old rupee note in your wallet could make you rich
Image: A one rupee note.
Photographs: Courtesy, RBI
The possibilities of a fancy number are endless. The value of a fancy number note cannot really be ascertained, says Gala. It depends on what value the likes of Jhunjhunwala peg it at.
So next time you come across a note with a 'fancy number', don't be in a rush to spend it. It may be worth much more than its face value.
Error Notes
Usually, people are eager to palm off a misprinted note to an unsuspecting person. But if you find yourself in a similar position, don't rush to rid yourself of the error note.
Error notes are notes that are misprinted by the RBI and are supposed to be destroyed. But somehow they find their way into the market and in the hands of money changers and collectors.
Again, the value of an error note cannot be determined but it is certain that it will fetch you a decent amount.
These notes are also known as replacement notes. During the printing of a certain series of notes, one of the notes in the bundle could be misprinted. The note which replaces the misprinted one in the bundle will not be serially numbered like the rest.
To identify such a note, a star sign is inserted in the number panel between the prefix letter and the series number.
"Such notes are rarely seen in circulation as they are in great demand from collectors," says Arun Sanghvi, a money changer.
Not surprising that even an ordinary Rs 10 star note with no fancy number or a particular governor's signature can be sold to a money changer for Rs 30. If you ever come across a star note, know that you are richer by a few rupees.
Moral of the lesson: do keep a close watch on all your notes henceforth. The value of the Rs 10 note in your wallet may actually be worth a few extra zeroes.
Image: A two-rupee note.
Collectors are interested not only in
currency notes which are out of circulation but also those which are
currently in use. Of course, they must have some special feature to be
of interest to a collector.
Like the Rs 10 'star' note, or replacement note with former finance secretary and present RBI Governor D Subbarao's signature and a series number 000001. This note was bought for Rs 50,000 by Kishore Jhunjhunwala, a numismatist.
But how would you know if the Rs 10 note in your wallet can fetch you a fortune? Here are a few parameters that may help you assess the value of your note.
Fancy Number
Each note bears a unique series number. For example: your note may have the following number printed on it: 01A 124578. Here, 'A' is the prefix letter and 124578 is the series number. You will also find a letter in the background of the series number, known as the inset letter, that identifies the mint it has been printed in.
The combination of the prefix and the series number or just the series number creates the fancy number. For example: a plain series number like 123456 or one that comprises the same digits like 111111 or an interesting combination of the prefix and the series number - 11B 111111, may be of interest to collectors.
Click NEXT to read on. . .
Like the Rs 10 'star' note, or replacement note with former finance secretary and present RBI Governor D Subbarao's signature and a series number 000001. This note was bought for Rs 50,000 by Kishore Jhunjhunwala, a numismatist.
But how would you know if the Rs 10 note in your wallet can fetch you a fortune? Here are a few parameters that may help you assess the value of your note.
Fancy Number
Each note bears a unique series number. For example: your note may have the following number printed on it: 01A 124578. Here, 'A' is the prefix letter and 124578 is the series number. You will also find a letter in the background of the series number, known as the inset letter, that identifies the mint it has been printed in.
The combination of the prefix and the series number or just the series number creates the fancy number. For example: a plain series number like 123456 or one that comprises the same digits like 111111 or an interesting combination of the prefix and the series number - 11B 111111, may be of interest to collectors.
Click NEXT to read on. . .
Image: A one rupee note.
Photographs: Courtesy, RBI
The possibilities of a fancy number are endless. The value of a fancy number note cannot really be ascertained, says Gala. It depends on what value the likes of Jhunjhunwala peg it at.
So next time you come across a note with a 'fancy number', don't be in a rush to spend it. It may be worth much more than its face value.
Error Notes
Usually, people are eager to palm off a misprinted note to an unsuspecting person. But if you find yourself in a similar position, don't rush to rid yourself of the error note.
Error notes are notes that are misprinted by the RBI and are supposed to be destroyed. But somehow they find their way into the market and in the hands of money changers and collectors.
Again, the value of an error note cannot be determined but it is certain that it will fetch you a decent amount.
These notes are also known as replacement notes. During the printing of a certain series of notes, one of the notes in the bundle could be misprinted. The note which replaces the misprinted one in the bundle will not be serially numbered like the rest.
To identify such a note, a star sign is inserted in the number panel between the prefix letter and the series number.
"Such notes are rarely seen in circulation as they are in great demand from collectors," says Arun Sanghvi, a money changer.
Not surprising that even an ordinary Rs 10 star note with no fancy number or a particular governor's signature can be sold to a money changer for Rs 30. If you ever come across a star note, know that you are richer by a few rupees.
Moral of the lesson: do keep a close watch on all your notes henceforth. The value of the Rs 10 note in your wallet may actually be worth a few extra zeroes.
Image: A two-rupee note.
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