{
  "source": "The Currency Bazaar — completed sales from independent Indian coin shops",
  "as_of": "2026-09-20",
  "median_effect_multiple": 1.71,
  "denominations_where_fancy_sold_for_less": 2,
  "sales_compared": 3365,
  "caveat": "Median of medians within a denomination, not a matched-pair experiment. An effect below 1 means the fancy premium is smaller than the variation between notes in that denomination, not that a fancy serial is a penalty.",
  "rows": [
    {
      "denomination": "₹10 note",
      "plain_median_inr": 375,
      "fancy_median_inr": 200,
      "effect_multiple": 0.53,
      "recorded_sales": 613
    },
    {
      "denomination": "₹500 note",
      "plain_median_inr": 663,
      "fancy_median_inr": 1000,
      "effect_multiple": 1.51,
      "recorded_sales": 518
    },
    {
      "denomination": "₹100 note",
      "plain_median_inr": 500,
      "fancy_median_inr": 532,
      "effect_multiple": 1.06,
      "recorded_sales": 475
    },
    {
      "denomination": "₹2 note",
      "plain_median_inr": 290,
      "fancy_median_inr": 713,
      "effect_multiple": 2.46,
      "recorded_sales": 392
    },
    {
      "denomination": "₹5 note",
      "plain_median_inr": 625,
      "fancy_median_inr": 3690,
      "effect_multiple": 5.9,
      "recorded_sales": 352
    },
    {
      "denomination": "₹1 note",
      "plain_median_inr": 179,
      "fancy_median_inr": 1225,
      "effect_multiple": 6.84,
      "recorded_sales": 343
    },
    {
      "denomination": "₹20 note",
      "plain_median_inr": 513,
      "fancy_median_inr": 188,
      "effect_multiple": 0.37,
      "recorded_sales": 257
    },
    {
      "denomination": "₹1,000 note",
      "plain_median_inr": 461,
      "fancy_median_inr": 1225,
      "effect_multiple": 2.66,
      "recorded_sales": 230
    },
    {
      "denomination": "₹50 note",
      "plain_median_inr": 359,
      "fancy_median_inr": 615,
      "effect_multiple": 1.71,
      "recorded_sales": 185
    }
  ]
}