Rare coin of Re1 sold for Rs100m at online auction

The rare coin of Re1 was sold for a whopping Rs100 million at an online auction that had been issued in 1885 during the British era in India.

The passion for collecting old coins and notes might get a good return to the people by using the right platform.

In one such example, an online auction generated a whopping income of Rs100 million for a British-era coin of Re1 which seems like a lottery ticket for someone to become a multi-millionaire, according to Indian media reports.

Several websites are offering services to the people to sell old and rare coins online which needs basic details of users such as name, address, email and phone number to act as a communicator between the buyers and sellers.

Earlier, a rare US coin issued in 1933 had been sold for $18.9 million at an auction in New York in June.

READ: AUSTRALIA MINTS ITS MOST VALUABLE COIN EVER

In November last year, a couple in South Carolina had discovered two cases full of rare coins worth around $25,000 in their new home after they moved in and returned them to their owner.

The home’s former owner, a coin collector, had said most of his collection is kept in a safe, but he had forgotten about the cases stashed in the drawer when he was moving out of the house. He had estimated the worth of the left-behind coins at about $25,000.