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From the Desk of the Editor

Dear Sir,

I am delighted in placing Gullak (the Complete Monthly Newspaper for Coins, Paper Money, Antiques and Collectibles) in your hands.

Gullak is a Hindi derivative of English Good Luck. The word Good Luck refers to an Indian custom where guest of a house gives a small change in the hands of host’s kids. This small change is usually placed by the kids in a Piggy Bank as savings. Consequently, the word Gullak became a synonym for Piggy Bank. Whatever, be the origin of the word Gullak, now collectors have found a novel way of collecting these Piggy Banks themselves as interesting objects of collection.

Keeping in mind this inherent nature of saving tit-bits in a place, we have christened this newspaper Gullak, as it is going to be a depository of numismatic information. Gullak is a platform where every numismatist is bound to find things of his interest, be it a collector, a dealer, a scholar or an investor. The whole idea of Gullak is to present a family newspaper that covers the whole of numismatic industry. You will find here scholarly articles; popular notes & information; new discoveries; profiles of numismatists; news pertaining to recent developments & new issues from Indian mints; fakes; reports of recent coin fairs; and of course, advertisements.


Although there is a subscription for hard copies of Gullak, which shall cover its production cost; the soft copy of Gullak is uploaded on the Internet and one can read it there or download and print it at home for absolutely free at www.gullak.in.

Gullak is brought to you by Reesha Books International, India’s only publisher of numismatic books. Gullak is supported by over a dozen of correspondents who hail from different areas of numismatic fraternity. We as a Gullak Team look forward to your suggestions, additions, opinions and of course your critical evaluations. You can write to us at our Editorial Office or E-mail on info@reeshabooks.com . We will be pleased to publish them in forthcoming issues.


Looking forward to interacting with you every month, I remain.


Yours sincerely,


Dilip Rajgor
Editor

 

What is Gullak?
Piggy Bank (sometimes Penny Bank or Money Box in English and Gullak in Hindi) is the traditional name of a coin accumulation and storage receptacle; it is most often, but not exclusively, used by children. The Piggy Bank is known to collectors as a “still bank" as opposed to the "mechanical banks" popular in the early 20thcentury. These items are also often used by corporations for promotional purposes.

Piggy Banks are typically made of ceramic or porcelain, and serve as a pedagogical device to teach the rudiments of thrift and savings to children; money can be easily inserted, but in the traditional type of bank the pig must be broken open for it to be retrieved. Most modern Piggy Banks, however, have a rubber plug located on the underside; others are made of vinyl and have a removable nose for easy coin access. Some Piggy Banks incorporate electronic systems which calculate the amount of money deposited.

The etymology of the noun Piggy Bank is also interesting: In Middle English, pygg referred to a type of clay used for making various household objects such as jars. People often saved money in kitchen pots and jars made of pygg, called pygg jars. By the 18thcentury, the spelling of pygg had changed and the term pygg jar had evolved to Pig Bank. Once the meaning had transferred from the substance to the shape, Piggy Banks began to be made from other substances, including glass, plaster and plastic.

An alternative theory of the etymology of the Piggy Bank is that in ancient times, scraps of food, and food that would otherwise spoil, could be "saved" and/or "invested" (and to an extent "recycled") by being fed to the domestic pig and in doing so fattening the pig for subsequent eating or sale. As pigs eat such a variety of foods in so many conditions, the strategy paid off for peoples in all continents and the strategy was passed on from generation to generation. Then when money was introduced into society, the already firmly established cultural habit of saving food scraps by depositing them in the pig was then supplemented, and in more developed/urban societies was supplanted, by the saving of scraps of money rather than food in the Piggy Bank.

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