The Magic Number: How “786” Can Make You a Millionaire
When it comes to collecting currency, fancy numbers can determine how expensive they are. But in recent times, there is one particular sequence that has taken over all others and it is 786.
The need for bank notes having the number sequence 786 on them has increased by several times in the past few days. The reasons behind its increasing popularity do not lie in its scarcity, rather they lie somewhere else:
In Islam: The number 786 is considered extremely lucky among Muslims. The reason behind it being that number 786 is equivalent to the numerical value of the Arabic phrase “Bismillah al-Rahman al-Rahim.” Owning a currency note with such a serial number is considered very lucky and promising.
In Hinduism: There is something surprising about this magical number as its importance extends to Hindu traditions as well. According to some beliefs, it signifies the Trimurti consisting of three Hindu gods—Brahma, Vishnu, and Mahesh.
Due to this cultural and religious significance of the number, people are ready to pay extra for any denomination bearing it, ranging from INR 1 lakh to INR 4 lakh.
The phrase “Old Is Gold” could not apply to anything better than Numismatics – the science of currency collection. Whereas the vast majority of us consider their dusty wallets or grandmothers’ old coin purses nothing but heirlooms, modern technological advancements have turned these seemingly mundane possessions into gold mines waiting to be tapped. Recent market analysis, as reported by mainstream media sources such as The Times of India, reveals a growing trend in the sale of selected currency notes and old coins at prices that go as high as INR 3–4 lakh for one specimen alone.
If you’re someone who saves old money or owns currency notes with peculiar serial numbers, you could be holding a fortune in your hands without even knowing it. Let’s delve deep into the subject matter to explore the reasons behind this phenomenon, find out what currencies are most sought-after, and discover how to safely engage in online auctions of currency specimens.
Other Expensive Objects: Rare Coins and Discontinued Notes
Not only the coin bearing the lucky number 786 but other objects can cost a lot of money. For instance, collectors search for:
Coins Issued During British Rule: Those who are interested in pre-independence coins should look for coins depicting either Queen Victoria or King George VI on them.
The Rare Rs 5 Note: Do you know a note worth Rs 5 depicting both a tractor and a farmer on the reverse side? Well, such note becomes even more expensive if it bears an uncommon serial number or some printing error.
Misprint Errors in Banknotes: When collecting banknotes, the mistakes made by the minting house can be very helpful since they add a huge value to such banknotes. For example, notes having cutting error, inkless parts, and double printed banknotes are extremely rare.
Where to sell your old currency and how to do it?
The first thing that comes to mind when thinking about selling your item would be finding a potential buyer. The process of looking around for specific auction platforms that specialize in buying such collectibles has become obsolete.
Popular Websites Where to Sell Your Notes
OLX & Quikr: They are some of the most popular classified websites for buying/selling notes among peers in India.
eBay: International platform where you can contact collectors all around the world who will pay more for your item but in a different currency.
Coin Bazzar: Specialized website for buying/selling coins, notes, and medals.
Procedure on How to Sell
Sign up for an account and become a seller.
Get a good quality camera and take a picture of your note from both sides.
Write a detailed description mentioning denomination of the note and year it was minted/printed in addition to its uniqueness (“786 serial number”, “1947 George VI coin”, etc.).
Put a price on it based on recent sales on the website. Even if you want to sell it for a few lakhs, put a reasonable price so people actually want to buy it.
Words of Warning Against Fraud and RBI Alert
The prospect of earning “easy lakhs” attracts frauds. Several warnings have been issued by the Reserve Bank of India (RBI) to keep the citizens safe from frauds.
Important Facts:
The RBI is Not Involved in the Business of Old Money: The central bank of India has clarified that it does not deal in buying or selling old notes and coins. It does not empower any institution or person to collect taxes or processing charges on its behalf for this purpose.
Avoid Paying Fees for Release of Your Payment: If the buyer or website claims that he or she requires you to make an initial payment or “verification fee” before releasing your payment to you, be alert. No legitimate buyer will ask you to pay money; he or she will pay you.
Identity Verification: It is essential to verify the identity of the buyer. One can use the private messaging facilities available through OLX and eBay websites instead of giving out one’s phone number straightaway.
Conclusion
The collection of ancient money is a very interesting mixture of history, faith, and hobby. No matter whether it is an auspicious ‘786’ note or coins from ages past, the reality is that these items mean more than just what is written on them; they are parts of history that everyone would want to possess.
Although there is nothing quite like the thought of getting three lakhs out of five rupees, such ventures do require patience and a keen eye. As you begin your search in those long-lost drawers and piggy banks, please remember that information and safety should be priorities when using the online marketplace.