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The coin collector: You can make a fortune with your defective notes, coins

Tinesh Bhasin delves into the world of numismatics and finds that the 'hobby of kings' has many takers

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Smart Spending

Tinesh Bhasin 

What would you do if you received a note from the bank with a printing error? Most would typically rush back to the bank to exchange it for the fear that it wouldn’t hold any value. However, some collectors would be willing to shell out thousands to lay their hands on such a note.

At a recent auction, one such Rs 100 note was auctioned with a base price of Rs 10,000. The denomination on the note was not printed entirely, a portion was blank, and it had extra paper stuck on it. Similarly, a single Re 1 or Rs 2 coins with minting error could fetch you 50-200 times intended value. ...

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First Published: Fri, May 18 2018. 06:30 IST
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