Government website myth

Is there a government website to sell old coins in India?

No. There is no government website that buys old coins or notes. The Reserve Bank says it does not deal in buying or selling them, and the FAQ of SPMCIL, the government-owned company that runs the India Government Mint, describes only selling souvenir and commemorative coins to the public; it mentions no service for buying coins from anyone. Where a government office does take money back, as with a ₹2,000 note, that is an exchange at face value, not a sale.

What the RBI and the Mint actually do

• The RBI does not buy old coins or notes. Asked “Where can I sell my old banknotes and coins?”, its Indian Currency FAQ (updated 15 April 2025) answers that the RBI “does not deal in matters pertaining to buying/ selling of old banknotes and coins” (the RBI’s full statement).
• The Mint sells coins and lists no way to buy yours. The four India Government Mint units, in Mumbai, Kolkata, Hyderabad and Noida, belong to SPMCIL. Its FAQ says the public can buy souvenir and commemorative coins from it, and says nothing about buying coins from the public. Its online shop is indiagovtmint.in, linked from spmcil.com. The same FAQ says the Mint takes no orders by phone, only through its website, so nothing the Mint publishes supports a WhatsApp message offering to buy your coin “for the Mint”.
• No government scheme has been announced. On 29 July 2026 PIB Fact Check said that videos of the Prime Minister announcing that banks now buy old, rare and antique notes and coins, with bank staff collecting them door to door, were AI deepfakes. Neither the Prime Minister nor the central government, it said, had announced any such scheme.

Where the government does take coins, and what you get

A word on notes. The ₹2,000 note is still legal tender: the RBI’s 19 Issue Offices exchange it or credit it to your bank account, and you can also send it by India Post from any post office for credit to your account. That is an exchange, not a sale (RBI, 1 May 2026). Old ₹500 and ₹1,000 notes issued up to 8 November 2016 stopped being legal tender at midnight that day. Under the Specified Bank Notes (Cessation of Liabilities) Act, 2017 you may only keep them, up to 10 in total or 25 for study, research or numismatics; selling, buying, giving or receiving them is barred, and the fine can reach ₹10,000 or five times the face value, whichever is higher (details).

“Government approved buyer”, “official website”, “RBI letter”: how the fakes look

• Check the address. The RBI’s only official website is rbi.org.in. In a 2018 warning about lottery and foreign-fund frauds, it told the public not to be misled by fake websites with look-alike addresses beginning “Reserve Bank” or “RBI” and fake logos, and in 2021 it said its name and logo were being misused in old coin and note deals too. The Mint’s sites are spmcil.com and indiagovtmint.in. The RBI does not deal in old coins and the Mint’s FAQ lists no buying service, so a site calling itself a government or RBI coin buyer contradicts both.
• Government approved, or government registered, buyer. On 4 August 2026 PIB Fact Check called a video of the Prime Minister endorsing a “government-authorised buyer” for an old coin exhibition fake and digitally manipulated; he endorsed no such buyer. The RBI has authorised no institution, firm or person to collect charges on its behalf in such deals. Is an old coin buyer government or private? Private: a collector or a dealer (how borrowed authority is used in the scam).
• “Government scheme” videos and links. PIB Fact Check called more videos of the Prime Minister announcing purchases of old notes and coins, shared by Facebook pages, AI deepfakes on 31 August and 22 September 2026; he made no such announcement. Its advice: do not share or forward any suspicious video or link, and check real government schemes on myscheme.gov.in.
• A letter or email in the RBI’s name. On 27 February 2026 PIB Fact Check called a letter in the RBI’s name fake and a scam. It promised money for old coins, then asked for ₹700 as a “form charge” and ₹12,150 as a “delivery fee”. PIB added that the RBI does not send emails or letters asking for money, fees or personal details. Since the RBI does not deal in old coins at all, an “RBI approval letter” or “RBI clearance” for selling one is the same trick (what the RBI says).
• A “government price list”. The RBI publishes no price list for old coins; a PDF calling itself one was made by somebody else (what coins actually sold for).

So who buys old coins, and where do you sell?

Collectors and dealers, never the government. Where to sell old coins in India compares the options; five two-minute checks tell a real selling site from a fake; and the old coin price list shows what coins and notes actually sold for, so you have a real number before anyone quotes you one. On The Currency Bazaar, buyers reach you by in-site chat, your phone number is not shown, every message is checked for fee requests and one that trips the check carries a warning, and we take 0% commission on the sale.

Related pages

• What the RBI actually says about old coins and notes
• Is an old coin selling website real or fake?
• Where to sell old coins in India: seven options compared
• Found old coins or notes at home? What to do, and what not to

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Last updated: 2026-10-04