Today is proving to be a highly profitable time for lovers and collectors of old and vintage currency. There has been an unprecedented surge in demand for old notes and coins. People are bidding lakhs of rupees on online platforms, especially for ₹1 or ₹2 notes and coins from the British era. Currently, a ₹1 note is selling online for anywhere from ₹200 to ₹7 lakh. The price of your note depends primarily on its age and uniqueness.
Online platforms like Coin Bazaar are offering collectors the opportunity to sell their old notes and coins at high prices. According to reports, a particular old ₹1 note can fetch up to ₹7 lakh in an online auction
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Why does a particular ₹1 note sell for lakhs
Many people wonder why a mere ₹1 note sells for such a high price. The reason is its historical significance and rarity. The Indian government stopped printing ₹1 notes nearly 29 years ago. Although they were reintroduced in 2015 during the Narendra Modi government, certain pre-Independence notes remain in high demand among collectors. These notes fetch extraordinary prices at auction.
The special note that sold for up to ₹7 lakh: A rare ₹1 note issued by British India in 1935. It bears the signature of then-Governor J.W. Kelly. This nearly 80-year-old note fetched a whopping ₹7 lakh at auction due to its rarity and historical significance.
How to Participate in Online Sell
If you have old notes and coins and want to sell them, you can participate in auctions on online platforms like Coin Bazaar and Quikr. On these sites, you must register as a seller, upload a clear photo of your note or coin, and set a desired price. Interested buyers will contact you directly.
One important thing to keep in mind
The Reserve Bank of India (RBI) does not officially permit the buying and selling of old notes and coins. These transactions are based solely on personal agreements between buyers and sellers. Therefore, it is essential to exercise utmost vigilance to avoid any kind of fraud.