Collecting currency notes is one of the most typical hobbies. Several people have enjoyed this hobby for decades and it is still a thriving pastime today. Collecting money refers to collecting old money as a hobby. Do you know how many collectors collect antique coins, notes and old currency in India from past decades and centuries? Coin collecting experts are more common than paper money collectors though the latter still manage to find rare items some times. The paper variety might include pre-British colonial currency and currency from the beginning of the 18th century as they are almost impracticable to find and two times as hard to buy.
If you are eager on collecting currencies, you will know that a collector’s item is known as fractional currency. It is intriguing to know that the U.S government printed 25 cents, 50 cents, 5 cents and 10 cents paper money in the Civil War period since they were running short on change. These weird banknotes are desired by old money collectors today.
Significant value of old currency
It is obvious that a great deal of old money has considerable value today. It is factual that casual old money collectors cannot manage to pay for the authentic old notes and money from the early 1900s and the late 1800s as the value and price of the old notes are too high. This is how the souvenir cards collection became more popular. You can get them without having to actually pay a higher cost for the piece of history.
Indian currency
Indian currency includes various banknote varieties. The rupee is the currency of the nation and all banknotes are issued by the RBI [Reserve Bank of India]. Furthermore, every banknote carries the initials of the Governor of the RBI, except for the one rupee note that comes with the initials of the Finance Secretary of India. The very first one rupee note was issued during the year 1917. It was distributed in the form of a packet of twenty-five notes. This particular variety was made using white hand-made moulded paper and had the image of King George V. It was signed by 3 people; H. Denning, M.M.S. Gubbay and A.C. Mc Watters.
As the money value kept growing, the printing of these notes was stopped. Likewise, the two rupee note printing also was stopped eventually. In the past, there were notes in 5000 and 10,000 denominations. But, they were discontinued during the emergency period in 1970. At present, the banknotes that are in the market include the denominations of 2000, 500, 200, 100, 50, 20, and 10.
Visit antique stores
If you are looking to find an old one rupee note, you will not like this answer. It is actually very difficult to find one. The antique notes and coins that you seek will not be easily found nor bought. The simplest way to please your desire to accumulate old money is via collectors, dealers, old money paper shows and auctions. You might find various websites that offer contact information for auctions and trades alongside the images of old notes and coins.
Verdict
Collection of old currency in India is a fun and unique hobby. Though it has its own set of challenges, there are no two ways about its worth.