Old Coin Selling Alert – If you also have an old 2-rupee coin from 1994 and you have thought that by selling it you will become the owner of lakhs sitting at home, then just wait. This “earnings news” going viral on social media and some websites is completely fake. The truth is that an attempt is being made to steal your money and information by duping you for lakhs.
What is the real truth?
It has become clear in many news reports and fact-checks that the Rs 2 coin is not a rare treasure. The Rs 2 coin issued by the Government of India in 1994 was minted in crores of rupees. According to experts in numismatics (coin collectors), the real value of such a coin can be only a few hundred rupees at most, certainly not lakhs.
Those who are saying that it is priced at Rs 5 lakh on a site like Quikr should understand that anyone can list anything online at any price they want. Listing does not mean that a buyer is ready to pay that much money.
RBI has given a clear warning
The Reserve Bank of India (RBI) had issued a press release in 2021 itself, warning people against such fake offers. RBI had clearly said that it does not do any work of buying and selling old notes or coins, nor has it authorised anyone for this. If any person or website asks for money or commission in the name of RBI, then it is a complete fraud.
How does this scam work?
In this game, you are first lured into believing that your coin is worth lakhs. When you come forward to sell it, scammers posing as “buyers” tell you that you will have to first deposit some “registration fee”, “processing charge” or “GST” to finalise the deal. Once you send the money, they disappear.
What is even more dangerous is that sometimes scammers may ask for your bank account details, Aadhaar number and even OTP. As soon as they get this information, they can withdraw all the money from your account.
So is a Re 1 coin worth lakhs?
You must have also read that the price of a one-rupee coin of 1918 is Rs 9 lakh. There is no truth in this either. Such coins can be seen selling for $100-200 (about Rs 8,000 to Rs 16,000) on eBay and auction sites. The matter of Rs 9 lakh is just for saying.
real advice
If you have old coins or notes and want to sell them, do not trust any website or “agent” that asks you for money upfront. Remember, a real buyer never asks for money from the seller. If someone is asking you for money in the name of fees, taxes or charges, then understand that he is trying to rob you.