Old Coin Market: Old coins or currency, which you may have been keeping as collectables, could be worth a fortune. There is a market out there that is interested in paying lakhs of rupees for these coins whose legal value could be much much less. If you have been sitting on top of these notes and coins, you would be surprised to know that you can sell them in India online as well. Not sure how, we are here to help. Below is a list of many methods one can use to sell old notes and coins in India online and earn a great deal of money. So without any further ado, let’s dig right into it. old coin selling market
पुराने सिक्के या मुद्रा, जिन्हें आप संग्रहणीय के रूप में रखते रहे होंगे, एक भाग्य के लायक हो सकते हैं। वहाँ एक बाजार है जो इन सिक्कों के लिए लाखों रुपये का भुगतान करने में दिलचस्पी रखता है, जिसका कानूनी मूल्य बहुत कम हो सकता है। अगर आप इन नोटों और सिक्कों के ऊपर बैठे हैं तो आपको जानकर हैरानी होगी कि आप इन्हें भारत में ऑनलाइन भी बेच सकते हैं। सुनिश्चित नहीं है कि कैसे, हम यहां मदद करने के लिए हैं। भारत में पुराने नोटों और सिक्कों को ऑनलाइन बेचने और अच्छी खासी कमाई करने के कई तरीकों की सूची नीचे दी गई है। तो बिना किसी और हलचल के, आइए इसके बारे में ठीक से जानें। market value of old indian coins
How much can you earn by selling old notes and coins in India?
One can certainly fetch a good amount of money by selling old coins and notes in India. 25 paise and 50 paise coins, which have been demonetised, were available to buy for as much as Rs 1.5 lakh in the country last year. There are people who are more than interested in shelling out thousands and lakhs of rupees on such banned currencies for collection purposes. You just need to approach them directly by listing your old coins or notes on certain online platforms.
Which old coins are available for sale in India?
10 paisa coins, released between 1957 to 1963. These were the first coins released in republic India. The old coins were made of copper-nickel metal that weighs about 5 grams and has a diameter of 23 mm. Ashoka pillar was inscribed and India and Bharat were written on one side, while the other side has 10 Naye paise written in Devnagri script with “Rupaye ka dasvan bhag” minted on it. The year of minting is inscribed at the bottom of the coin along with the mintmark. If media reports are anything to go by, these 10 paisa old coins can fetch you around Rs 1000 online.
How to sell old coins in India online
Below are the online platforms where you can list your old coins and notes. By looking at others coin listings, you’ll get an idea about the prices and accordingly set your own depending upon the year mentioned on the coins. The older the coin, the higher it can be sold. The year indicates the minting date of the coins, so suppose a coin that was made back in 1984 holds more sale value than a coin made in 1998.
Coinbazaar is a website dedicated to buying and selling antique items such as medals, ancient currencies and old coins & notes as well. Here’s how to get registered and make a listing for your own coins.
- Head over to the official site here
- Click on “store manager” in the top right corner
- To register, enter your email ID and a password
- Hit “Register”
- Now you can start listing the old coins by uploading pictures, details and price
OLX is a well-known marketplace for buying and selling used and second-hand stuff. Many people are using this platform to sell their old coins as well. Here’s how you can too.
- Head over to OLX
- To register as a seller, click “Sell” on the top right corner
- Enter your mobile number or just go ahead by signing up with your Google account
- Once done, you’ll be registered on the platform
- To list the coins, take clear pictures of the coins and fill in the desired price and additional details
- When someone shows interest, he/she will contact you via OLX itself or through a phone call
Note:- In case you decide to buy from such platforms, always visit and have a look at the item yourself first before making any advanced payments. Especially in this case, where thousands of rupees are at stake.
Just like OLX, Quickr is another platform that involves the exchange of old items and products including old and demonetized coins & notes.
- Head over to Quikr
- On the top right corner, select “Login/Register”
- Enter your phone number, name, email ID and preferred password and hit “continue”
- From here on, you can start listing your coins by uploading high-quality images along with the desired price
- When someone shows interest, he/she will contact you via Quikr itself or through a phone call
Is it legal to sell old coins in India?
There isn’t exactly any confirmation regarding the legality of selling old coins in India but as long as you don’t indulge in any fraudulent activities like charging commissions on behalf of government authorities like the RBI, you should be fine with it. Also, there already are numerous listings for old coins on online platforms.
Is there an offline market to sell old coins in India?
It all depends from region to region. You can always try your luck and find local traders who regularly deal in antique items, including old coins and notes which are no longer in circulation. A simple Google search may do the job.
How to Identify, Price, and Value of Old Coins
Old coins can be hard to identify and put values or prices on if you don’t even know what the old coin is called. Is your old coin made of silver or gold? What country is the old coin from? Are the inscriptions in English or some other foreign language? Does the coin look brand-new, or is it so worn that it is barely identifiable? Is it a real coin or some sort of gaming or trade token?
Questions like these can confuse a person who is unfamiliar with the hobby of numismatics, also known as coin collecting. However, if you take a logical approach to your task at hand, it can be quite enjoyable, and maybe you just might find a rare and valuable coin in your possession.
Old Coins That Can’t Be Identified
Not all of your old coins will be identified using the methods above. In this case, you might have a token, round, or pattern, all of which resemble coins. Try typing the inscriptions you can read into a search engine. As a general rule, if the old coin doesn’t have a country name and denomination (saying how much it’s worth) on it, it’s probably not an official government coin. It can be very hard to learn more about these unofficial coins because very few people collect them, so they’re usually not worth very much (if any) money.
Private mints around the world have also minted tokens and fantasy coins. These are not official coins issued by a government, but they still may have value. During the Civil War, a coin shortage led to the production of many tokens by private mints. This allowed stores to make small changes in business transactions. There are several books written about these tokens and they are highly collectable.
FAQs on Old Coin Market
How do find the value of old coins?
Multiply the weight of the coin by the percentage “fineness” of the coin (the percentage of the coin that is gold or silver). This will establish how much of the precious metal you have to sell. Multiply the result of the first calculation by the current price of the precious metal in the coin.
Which Indian old coin is rare?
A lot of people collect old coins, rupees or even stamps as a hobby. Many even collect it to sell it on the right platform. One such rare coin of Re 1 was sold at an online auction for a whopping Rs 10 crore. This rare coin fetched such a massive amount because it was issued in 1885 during the British Raj in India
Which is the biggest coin in India?
The Indian 10-rupee coin (₹10) is a denomination of the Indian rupee. The ₹10 coin is the second highest-denomination coin minted in India since its introduction in 2005.
Does RBI buy old coins?
Cautioning the general public “not to fall prey to fictitious offers of buying/ selling of old banknotes and coins,” the RBI said the central bank does not deal in such matters, and “never seeks charges/ commissions of any sort.”
Do banks buy old coins?
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. So some banks like Wells Fargo will exchange rolled coins for noncustomers without a fee. how to sell old coins in the international market