is selling fancy number INR banknotes in India legal?

[Mightymaster3019]

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Mightymaster3019
PARTICIPANT
January 12, 2025 at 12:44 pm

is it legal?

There are many clips on you tube that your 10 rupees banknote had worth of 1000 rupees if it has specific serial number.

so is it legal?

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[Swiftlion6148]

S

Swiftlion6148
PARTICIPANT
January 12, 2025 at 1:05 pm

It’s totally legal even with their high prices as they are still in circulation ( they don’t know if it is or not) just like old notes , just in this case they are in circulation and it’s ande by RBI and original so yes legal.

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[Calmeagle9213]

C

Calmeagle9213
PARTICIPANT
January 12, 2025 at 1:50 pm

I cannot see why it would be illegal.

Notes with specific numbers are rare and thus are collectible items for some people. It’s like selling a rare gold coin from the Roman era. Value of gold is fixed, but you are not paying only for the gold, you are paying for something which is not easily available in the market.

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[User_4fa79b90]

U

User_4fa79b90
PARTICIPANT
January 12, 2025 at 2:19 pm

Completely legal.

“What is being offered is the uniqueness associated with such currency notes which may have value for certain individuals.” – Observed High Court of MP when a petition against such sale was filed.

As long as the seller doesn’t encourage the public to collect and hold so much so that it can cause an economic imbalance and result in inflation, completely fine and legal.

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