Old coins: How to sell old notes and coins in India online
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.
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 inscribed and India and Bharat 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” on 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.in
- 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.com
- 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.
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