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Illegal e-listing of coin leaves enthusiasts fuming in Mumbai

In 2015, the government had released a Rs 100 Maharana Pratap commemorative coin and Rs 10 coins of Maharana Pratap for circulation for public use on his 475th birth anniversary.

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The recent exhibition of currency coins and notes held in the city was abuzz with a new trend among the coin collectors who were eagerly discussing and checking the availability of the Rs 100 Maharana Pratap coin which was released by the government as a commemorative coin in 2015. Illegal sales of these coins on eBay India have left the city's numismatists fuming.

In 2015, the government had released a Rs 100 Maharana Pratap commemorative coin and Rs 10 coins of Maharana Pratap for circulation for public use on his 475th birth anniversary. These coins are being sold for Rs 1,500 upwards by a prviate trader on eBay despite the government initiating a process of booking which will be closed on May 3 and will be later minted and distributed among the public for coin collections.

The government mint has not issued Rs 100 Maharana Pratap coins and is only available for booking. Only circulative coins are legal currency. But due to the availability of these rare coins has now made collectors eager to have it in their inventory.

Siddharth Shah, founder of Indian Coins and Currency Group, said, "If the government is not minting the commemorative Maharana Pratap Rs 100 coin then why is it being illegally sold online? The collectors have the coins in their inventory but it is illegal to display or possess such counterfeit coins without the government issuing it."

"We have informed the government agencies and the cyber crime cell of Mumbai police about the sale of these coins and it is high time that the government starts cracking the whip on private coin minting companies which illegally mint these coins. Also, coin collectors should be aware that these coins could be fake and might not contain metal as promised by the seller," added Shah.

Farokh Todywala, President of Mumbai Coin Society, said, "It is important to tackle such issues as it takes away the credibility of the antiques. In 2017 too, the commemorative Rs 200 coin of Tatya Tope was in circulation and was sold on websites."

Gorakhnath Yadav, production head with Mumbai mint, said, "The commemorative Rs 100 coin of Maharana Pratap has not been issued by us. The bookings have been opened and the circulation will be done after the booking is closed on May 3. Action will be taken against such persons for minting government coins illegally."

Akbar Pathan, Deputy Commissioner of Police for Cyber Crime Cell, "We will take action against persons for misusing the internet to sell counterfeit currencies and coins. The complaint will be scrutinised."

A spokesperson from eBay India said, "eBay.in is an online marketplace and an intermediary that connects its users - independent buyers and sellers. Users are required to comply with our User Agreement that mandates compliance with applicable provisions of law. We promptly disabled access to these listings. Further, the concerned sellers will be notified that eBay will initiate legal action if their listings violate any provision of law."

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