A coin in time Malcolm Todywalla on tracing history through numismatics; also talks about it being a good investment

A coin in time

Malcolm Todywalla on tracing history through numismatics; also talks about it being a good investment

Numismatics is the scientific study and collection of currency, including coins, tokens, paper money and other related objects. In the Todywalla household, it was started by Farokh Todywalla as a hobby which gradually grew into a passion. Malcolm Todywalla and his brother, Kaizad represent the second generation of Todywalla Auctions, a business established in 1968. A globally studied, researched and explored field, numismatics can tell a lot about a particular era. “From all the objects that can be salvaged from the past, coinage and paper money are the only true and accurate markers of history that have verified and confirmed by the past itself,” Malcolm says, They are an accurate piece of history of that time, telling us what transpired, he explains. Malcolm has over 900 coins and bank notes, with the oldest coin being around 2,400 years old. The rarest is the Gold Mohur coin from Manipur which dates back to 1,800 years ago and is almost the only coin in the world of its kind. Coins are catalogued and stored with careful precision. “Every coin is evaluated for its authenticity, history and value and accordingly priced and auctioned, with prices ranging from a few thousand rupees and going into lakhs,” he says. Is numismatics a sound investment after art? “Historical data suggests that numismatics rules the roost as an alternate investment as returns are consistently positive and far more secure than other assets,” Malcolm explains. The primary reason is that supply is very limited unlike fine art, where new artists are introduced and existing artists try new styles, he says. “As new collectors enter the market, prices get pushed up making it a great opportunity for investors.” The last six years has seen several new entrants in the field, nationally and globally, especially in the under-50 demographic, as more financially empowered youth invest in numismatics, he observes. What’s the future like? “The market is sure to grow with new entrants and a shrinking supply, pushing prices up continuously,” he concludes.