By Shruti Singh and Alisha Alam Ansari
Every Saturday morning, as the sun rises over the colonial facades of the BBD Bagh area, the quiet corners outside the iconic General Post Office (GPO) come alive. Tucked between history and heritage, a unique market emerges — the Saturday coin market.
Beneath makeshift stalls and atop wooden boxes lie coins that once passed through the hands of emperors, colonizers, and revolutionaries. It’s not merely a place to buy and sell old currency; it’s a living museum curated by passionate numismatists, collectors, and traders.
One such passionate voice is Bittu, a seasoned coin seller and a member of the Numismatic Coin Society. “We collect coins from various periods, from the Mughal era to modern India,” he says, carefully displaying an 1835 British India rupee. Bittu has been a regular in this market for over a decade and views the coins as more than just metal. “In the time of the kings, coins served as portraits — just as the kings kept their images, they also preserved their currency.”
On the types of coins, Bittu says, “A coin featuring Rabindranath Tagore or Swami Vivekananda is commemorative. It tells a story.” For him, collecting isn’t about monetary value but personal fascination. “A coin can cost Rs 5 or Rs 10. If I like it, I buy it.”
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Sanjay Raj, a dedicated buyer and life member of Kolkata’s numismatic society, shares this sentiment. For him, each coin is a piece of history. “No general public can mint a coin — only governments can. That makes them historical artefacts,” he explains while pointing to coins from British India, early independent India, and foreign currencies.
“Each coin can be made of different materials — this one is brass, that one is copper-nickel, and some are made of silver. Each has a different value,” Raj says. He has been collecting coins for over a decade and is particularly drawn to rare coins like the scratch-free 1982 Republic one-rupee coin, which he says can be valued at up to Rs 25,000. “You have to look for coins minted during crisis years — wars or economic downturns — because their circulation was limited.”
Despite changing times, the market has retained its charm and relevance. (Photo by Alisha Alam Ansari)
A trader, Dharam Shah, who has been selling coins at this market for 20 years, emphasizes the market’s unique charm. “I have sold many rare coins in all my life,” Shah says, quickly grabbing a one-rupee coin and lifting it up. “It’s going for Rs 90 and that one, Rs 80,” Shah says pointing at various coins.
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Shah interacts with around 30 customers each Saturday but notes a shift in demographics. “These days, we don’t see many young buyers. Most of our customers are from the older generation.” Yet, he remains hopeful. “This market is more than just business. It’s a gathering of stories.”
The Saturday coin market is more than just a trading spot — it’s a cultural landmark. From Mughal-era copper pieces to Portuguese India’s 1/8 Tanga, and rare banknotes from Angola to those of post-independence India, the diversity is staggering. With no fixed price and bargaining at its core, the market attracts seasoned collectors and curious wanderers alike. It is one of the few remaining public spaces in India where history is not locked in museums but exchanged over counters.
Despite changing times, the market has retained its charm and relevance. In an era dominated by digital currency and online transfers, this physical marketplace offers a nostalgic escape — a tangible link to the past. While old-timers like Bittu, Sanjay, and Dharam keep the spirit alive, its future may depend on a younger generation discovering the magic behind the metal stamps and paper notes.
