Frequent question: Is it legal to sell old Indian coins?

Yes you can sell old coins and notes in India and you can do so even online websites like eBay etc. However they can be sold like goods and to people like coin collectors and won’t be a legal tender for exchange.

Is it illegal to sell old Indian coins?

As per the Antiquities and Art Treasures Act, 1972, any manuscript, coin, sculpture, painting etc which dates back to 100 years and above is an antique. … Although this act do not talks about selling or imitation of antique but in general it is not allowed as per criminal laws of India.

What is the procedure to sell old coins in India?

Step 1: Visit the official website indiamart.com which facilitates buyers and sellers to trade directly. Step 3: Click a picture of your coin, and put it for sale on the website. Step 4: Talk to interested buyers who will contact you. If you have a rare coin, then you have the chance to earn a good amount of money.

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Selling a currency violates Sections 22, 23, 24 and 26 of the Reserve Bank of India Act, 1934. … “These currencies are of numismatic value and trading them is neither legal nor illegal because the RBI has no clear guidelines or law in place on the issue,” a senior RBI official told this paper.

Can I sell my old coins to the bank?

Consumers can turn in their coins for cash at banks, which will give them their full value. Banks do not charge a fee to their customers when they deposit coins, but many require that the coins be rolled in wrappers. Some banks like Wells Fargo will exchange rolled coins for noncustomers without a fee.

How do I sell old note coins?

Step 1: Open the homepage of websites where you want to sell your old note. You can visit Ebay, Click India etc. Step 2: For selling the note online in an auction, you have to click the photo of the currency note having 12345 or 123456 digits on it. Step 3: Register yourself as a seller on the bidding website.

Which Indian old coins are worth money?

Indian Old Coins

  • 1841 British East India Company 2 Annas Silver (M-132) …
  • 10 Paise | 1968 | KM# 26.2 | Coins. …
  • 3 Paise | 1971 | KM# 14.2 | Coins. …
  • 10 Paise | 1981 | KM 36 | Coins. …
  • 2 Rupees | 2003 | KM 307 | Coins. …
  • 1833 British India quarter Anna Old coin. …
  • 50 Paise | 1985 | KM 67.1 | Coins. …
  • 10 Rupees | 1970 | KM 186 | Coins.

Where can I sell my old coins for the best price?

Best places to sell coins online

  • CoinsForSale.com Only 5% to sell. No listing fee.
  • Heritage Auctions 10% fee. Consignment program.
  • Ebay 10% fee plus listing fees. Wide audience.
  • Apmex Well known. But won’t pay until after you’ve shipped your coins.
  • Modern Coin Mart Won’t pay you until after you’ve sent them your coins.
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What is the price of 10 paise coin?

coin is a former denomination of the Indian rupee. The 10 Paise coin equals 1⁄10 of a rupee.

How do I sell old rare coins?

Step 1: Visit the official website Olx.com which allows the buyers and sellers to trade directly. Step 2: Register yourself as a seller on the website. Step 3: Click and upload a photo of the coin on the website. Step 4: Buyers who are interested will contact you.

Can I sell currency on OLX?

Human, Blood, Bodily Fluids, Human Parts, and Remains. Illegal Goods/Embargoed Goods/Contraband goods. Indian currency notes – Old, New, or Error notes. Coins considered legal tender.

How can I sell my 5 rupee coin?

Now if you want to sell these coins on e-commerce websites such as Indiamart, then first you’ll have to register as an online seller on the site. Then, click a photo of the coin, both front and back, and upload it on the site. The photo must be clear, preferably with a white background, mentions Indiamart.

What coins are worth a lot of money?

8 Valuable Coins in Circulation Today

  • 1943 Lincoln Head Copper Penny. …
  • 1955 Doubled Die Penny. …
  • 1969-S Lincoln Cent with Doubled Die Obverse. …
  • 1982 No Mint Mark Roosevelt Dime. …
  • 1999-P Connecticut Broadstruck Quarter. …
  • 2004 Wisconsin State Quarter With Extra Leaf. …
  • 2005-P “In God We Rust” Kansas State Quarter.

Where can I turn my coins into cash?

Chains

  • Local bank or credit union. Your local bank or credit union branch may let you exchange coins for cash via coin-counting machines, letting you to roll your own coins, or take coins in another way. …
  • QuikTrip. …
  • Safeway. …
  • Walmart. …
  • Target. …
  • Lowe’s. …
  • Home Depot. …
  • CVS.
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