zero or positive weight tolerance. As I’m investing for long-term, I don’t really care about that premium. And I really want to pass-down a good, eye-pleasing collection to next generation, thus opting for best pieces indian market has to offer, pieces that the next generation would be proud of, love to glance and cherish as well and be thankful for... Collectibles and Bullion pieces that they’ll think twice of before selling them off. I do have some cast bars that I don’t review because they aren’t review worthy and eye-pleasing imo. Yes, there might be a reason why MMTC-PAMP doesn’t sell uncirculated or loose bars and I think it’s mainly because of supply-chain. We, as consumers are left with few options, buy silver and gold cast bars or as granules, these are the best option if we want to purchase in bulk. I prefer physical over digital thus I don’t bother with SGBs or stupid apps. IGC is whole another story, its design needs to be revamped, less involvement of bureaucrats and decent and courteous sales staff would be appreciated, and it needs more point of sales and a buy-back policy too. I’d really love to grab Britannias and Krugerrands in Bulk, might grab a Kilo or 100 ounces of ‘em easily if I had that option.🥺 I wouldn’t buy any local brand other than MMTC-PAMP if Importing such bullion pieces were allowed. 🙈 No wonder they’ve restricted bullion imports as to save local jewellers and mints from going bankrupt. As for grading video, it might take a while. 😅 I’m literally sorry for not delivering grading video at this point. There are almost no decent coin grading companies in my vicinity and I don’t want to opt for domestic options either. Domestic options just wouldn’t cut it. I’d rather wait and get it graded by NGC or equivalent and capture a good video explaining the process in detail for viewers... Thanks for your comment Ramesh, it really means a lot. 😇👍 It was fun to have such a quality discussion with you and ‘M Th’. Thanks for coming to my TED-talk. 😜 Happy Stacking! 😎👍

[@Ramesh-cn6js]

@Indian Hobbyist that's lot of information you provided in your comment above, and I really appreciate the effort you put into your videos. I totally agree with some of the points mentioned above and when it comes buying uncirculated bars and coins, I would prefer buying them from a trusted source or directly from MMTC PAMP. And if someone is willing to take the risk of buying products from non-trusted parties then the responsibility lies with that individual. For example, in USA individuals cannot buy monster boxes for American silver eagles and gold eagles directly from US Mint. Mint sells them to premium dealers and these dealers will then sell them to regular buys at a small premium like APMEX. I would expect something like this from Indian government so that more people will join in stacking and collecting. It would be great if Indian government makes the price of existing IGC’s affordable by decreasing the premiums and providing uncirculated versions to individuals or dealers. By doing so the market will grow and attract more and more people into collecting and stacking. And I am totally not into buy back and this is because we have less ways to cash out the bullion, we expect the government to provide buy back. If and only if there is a better place to quickly sell the coins like having coin shops, and e-commerce sites like coin bazaar, eBay. No worries on the grading video as I did send one for myself to NGC and I got a PF 69 for 150 years Mahatma Gandhi coin. Grading experience was awesome and the only regret I had is the quality of the coin from SPMCIL as I can see some serious quality issues and I know if won’t be a PF70 before sending it for grading. Finally, I would like to thank you for the content you provide, and I wish more people will subscribe and get into coin collecting by watching your videos.

[@IndianHobbyist]

Thanks for your reply Ramesh and thanks for your appreciation. It means a lot. (This one’s a huge reply too…😅🙈) Yes, ‘If people play stupid games buying from such shady sources, they deserve winning stupid prizes’.🤷🏻‍♀️ There’s quite a wide gap between supply chain from Mints to Consumers in India. Some private mints don’t even sell directly to consumers due to some laws. I had reached out to MMTC-PAMP to buy cast bars in bulk, but they gave me the general price-list that they update everyday on their website. So, there was no advantage of buying in bulk at all or maybe the sales staff wasn’t motivated or remunerated enough. I may sound like a conspiracy theorist, but hear me out, Government doesn’t want us to purchase gold and demotivates us in many ways. Take some SPMCIL Gold Coins for example, the premiums are 100%+ . A 5 gram gold coin is selling for roughly ₹40,000. Instead of giving incentives to people to buy gold, Government with IGC’s premium and SGBs are making people buy digital over physical and this is bad. With 3% Tax and with ‘already high’ spot price in India, people would prefer importing bullion. But that’s restricted too. I don’t care about buy-back too but majority Indians do, MMTC and SPMCIL have no buy-back policy. Even Gold Monetisation Scheme has too many hurdles and it is quite bureaucratic too.Even the Interest Rate is ultra low. As for grading, sometimes it’s completely the ‘luck’ factor to either get a PF69 or PF70. But yes, SPMCIL might be at fault here if you get PF69. They do need to buckle-up and improve their quality standards compared to International Mints. My Goddess Laxmi Silver Coin by SPMCIL had tiny milk-spots when I received it. Again, thanks Ramesh for your comment. I’ll try my best to cover these important points and topics in my videos so that it reaches to a wider audience and hopefully falls to right ears. It’ll be an ultimate Bullion buying guide for Indians.Hopefully soon. 🤞 I have a huge back log of videos and topics that I have to cover, won’t rush ‘em and compromise on quality. But yes, I have high hopes. Indian Quality Standards will improve in long-run, someday we’ll compete with International Mints too. And someday people overseas too would love to grab Indian coins as well. Happy Independence Day Ramesh! 😇🇮🇳