In a surprising trend that’s catching attention across India, some old and rare coins are reportedly being sold for lakhs of rupees online. One such buzz is around the ₹1 coin, which collectors are allegedly ready to buy for as high as ₹6 lakh — yes, a coin worth just one rupee could make you a lakhpati!
But before you dig into your wallet or piggy bank, let’s understand what’s really happening, what type of coin is in demand, where you can sell it, and what precautions you must take to avoid scams.
Not all ₹1 coins can fetch you lakhs. There are specific features that make a coin valuable for collectors:
The coin should have a clear image of the Ashoka Pillar.
A wheat ear design should also be visible on the reverse side.
The number "1" should be embossed prominently on both sides.
Some rare coins from the year 1985 or earlier or with minting errors are particularly prized in the collectors’ market.
These unique features make such coins highly collectible, and their rarity drives up their market value.
If you think you have one of these rare coins, here’s how to try selling it online:
Register on a Resale Platform:
Visit online classified websites such as Quikr, OLX, or IndiaMart. Create a seller account.
Upload Clear Photos:
Take high-resolution pictures of both sides of the coin. Make sure all features are clearly visible.
Mention Key Details:
Include the year of minting, design description, and any unique features in your post.
Set Your Price and Wait for Buyers:
Set an asking price (e.g., ₹6 lakh) and wait for interested buyers to contact you. Be prepared to negotiate.
Verify Buyer Credentials:
Always ensure that the buyer is genuine. Avoid sharing sensitive personal or banking information without verification.
While these deals may seem tempting, it’s important to be aware of the risks and limitations:
The RBI (Reserve Bank of India) does not authorize any individual or platform to officially sell or buy currency coins for prices above their face value.
These sales are purely collector-driven transactions, and prices can be highly speculative.
Beware of online fraud. Many scammers pose as collectors and may ask for advance payments or personal information.
If a deal sounds too good to be true, it probably is. Always proceed with caution and awareness.
Selling rare currency can be a legitimate way to earn, but it must be done responsibly and legally. If you genuinely own a rare ₹1 coin with the specifications mentioned, you can try your luck online. But always do your own verification, and don’t fall for misleading promises or scams.
