Old 1 Rupee Note: In India, people’s interest in old banknotes and coins is rapidly increasing these days. There is a tremendous enthusiasm among collectors, especially for currency from the British era. This is why even seemingly ordinary notes like the one-rupee and two-rupee notes have reached values of lakhs of rupees.
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A One-Rupee Note and a Price Tag of Lakhs
On online platforms, an old one-rupee note is being sold for anywhere from Rs 200 to Rs 7 lakhs. Its price depends on the year the note was issued, the signature of the official on it, and its condition. The older and rarer the note, the higher its value is considered to be.
Why are British India Notes Special?
Notes issued during British rule are considered to have the greatest historical significance. Not only are these notes limited in number, but they also offer a glimpse into India’s economic history. This is why collectors are willing to pay large sums for such notes.
A Rare 1935 One-Rupee Note
It is said that a British India one-rupee note issued in 1935, bearing the signature of the then Governor J.W. Kelly, can fetch a price of up to Rs 7 lakhs at auction. The demand for this nearly eight-decade-old note is being seen at an international level.
Where are Old Notes Being Sold?
People are listing their old notes and coins for auction on online platforms like Coin Bazaar and Quikr. Here, buyers and sellers come into direct contact, and the price is determined. However, there is no guarantee of the price, and it depends entirely on the collector’s interest.
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Understanding the Legal Aspects is Important
Although the value of old notes is being quoted in lakhs, it is important to know that the Reserve Bank of India does not officially recognize the buying and selling of old notes and coins. Therefore, caution is necessary before any transaction.