Note Sell: Have you ever thought that the old coins and notes lying in your house can make you a lakhpati or crorepati? Nowadays, there are many such news circulating on the internet that some special old notes and coins are being sold for lakhs and crores. But how much truth is there in these things, let’s know.
Old ₹5 note and ₹25 coin: What is the reality?
You must have heard that old ₹5 notes (especially tractor notes) and 25 paise coins (with rhino or Mata Vaishno Devi imprint) can be sold for lakhs and crores. At many places, it is also being claimed that a ₹5 note can fetch ₹3 lakh to ₹5 lakh and a 25 paise coin can fetch up to ₹1 crore!
But, these claims are often exaggerated. It is true that some rare and very old coins or notes, which have special importance for history or collectors, can be sold at a good price. But it is not right to think that every old note or coin will make you a millionaire.
The Reserve Bank of India (RBI) has also issued warnings from time to time that they are not involved in the buying and selling of such coins or notes and beware of such claims.
How are old notes and coins auctioned?
If you really have a rare coin or note and you want to sell it, there are some online portals and websites where these are auctioned. You can register on these and upload good pictures of your coin or note. If a buyer is interested in your coin or note, they can contact you.
But, be careful! There is also a lot of possibility of fraud in such cases. Before giving your personal information or bank details on any website, do a thorough investigation. There have been many cases where people are duped and swindled of money on the pretext of registration fees or any other reason.
How to differentiate between real and fake?
Greed of extremely high prices: If someone is offering you lakhs or crores of rupees for your ordinary looking coin or note, then be careful.
Demand for advance fee: No genuine buyer will ask you for advance money in the name of registration, commission or any other name before buying a coin or note.
Check the official website: The Reserve Bank of India (RBI) or any institution of the Government of India does not buy and sell such coins.
If you have an old and unique coin or note, then you can consult a coin and note expert (Numismatist). They can tell you about its correct price and the right way to sell it.
So, the next time you hear such claims, act wisely. It is good to dream of selling your old coins and notes, but avoid getting caught in any trap without knowing the reality.