Do we require any documentation to sell an old coin around 100 yr old

754 votes

it is not illegal to sell coins at your desired price as per IndianCoinage Act, for 1 rupee and above one can sell it at any price, for others there is a restriction, unless one is hoarding lakhs of coins and inflating prices, The following are the words from The Indian Coinage Act:


Coin, when a legal tender:
13. (1) The coins issued under the authority of section 6 shall be a legal tender in
payment or on account,-
(a) [in the case of a coin of any denomination not lower than one rupee],
for any sum;
(b) in the case of a half-rupee coin, for any sum not exceeding ten rupees;
( c) in the case of any other coin, for any sum not exceeding one rupee:
Provided that the coin has not been defaced and has not lost weight so as to be less
than such weight as may be prescribed in its case.

28 of 1947:
(2) All silver coins issued under this Act after the 10th day of March, 1940 [and
before the commencement of the Indian Coinage (Amendment ) Act, 1947] shall
continue as before to be a legal tender in payment or on account,-
(a) in the case of a rupee coin, for any sum;
(b) in the case of a half-rupee coin, for any sum not exceeding ten rupees;
(c ) in the case of a quarter –rupee, for any sum not exceeding one rupee

Advocate Siddhant Sharma LawRato