New Delhi: Coin collectors and enthusiasts have seen an unprecedented amount of money in the recent times for putting up rare coins and notes on auction.
This 1 rupee coin mentioned above was auctioned for a whopping Rs 10 crore a couple of months back. Yes you heard it right. The one rupee coin was actually sold for crores, however, you must note that this is no ordinary coin. This is a special coin of the British rule in India. The coin was made in the year 1885. If you have such a coin of 1 rupee, bearing a 1885 printed year, then you can put it for online auction.
How to sell old notes and coins on platforms such as Quickr or Olx
Take a clear picture of the currency you want to sell.
Upload on eBay or OLX.
The company will feature your advertisement.
Interested people, who want to buy old notes and coins will contact you upon the releasing of the advertisement.
You can negotiate and fix your deal.
RBI caution on selling of old notes and coins
Meanwhile, in August 2021, the Reserve Bank of India issued caution message regarding the online selling and buying of old notes and coins.
"It has come to the notice of Reserve Bank of India that certain elements are fraudulently using the name/ logo of Reserve Bank of India, and seeking charges/ commission/ tax from public, in transactions related to buying and selling of old banknotes and coins through various online/ offline platforms," an RBI statement said.
The Reserve Bank of India has further clarified that it does not deal in such matters and never seeks charges/ commissions of any sort. The RBI has also not authorised any institution/ firm/ person etc. to collect charges/ commission on its behalf in such transactions, said the Central Bank.
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