How much money does a person need? Well, there is no definite answer. However, the following queries do have. Take the Rediff business quiz and find out how much you know about money - coins and paper.
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1. What is a coin with a minting error called? a) FIDO b) VAM c) Apiked head
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Wrong! The correct answer is FIDO. In coin collecting term, FIDO = Freaks, Irregulars, Defects, Oddities. An error coin is a coin that was improperly made during its manufacture. Also called mint errors, error coins have problems such as being struck off-center or having the wrong planchet type, or any number of other problems that occur during coin manufacturing. A VAM is a Peace or Morgan Dollar die variety. A spiked head is a coin that has a straight die crack on the obverse, running from the edge of the coin into the portrait.
Correct! In coin collecting term, FIDO = Freaks, Irregulars, Defects, Oddities. An error coin is a coin that was improperly made during its manufacture. Also called mint errors, error coins have problems such as being struck off-center or having the wrong planchet type, or any number of other problems that occur during coin manufacturing. A VAM is a Peace or Morgan Dollar die variety. A spiked head is a coin that has a straight die crack on the obverse, running from the edge of the coin into the portrait.
2. What is the study of coins called? a) Philately b) Numismatics c) Psephology
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Wrong! The correct answer is Numismatics. Numismatics is the scientific study of currency and its history in all its varied forms. Philately is the study of revenue or postage stamps. This includes the design, production and uses of stamps after they are issued by postal authorities. Psephology is the study of political elections.
Correct! Numismatics is the scientific study of currency and its history in all its varied forms. Philately is the study of revenue or postage stamps. This includes the design, production and uses of stamps after they are issued by postal authorities. Psephology is the study of political elections.
3. In which country did the world's first paper money appear? a) China b) The Netherlands c) Canada
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Wrong! The correct answer is China. Jiaozi is a form of banknote which appeared in 10th century Sichuan, China during the rule of the Song Dynasty (960 - 1279 AD). Most numismatists regard it as the first paper money in history. In Europe the first paper money consisted of paper 'coins' issued in Protestant Leyden (today, Leiden) in the Netherlands during the Spanish siege of 1574. Emergency paper money hand-written on playing cards was used in French Canada from 1685.
Correct! Jiaozi is a form of banknote which appeared in 10th century Sichuan, China during the rule of the Song Dynasty (960 - 1279 AD). Most numismatists regard it as the first paper money in history. In Europe the first paper money consisted of paper 'coins' issued in Protestant Leyden (today, Leiden) in the Netherlands during the Spanish siege of 1574. Emergency paper money hand-written on playing cards was used in French Canada from 1685.
4. Which of these currencies signify a weight in grains? a) Euro b) Koku c) Drachma
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Wrong! The correct answer is Drachma. In Ancient Mesopotamia, drafts were issued against stored grain as a unit of account. A 'drachma' was a weight of grain. Japan's feudal system was based on rice per year - koku. Drachma was the national currency of Greece since 1833. After the introduction of the euro banknotes and coins in Greece, drachma is no longer the Greek national currency and ceased to be legal tender on 28 February 2002.
Correct! In Ancient Mesopotamia, drafts were issued against stored grain as a unit of account. A 'drachma' was a weight of grain. Japan's feudal system was based on rice per year - koku. Drachma was the national currency of Greece since 1833. After the introduction of the euro banknotes and coins in Greece, drachma is no longer the Greek national currency and ceased to be legal tender on 28 February 2002.
5. Which is India's oldest mint? a) The Bombay mint b) The Calcutta mint c) The Hyderabd mint
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Wrong! The correct answer is The Calcutta Mint. The first Calcutta Mint was established in 1759-60. In 1790 when modern machineries arrived from England, the second Calcutta Mint was established. On March 1824 the foundation of the third Calcutta Mint was laid. The Mumbai Mint was established in 1829. The Hyderabad Mint was originally started in the year 1903. However, after modernisation, it was re-located to Cheralapalli, near Hyderabad in the year 1997.
Correct! The first Calcutta Mint was established in 1759-60. In 1790 when modern machineries arrived from England, the second Calcutta Mint was established. On March 1824 the foundation of the third Calcutta Mint was laid. The Mumbai Mint was established in 1829. The Hyderabad Mint was originally started in the year 1903. However, after modernisation, it was re-located to Cheralapalli, near Hyderabad in the year 1997.