Numismatics - I have a serious doubt on numismatic claims Gold Quest stands to make
Although I am not a numismatist, I can clearly make out that the coins minted by Gold Quest do not carry any numismatic value
The company mints these gold coins of 6 gms or 8 gms whose value is not more than 10000 and at the same time they also do not carry numismatic value
This is not just gut feeling - this is also supported by facts
I went to an exhibition where numismatic gold coins were displayed.
They were rare coins in circulation during the time of Akbar, Shah-Jahan, Shivaji which were more than 100 years old and were indeed a rare collection. They fetched a premium value because of their rarity i.e. a Re.1 coin in copper fetched something like Rs.5000 - a huge premium
So for a coin to have numismatic value, it needs to satisfy 3 criteria
a) There should be a legal authority like the Central Bank which must mint those coins or a king should order minting of these coins
b) They should have been in circulation at that point of time
c) They are very rare to fetch a premium
Now Gold Quest does not satisfy the first two criteria - they themselves come out with Series of coins
They are not minted by the Government
Secondly these coins are not in circulation today nor will they be tomorrow to fetch numismatic value
I have serious doubts whether these coins will fetch premium except if there is a crazy collector collecting these coins
People can be duped
Beware!
Regards