Old Coin Buyer Contact Number Patna, How to sell Old coins on Internet, RBI, FAQs

Old Coin Buyer Contact Number Patna: In India, we have ‘The Antiquities and Art Treasures Act, 1972 which is applicable to the entire nation. This antiquity includes any coin which has been in existence for not less than one hundred years. Under this, if one intends to sell any article that comes under the preview of this act, then he/she needs to apply for a licence to do so. At times, based on the value (not monetary) of the particular antique item, the Government may decide to acquire it, register it and conserve it.
So if you are not a numismatic expert, please meet the experts of such numismatic societies that are active in major cities. Here you would get an idea of how valuable your article is and also how to go about selling it to other countries without unknowingly breaking the law.

In Hindi:

भारत में, हमारे पास ‘प्राचीन वस्तुएं और कला खजाने अधिनियम, 1972’ है जो पूरे देश में लागू है। इस पुरातनता में कोई भी सिक्का शामिल है जो कम से कम सौ वर्षों से अस्तित्व में है। इसके तहत, यदि कोई इस अधिनियम के तहत आने वाली किसी भी वस्तु को बेचने का इरादा रखता है, तो उसे ऐसा करने के लिए लाइसेंस के लिए आवेदन करना होगा। कभी-कभी, विशेष प्राचीन वस्तु के मूल्य (मौद्रिक नहीं) के आधार पर, सरकार इसे प्राप्त करने, इसे पंजीकृत करने और इसे संरक्षित करने का निर्णय ले सकती है।
इसलिए यदि आप मुद्राशास्त्र विशेषज्ञ नहीं हैं, तो कृपया ऐसे मुद्राशास्त्रीय समाजों के विशेषज्ञों से मिलें जो प्रमुख शहरों में सक्रिय हैं। यहां आपको इस बात का अंदाजा होगा कि आपका लेख कितना मूल्यवान है और यह भी कि अनजाने में कानून को तोड़े बिना इसे दूसरे देशों में कैसे बेचा जाए।

Sell Your Collection of Old Coins to Trusted Old Coin Buyers in Patna

Old coins are valuable not only because they are rare items, but also because they are worth a good deal of money when sold. So if you have such antique coins, you can sell them to old coin buyers in Patna. These coin buyers seek these valuable items either to add to their own collection or to sell them to other collectors. So you can look for old coin buyers online to know more about coin dealers near you.

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Things to Remember Before Selling Old Coins

Here’s what you should keep in mind before selling your antique coins to old coin buyers Patna:

• The melt value of the coin – Most coin dealers buy old coins for their melt value, so you should check the same.
• Mintage – Mintage refers to the maximum number of coins produced by the mint and the lower the mintage, the higher will be the selling price.
• Metal composition – The number of precious metals present in the coins decides the market value of the old coin.
• The rarity of the coin – The rarer your coin, the more value it holds.

What is the Selling Price of Old Coins?

As stated earlier, the selling price of antique coins depends on various factors like the coins’ market value, demand, grade, metal composition, etc. So the selling price can start at Rs. 500 and go all the way up to Rs. 50,000 and above.

Please Note: The prices mentioned above are indicative.

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Steps to Search for the Best Old Coin Buyers on the Internet

If you’re looking for verified old coin buyers, the Internet can help simplify the search for you. All that you have to do is:

• Head to the search box and enter ‘old coin buyers’ to get a list of the Patna old coin buyers.
• Sort the results by ‘Popularity’ or ‘Ratings’ to pick the best old coin buyers in your locality.
• To know more, send in your enquiry via email or you can talk to the buyer directly.

Reserve Bank of India: Coin

The Government of India has the sole right to mint coins. The responsibility for coinage vests with the Government of India in terms of the Coinage Act; 2011 as amended from time to time. The designing and minting of coins in various denominations is also the responsibility of the Government of India. Coins are minted at the four India Government Mints in Mumbai, Alipore (Kolkata), Saifabad (Hyderabad), Cherlapally (Hyderabad) and NOIDA (UP).
The coins are issued for circulation only through the Reserve Bank in terms of the RBI Act.

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Denominations

Coins in India are presently being issued in denominations of 50 paise; one rupee, two rupees, five rupees, ten rupees and twenty rupees. And coins up to 50 paise are called ‘small coins’ and coins of Rupee one and above are called ‘Rupee Coins’. Hence coins can be issued up to the denomination of Rs.1000 as per the Coinage Act, 2011.

Distribution

Coins are received from the Mints and issued into circulation; through its Regional Issue offices/sub-offices of the Reserve Bank and a wide network of currency chests and coin depots maintained by; banks and Government treasuries spread across the country. So the RBI Issue Offices/sub-offices are located in; Ahmedabad, Bangalore, Belapur (Navi Mumbai), Bhopal, Bhubaneshwar, Chandigarh, Chennai, Guwahati, Hyderabad, Jammu, Jaipur, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna and Thiruvananthapuram.

These offices issue coins to the public directly through their; counters and also send coin remittances to the currency chests and small coin depots. So there are 4422 currency chest branches and 3784 small coin depots spread throughout the country. Therefore currency chests and small coin depots distribute coins to the public; customers and other bank branches in their area of operation. So the members of the public can approach the RBI offices or the above agencies for the requirement of coins.

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Measures to improve the supply of coins

• The various Mints in the country have been modernised and upgraded to enhance their production capacities.
• Government has in the recent past, imported coins to augment indigenous production.
• Notes in the denomination of Rs.5 have been reintroduced to supplement the supply of coins.

New initiatives for distribution

Coin Dispensing Machines have been installed at select Regional Offices of the Reserve Bank on a pilot basis.
Dedicated Single-window counters have been opened in several of the Reserve Bank’s offices for issuing coins of different denominations packed in pouches.
Mobile counters are being organised by the Reserve Bank in commercial and other important areas of the town where soiled notes can be exchanged for coins.

Appeal to the Public

The Bank, with active co-operation from various agencies, has been endeavouring to distribute the coins in an equitable manner to all parts of the country. So the mission cannot be successful without unstinting support from the people at large and the various voluntary agencies. Members of the public are requested to avoid holding on to coins and instead, use them freely for transactions to ensure that there is a smooth circulation of coins. So voluntary agencies are requested to educate the public about the various facilities available in their areas for the distribution of coins, exchange of soiled notes and proper handling of notes.

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FAQs on Old Coin Buyer Contact Number in Patna

How can I know the market value of my old coins?

You can check with old coin buyers nearby and get information on the current; market value of old coins and understand how it’s decided.

Do old coin buyers pay only in cash?

Most old coin buyers in Patna give you cash in return for the coins. However, if you prefer online transactions, you can check with the buyer if they can make an online payment.

Is there a limit on the number of coins that can be sold to old coin buyers near me?

Generally, there is no limit on selling old coins. However, you can confirm this with your nearest buyer.

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Do old coin buyers in Patna deduct any charges from the total selling price?

Depending on the coin buyer’s policies and the condition of the coin; there may be a few deductions made from the total selling price.

How do I know if the coin buyer near me is a verified coin dealer?

You can browse through Justdial’s search results for ‘old coin buyers’ to find verified buyers and dealers near you.