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Nitesh Kumar Sahoo

News Highlights

  • The Reserve Bank of India (RBI) had cautioned the public from falling prey to 'fictitious deals' offered by unscrupulous elements by using its name to sell or buy old coins and notes.   

Are you fond of collecting old and vintage items? Are you a numismatist by chance? If you are looking out for ways to make some fast bucks, then you shouldn’t miss out on some of the coolest ways to earn. If you have a stock of old Indian currencies then you may hit the jackpot and earn around Rs 3 lakh.

Open up your box where you have stored the Indian currencies and search for the banknotes. Check out the serial number of the notes. If the note has a serial number ending with '786', you are probably a few steps away from becoming a 'Lakhpati'. 

Review These Points Before The Final Execution 

1.    Make sure about the authenticity of the currency note. 
2.    The banknotes must be issued by the Reserve Bank of India (RBI). 
3.    The notes must be in good condition.
4.    You can exchange all currency notes in circulation, i.e. Rs 5, 10, 20, 50, 100, 200, 500, 2000. You can also look out for old notes which are unused. 
5.    Above all, make sure the serial number of the note ends with '786'.

Significance of '786'

786 is considered a lucky or holy number. Especially, the significance of this number in Islam is above everything. The number is believed as a numeric form of the Arabic phrase “Bismillah al-Rahman al-Rahim”, meaning, ‘In the name of God, the Most Gracious, the Most Merciful’.

For this reason, the demand for the currency notes with 786 serial number are high.

You need to follow a few steps after finding the currency note/s with 786 serial numbers which can likely fetch you a huge amount of money.

Steps To Follow

1.    Search for coin trading sites like Coinbazaar or Quikr.
2.    Register yourself and open an account on any of these sites. 
3.    Click a photo of the banknotes with '786' serial number.
4.    Upload the pictures of the notes on the site following the steps.
5.    Update your address, mobile number and email address. 
6.    Quote a price for your item. 
7.    Interested bidders will contact you. 
8.    However, you can bargain with the purchaser and lock the final deal as suitable. 
9.    The buyer will directly contact you. Hence, you can set the terms of payment and delivery.

Prevailing time is tough for many as they have lost their jobs and source of earning owing to the pandemic situation. People are searching for several other ways to make some money and strengthen their financial condition. If you are one among such persons, you can try your luck and may earn cash exchanging cash. 

RBI Caution Against Coin/Note Trading Online

A few days back, the Reserve Bank of India (RBI) had cautioned the public from falling prey to 'fictitious deals' offered by unscrupulous elements by using its name to sell or buy old coins and notes.   

In its letter, RBI stated that "It has come to the notice of RBI that certain elements are fraudulently using the name/ logo of Reserve Bank of India, and seeking charges/ commission/ tax from public, in transactions related to buying and selling of old banknotes and coins through various online/ offline platforms."

Further clarifying about the online trading of coins/notes, it said, "It is clarified that Reserve Bank of India does not deal in such matters and never seeks charges/ commissions of any sort. Reserve Bank of India has also not authorised any institution/ firm/ person etc. to collect charges/ commission on its behalf in such transactions."

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