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Numismatists seeks exemption from PM on keeping banned currencies

‘Bhanawat has a huge and rare collection of currency notes, coins and stamps anywhere in India’

Udaipur : Currency collectors in Udaipur city are in a dilemma over the government’s dictum on keeping the banned notes. If they stick to their possession, they risk seizure and penalty and if they surrender, they lose records! Mewar Philatelic Society, a 28 year old organization having over 100 members have written to the Prime Minister seeking exemption from the provisions of seizure and penalization for  possessing  the old 1000 and 500 rupees notes. Vinay Bhanawat, the founder of the organization who himself holds 22 world records under various categories of currencies and coins have recently written to the prime minister. “ Currency collection have been my hobby for 45 years now and I have 67 bank notes of old 500 denomination and 56 notes of 1000 rupees-all having special serial number. The total value is 57,500 rupees and if as per the new provisions, my collection is seized, not only I lose my precious collections, but may have to pay 10 times fine of the amount seized” Bhanawat says. The 60-year old numismatist has a vast collection of fancy number and special series notes. He has a coin of Rs 150 of Rabindranath Tagore issued on his 150th birth anniversary.

He has 90 thousand bank notes ending with ‘786’ worth 11,33,595 rupees. which he collected during February 2008 to September 2012. Bhanawat also has a collection of total 1008 defective notes varying between Rs 1 to Rs 1000 denomination issued by the RBI. These notes have rare defects like missing serial numbers, mark shifts, misprints and amount to a value of 33,195 rupees. “ The notes may be trash now for the common man and the government but for those like me who have dedicated lot of time and money to collect cannot afford to part from them” Bhanawat says. Other currency collectors too demand exemption from the law debarring a person of possessing old currency notes. “ Ours collection is the outcome of passion and not any black money.  We request the government to exempt people like us who have taken much pain to follow their passion of preserving special notes” philately society members said.


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