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Only a small percentage of people in the world are collectors, so collect with pride and stay responsible.
I recently began collecting old bank notes as an hobby and I came through this website. I'm not sure whether it's legal in India to sell old coins or bank notes!
Yes, selling banknotes and coins is legal in India, provided they are not currently in circulation as legal tender or counterfeit. Collectors often buy and sell old, rare, or commemorative banknotes and coins for numismatic purposes. However, it's important to ensure that the items being sold are authentic and not involved in any illegal activities, such as the sale of counterfeit or demonetized currency.
For instance, you can legally trade in old and rare coins, commemorative issues, and demonetized banknotes, but you cannot sell current legal tender for a higher price than its face value unless it has numismatic value. Always comply with local laws and regulations when dealing with currency and coins.
A significant case related to the legality of selling old coins and banknotes in India is the Madhya Pradesh High Court case W. P. No.4682/2015
As digital transactions rise, physical banknotes and coins are becoming historical treasures. By collecting them, you help preserve a piece of our history. At Dazzle Monk, we offer a carefully curated Numismatic, Notaphily collection of authentic and rare items. Start your journey with us today.
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