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  • Category: Miscellaneous

    Can one sell old Indian currency through e-commerce sites in India?


    Have a query about selling old Indian currency online? Find solution to your query on this page.

    I have some old currency dating back to pre-independence era. I want to sell it on premium to the collectors of old currency. Is there any law in India which prevents a common man to sell old Indian currency through e-commerce sites in India? Experts do give your opinion and also provide some official references regarding the same.
  • #139797
    The old currency notes or coins can't be sold through e-commerce sites, because the the profile of the buyers of such notes and coins is totally different. I would advise you to contact old curio shops or auction houses of the city where you live. The auction houses or old curio shops would be interested in buying such old currency notes and coins.
    Caution: Explosive. Handle with care.

  • #139849
    Yes, you can sell old currency notes through e-commerce sites. As suggested by Partha, auction houses are best option to sell anything especially which belongs to pre independence era.
    But, auction houses are very rare in most of the locations in our country and they will charge a considerable amount for their profit as well.
    The internet age is changing everything from the way we used to live. Old currency notes collectors are now busy in bidding on online sites for rare currency notes.
    Below are some of the sites to sell your currency notes.
    1. OLX - olx is the main website to buy and sell used items. So why not currencies? You can sell your old currency notes through olx. You can easily reach out to your buyer who ready to pay even in lacs.
    2. EBay.in - eBay has an option which will let their users to sell anything. You can use this option to sell old currency notes.
    3. Forsale.in - it is another site similar to olx where you can sell your old currency notes.

    Whatever happens life should move on...
    Thanks Karthik

  • #139850
    My basic question - is it lawful to sell old currency through e-commerce portals in India? Or, is there any law in India preventing a person to sell old currency through e-commerce portals?

    Please post your answers to that query only.

    When you talk, you are only repeating what you already know. But if you listen, you may learn something new!

  • #140161
    Yes it is unlawful to sell currencies and coins which is in practice.The antique coins and currencies which are not in practice are considered as goods, can be sold on E-Commerce. Only Reserve Bank of India can sell commemorative coins on special occasions. Few examples of special occasions are 150th birth anniversary of Swamy Vivekanand, Silver Jubilee celebrations by Vaishno Devi Shrine Board etc. On the special occasions Reserve Bank of India sell the commemorative coins at higher prices.
    Currencies and coins which have been abolished by Reserve Bank of India and no longer in use can be sold or auctioned on E Commerce. Old coins and currencies which have been demonetized by Reserve Bank of India, become goods and sale of goods are governed by the Act 1930, section 2 and clause 7. This clause says money is not goods which is in practice and governed by RBI.


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