Part 3 · Foundation & Basics

Collector Reality — The Grey Zone

Selling old notes, keeping demonetised currency, fancy serial numbers, online selling, auctions, and the legal grey zone of numismatic collecting.

16 questions in this part

1 Can you collect old currency notes legally? 2 Is it legal to sell old notes at high prices? 3 Can you keep demonetised notes legally? 4 Is selling fancy serial number notes legal? 5 Is it legal to sell new note packets at a premium — and is holding them hoarding? 6 New note packets are not available at bank counters — they only come through the grey market at a premium. What is the legal position of everyone in this chain? 7 Is currency trading legal in India? 8 Can you run a currency dealing business? 9 Is selling currency notes online legal? 10 Are tokens legal to collect in India? 11 What are non-circulating commemorative notes and coins (NCLT)? 12 At what point does a 'collector' legally become a 'dealer'? 13 Can you legally advertise currency notes for sale on social media? 14 Is it legal to auction currency notes in India? 15 Can you legally trade currency notes at a numismatic fair or exhibition? 16 Is it legal to create a numismatic club or society in India?