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Indian Police Recover More Than 600 Ancient Coins After Investigation

By Kitco News
Thursday December 4, 2014 11:57 AM

(Kitco News) - India’s latest gold rush continues to expand as newspapers report that more ancient 250-year-old coins have been recovered from a small village in the southern part of the country.

On Thursday the Bangalore Mirror, one of the first newspapers to report on the discovery of the ancient coins, said that police have recovered 639 more coins. In total, 729 coins dating back to the 18th and 19th centuries have been found.

According to the article, the more than 600 coins were not recovered from excavation efforts in the area, but were confiscated from the four laborers who originally found the pot of gold Sunday, when they were hired to dig an eight-foot hole that was going to be used as a toilet.

Although the Mirror didn’t provide exact details, other media outlets have reported that police recovered from each of the four laborers 106, 168, 179, 183 coins, respectively.

The police were called, earlier this week, to investigate the discovery of the coins when they received a call from a pawnbroker from a nearby town. One of the workers took a coin to the broker to find out how much it was worth.

The pawnbroker deceived the worker, saying that the coin was a fake and worthless and then called the police to tell them that people had found ancient coins.

In the initial investigation, newspaper reports said the laborers first gave the police only eight coins and after further interrogation admitted to having 43 coins.

After the coins were discovered, the police called the Archaeology Survey of India, which now has the coins and will be looking for the potential owners of the coins. If nobody comes forward with proof of ownership, the coins will become government property.

After researching the area, the ASI said that the coins were located near the ancient Venupolaswamy temple, which at one time was a popular site, and recovered 50 coins after searching the area.

It is still not know if the ASI will continue to excavate the area to search for more coins and historical artifacts. The newspaper reports also don’t say if the four laborers have been changed with anything.

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By Neils Christensen of Kitco News; nchristensen@kitco.com



Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in precious metal products, commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.
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