Do 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. Some banks like Wells Fargo will exchange rolled coins for noncustomers without a fee.

How can I sell my old coins?

In India, collectors of old notes and coins can sell their collectable currencies on online classifieds platforms such as Olx, Quikr, and Indian Coin Mill, among others. On such platforms, you will have to create your account by entering details such as name, email ID, and phone number.

Is it legal to sell old coins in India?

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.

Where can we sell old coins in India?

Old coins and notes are now sold/auctioned on multiple online platforms like OLX, Quikr, eBay, IndiaMart, Coinbazaar.in. IndiaMart, Coinbazaar and Quikr are for the Indian market only, while Olx and eBay get international audiences too.

Can I Sell old coins and note to Reserve Bank of India

How can I sell my old 25 paise coins?

If you have this particular 25 paise silver colour coin, you can sell it online for up to Rs 1.50 lakh. If you have any of these coins and want to sell them, you must first register on the Quikr website. If you enjoy collecting antique coins, you can sell your coins on OLX as well.

How can I sell my old coin in RBI?

Depends on how old the coin is, next go to RBI offices who exchange old currency and they will let you know. Best yet, go to an old coin dealer and may get a better price.

Can I sell my coins to the bank?

Do Banks Buy Old Coins? For money, consumers can turn in their coins to a bank so that they can be fully valued. In the United States, banks do not charge a fee to their customers when they deposit coins, but many other countries mandate that coins are rolled in packages.

Which coin has the highest value in India?

One Rupee Jawaharlal Nehru 1989 Coin

This coin was minted in all four Indian mints but the most Expensive coin among them is the Noida Mint coin. If you got a Noida mint coin (with a Small Dot) then you can get a value of ₹1500 to ₹1600 in UNC condition. Fine to Extra fine condition coins have a Value of ₹400 to ₹450.

What is the value of 1 Anna?

An anna (or ānna) was a currency unit formerly used in British India, equal to 1⁄16 of a rupee. It was subdivided into four (old) Paisa or twelve pies (thus there were 192 pies in a rupee). When the rupee was decimalised and subdivided into 100 (new) paise, one anna was therefore equivalent to 6.25 paise.

Do old coins have any value?

An Old 2 Rupee Coin can Fetch you Rs 5 lakh

The 1994-made coin has Indian flag on one side, and its value on the Quikr website is estimated to be of Rs 5 lakh. Whereas, the value of one rupee coin that was minted before independence, and had Queen Victoria's picture imprinted on it, is calculated to be worth Rs 2 lakh.

Where do banks buy coins?

The Reserve banks buy coins at face value from the Mint. They store the coins and use them to fill orders from depository institutions, which supply coins to their customers.

Are banks required to accept coins?

This statute means that all United States money as identified above is a valid and legal offer of payment for debts when tendered to a creditor. There is, however, no Federal statute mandating that a private business, a person, or an organization must accept currency or coins as payment for goods or services.

Which R5 coin is valuable?

Which South African R5 coins are valuable? The 2008 commemorative R5 coins are the most valuable. Bid or Buy listing estimates these South African coins at R150,000. However, the ungraded pieces of metal not in circulation value at about R1,000.

Who can value my coins?

Reputable coin dealers, Coin Auctions, eBay, and Price Guides are great places to start. If your coins are graded by one of the Top Tier grading services like PCGS or NGC, you can usually get a reasonable value estimate sight-unseen!

Can I sell gold to my bank?

Most savings banks have no internal shareholding structure, so the members set some of their own rules on what to buy and sell. However, most American savings banks accept only legal tender (currency). Selling gold to a savings bank is almost impossible.

Which old coins are in demand?

What is the most expensive coin?

1. The 1794 Flowing Hair Silver Dollar. The 1794 Flowing Hair Silver Dollar may sit atop the rankings of the most expensive coin ever sold, at least for now.

Do post office buy old coins?

There is a 'buy back' option with Indian gold coins through MMTC approved stores. MMTC will repurchase the Indian Gold coin which has to be intact in the tamper proof packaging and with the original invoice, at gold base rate which was prevailing. It is to be noted that the post office will not buy it back.

What is the cost of 50 paise coin?

An old 50 paise coin, for example, is currently selling online for up to Rs 1 lakh. An old 50 paise coin is currently selling online for up to Rs 1 lakh. The offer is available on the OLX online classifieds portal. The 2011 50 paise coin has now become a collector's item.