100 Rupee Hajj Note: A unique chapter in the history of Indian currency unfolded at a recent international auction in London. A rare 100-rupee note from the 1950s was sold for approximately 56 lakh rupees. The note bears the serial number HA 078400, which distinguishes it from regular Indian currency. Its limited circulation and historical significance are considered the reasons for its high price.
What are Hajj Notes, and why were they issued?
Hajj notes were issued by the Reserve Bank of India for a specific purpose. At that time, a large number of Muslim pilgrims from India traveled to the Gulf countries for the Hajj pilgrimage. The purchase of gold during the journey was common, leading to an increase in the illegal export of gold from the country. To curb this problem, the RBI issued these notes, which were only recognized in select Gulf countries. They could not be used in India.
Identification and Features of Hajj Notes
The most distinctive feature of these notes is the HA prefix in their serial numbers. In addition, their color and design were different from regular Indian notes. These notes were only accepted in countries like the UAE, Qatar, Bahrain, Kuwait, and Oman. Due to their limited use and small number of issues, these notes are considered extremely rare today.
Why did the circulation of Hajj Notes stop?
In 1961, Kuwait introduced its own independent currency, and gradually, other Gulf countries also adopted their own currencies. This rendered the Hajj notes obsolete. By the 1970s, their production had completely stopped. This is why finding them in the market today is almost impossible.
Notes associated with SS Shirala have also gained recognition
It’s not just Hajj notes; other Indian notes with historical significance are also fetching high prices at auctions. In May 2024, two old 10-rupee notes were sold for millions of rupees in London. These banknotes were issued in 1918 during World War I and were associated with the British ship SS Shirala, which was sunk by a German submarine attack. The historical significance of the notes linked to this ship makes them particularly special.
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Why are old banknotes increasing in value?
Today, currency collectors value not only the monetary value of a banknote but also the story behind it. Rarity, condition, and historical background play a major role in determining the value of any banknote. This is why Haj notes that wartime banknotes are likely to remain important investments in the future.