Old currency note and coin collectors, rejoice! For the old currency note and coin collectors, there has been an upsurge in the market, which has led to a hike in the price. In online auctions, rare finds are selling at lakhs of rupees.
Coin Bazaar has been leading the trend with its sales. Collectors are making handsome rewards in selling vintage notes and coins, including uncommon Rs. 1 and Rs. 2 coin values with such prices, collectors can earn handsomely.
For example, one of the rarest 1935 Rs. 1 note issued by British India with the signature of the Governor JW Kelly can be sold at a handsome amount as a collector’s item. This is because the note is more than 87 years old and hence can be sold for up to Rs. 7 lakh purely based on its scarcity and historical value. The 1935 issues are ones carrying the portrait of King George V and bearing a green-blue design which commands the maximum among collectors. The Rs. 1 note has been designed and redesigned several times. It was discontinued not once but twice, but remains to be put into circulation up till now.
What exactly makes the Rs. 1 note so unique is the changing designs and its history of abolition. Its limited time in circulation made it highly prized by coin collectors and history enthusiasts. The Government of India stopped printing 29 years ago which has rendered the pre-2015 version more uncommon. Though brought back again in 2015, some pre-Independence and vintage issues are very precious for collectors who even pay a lot of money to be able to own them.
For the collector who wants to sell his treasures, sites like Coin Bazaar and Quikr provide easy channels for auctioning and selling. At the same time, it would be prudent to state that the RBI does not officially endorse purchases or sales of old currency notes and coins. Although this statement comes as somewhat of a contradiction to the fact that such items have a ready market for rare and ancient coins.
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