how to identify fake 10 rupee coin

how to identify fake 10 rupee coin

This coin is rumored to be a fake one due to chaos on social media. However, the Reserve Bank of India (RBI) issued an official statement to address these rumors declaring that the old the design prior to 2011 is valid and is legal tender. [5]
The third design of the ₹10 coin, minted since 2011 features the lettering “भारत” on left and “INDIA” on right on the outer ring, and the year of mint and mint mark below. At the center part of the coin’s obverse is the Lion capital with the lettering “सत्यमेव जयते” below it. On the reverse it features 10 notches with the ₹ sign below it, and the number 10 below the ₹ sign. [6] [7]

How to identify fake 10 rupee coin
Malda, Oct. 18: Many residents of Malda have said they were facing problems while transacting with Rs 10 coins as there is a fear that fake coins of this denomination are circulating in the market.
According to specifications by the Reserve Bank of India, the Rs 10 coin should be “bimetallic”, circular, with a diameter of 27mm and a weight of 7.71gm.

How to identify fake 10 rupee coin

  • He puts 15 spokes instead of 10?
  • He forgets to put the rupee symbol?
  • He adds 2 extra horizontal lines?
  • He puts the number 10 in the center?
  • He puts India and Bharat side by side?

Visited a grocery store in Bengaluru, paid for groceries in 10 Rupee coins, only to be rudely turned away? The shopkeepers said, “I don’t accept 10 Rupee coins.” He shows you a bag full of 10 Rupee coins. No one takes them he says. You are not alone. Many shops, stores and eateries do not accept your 10 Rupee coins. They say…The Government has banned 10 rupee coins. Many shopkeepers say… “There are a lot of fake 10 rupees coins. How will I know the difference between the fake and real? ”

How to identify fake 10 rupee coin
While there is still a section of people who refuse to accept Rs 10 coins believing them to be fake, India’s central bank, Reserve Bank of India, set the record straight recently saying that all Rs 10 coins currently under circulation are genuine and legitimate. Not leaving anything for speculation, the banking regulator mentions that this is a total of 14 categories of Rs 10 coins currently in circulation.
2. While explaining the reason for minting a different set of coins, the Reserve Bank of India (RBI) said that since currency coins have longer life, the coins of different designs and shapes circulate in the market at the same time.

How to identify fake 10 rupee coin
The Reserve Bank has advised members of the public not to give credence to such ill-informed notions and ignore them and continue to accept these coins as legal tender in all their transactions without any hesitation.”
Remember that the cost of producing the fake currency coin is high when compare to producing the fake currency notes. But still, I am confused why such fake 10 rupee coins circulating (if the news is genuine).

References:

http://m.telegraphindia.com/states/west-bengal/have-a-rs-10-coin-check-for-fake-in-counterfeit-haven-malda-residents-refuse-a-coin/cid/1667835
http://indianmoney.com/articles/rupees-10-coins—fake-or-real
http://www.ndtv.com/business/rs-10-coins-fake-or-not-as-rbi-clears-the-air-10-things-that-you-should-know-budget-1811761
http://www.basunivesh.com/2016/11/08/how-to-identify-fake-10-rupee-coins/
http://www.indiatoday.in/education-today/gk-current-affairs/story/all-14-types-of-rs-10-coin-are-legal-tender-rbi-1148376-2018-01-18