THIS old Rs 5 coin can fetch you Rs 5 lakh, here's how

New Delhi: What may a Rs 5 coin be used for? Maybe a couple of candies or a little packet of cookies? However, if you have this unique coin, you can sell it for Rs 5 lakh on the internet. For many people, coin collecting is a hobby, and it appears that this interest has just become a ticket to huge money. Buyers are willing to pay lakhs for limited-edition unique coins, according to online marketplaces such as OLX and Quikr. A Rs 5 coin was recently listed for Rs 5 lakh on Quikr, which is an example of such a posting.

This isn't your typical coin, though. This uncommon coin was one of many commemorating the Food and Agriculture Organization's 50th anniversary, which occurred in 1995. So, if you have this 26-year-old coin in your collection, you may put it on eBay and try your luck at making a lot of money.

Here’s how you to sell your coin collection online on Quikr

You have various choices for selling your currency online. Quikr is one such platform.

- Go to Quikr.com and sign up.

- Now you must register as a vendor by giving information such as your name, email address, phone number, and other details.

- To sell coins, click on the images of the coins you want to sell.

- Make a list and add a description and a location to it.

- Indicate how much you intend to pay.

- In case a buyer contacts you, negotiate pricing with them and complete the exchange.

A one rupee silver coin from the pre-independence era portraying Queen Victoria was auctioned for Rs 2 lakh, while another British era coin featuring George V King Emperor 1918 was listed for Rs 9 lakh. If you have a collection of unusual coins, you can register an account on a platform like CoinBazzar by providing the relevant information.

The Reserve Bank of India (RBI) recently issued a warning to the public against fraudsters who use the Reserve Bank of India's name and logo to solicit fees, commissions, or taxes from the public in online transactions of buying and selling old bank notes and coins.“Reserve Bank of India has also not authorised any institution/firm/ person etc. to collect charges/commission on its behalf in such transactions," RBI said in its notification. The RBI issued a warning to the general public, advising them to "not fall prey to bogus promises of buying/selling old banknotes and coins."

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