Indian artifact found on Jersey Beach!

[Foilman]

I was detecting a local beach the other day and found this. It says India on one side and 1 rupee 2002 on the other. Anybody no what it would exchange for?

 

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[PBK]

I was detecting a local beach the other day and found this. It says India on one side and 1 rupee 2002 on the other. Anybody no what it would exchange for?

A little over 2¢. One U.S. dollar = 46 Indian rupees.

 

[Foilman]

Thanks PBK,
That is worse than I thought. Guess what. I just put a magnet to it and it stuck. I wonder what it is.Definitely has ferrous metal in it. I didn't think coin making stooped that low. I thought the new zincs were bad! I bet the criminally minded have a field day with this!

I like this hobby! I learn something new all the time!

 

[PBK]

I just put a magnet to it and it stuck. I wonder what it is. Definitely has ferrous metal in it.

It's a ferritic stainless steel alloy which is, as you say, magnetic— as opposed to the familiar austenitic stainless steel alloys which have a higher chromium and nickel content that makes them nonmagnetic.