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Is selling old coins online is legal
28-Sep-2023 (In Civil Law)
Is selling old coins such as 10 paisa, 50 paisa, 20 paisa from the 1980's and 1990's legal?? I'm trying to sell it on olx. One 10 paisa coin from the 80's for about Rs. 3000. I want to make sure that it is in my right to sell it and that it's not illegal.
Is selling old coins such as 10 paisa, 50 paisa, 20 paisa from the 1980's and 1990's legal?? I'm trying to sell it on olx. One 10 paisa coin from the 80's for about Rs. 3000. I want to make sure that it is in my right to sell it and that it's not illegal.
So long as it is not barred by any law you can do it Better consult the concerned officer in RBI
So long as it is not barred by any law you can do it Better consult the concerned officer in RBI
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Adv. Prof V Narayana Swamy
Bangalore | 200+ Answers
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Hi, It is indeed legal to sell old coins and currency notes in India except for the specified bank notes of Rs 500 and Rs 1000 denomination that were made illegal on Nov 8, 2016. All coins and notes that are more than 100 years old cannot be sold to/taken out of India. However, you can trade them within India.
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Adv. Rajesh Kumar K
Bangalore | 400+ Answers
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Is it legal in India to sell old coins? It's not clear whether it's legal to sell old coins in India, but so long as you're not engaging in fraudulent activities such as charging government authorities for commissions like the RBI, then you should be fine.
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Adv. Chikirsha Mohanty
Delhi | 200+ AnswersCONTACT NOW
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