Ceylon Sri Lanka 5 Rupees 1957

Called Sri Lanka today, when the British ruled the large island at the southern tip of Indian subcontinent it was called Ceylon. This 5 rupee silver coin was issued under Queen Elizabeth II in 1957, while Ceylon was a British Commonwealth nation, on its way to the new Sri Lanka identity in 1972. The coin commemorates 2500 years of Buddhism, with prominent floral and zoological symbols.

According to the Standard Catalog of World Coins, 500,000 of these 5 rupee coins were minted originally, but 258,000 of them were returned to the mint for melting in 1962. The relatively few coins available today push the price slightly above base silver value for uncirculated pieces.

To find the current value of your 5 rupee coin, first find the base silver value. There are 0.841 troy ounces of silver in the coin, so multiply the current price of silver by 0.841 to compute the base value. If the price of silver is, say, $30 US dollars per troy ounce (look it up at kitco.com, it changes every day), the BV is 0.841 x 30 = $25. Then the catalog value of the coin is:

worn: BV + $0 US dollars catalog value
average circulated: BV + $4
well preserved: BV + $8
fully uncirculated: BV + $20

Consult the Terminology page to convert catalog value to actual buy and sell value.
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