No there is no crime to keep antiques coins in India . You need to take permission but as per the Antiquities and Art Treasures Act, 1972′ deals with Antiques. 2. As per this act any manuscript, coin, sculpture, painting etc which dates back to 100 years and above is an antique.
Read moreHow can I convert coins to cash in India?
First, you have to deposit the digital currency into an exchange and then demand a withdrawal . The broker will transfer your money to the same bank account which you would have used to buy the coins. The deposit is made in the same bank account due to money-laundering laws.
Read moreDo banks take coins in India?
RBI advises the bank to accept the coins of every denomination . For mutilated and damaged notes RBI said the notes so presented shall be accepted, exchanged and adjudicated in accordance with Reserve Bank of India (Note Refund) Rules 2009.
Read moreHow much can you legally pay in coins in India?
Coin of any denomination not lower than one rupee shall be legal tender for any sum not exceeding one thousand rupees . Fifty paise (half rupee) coin shall be legal tender for any sum not exceeding ten rupees.
Read moreWhat is the cost of 1 rupee coin?
The average cost of manufacturing a single one rupee coin is ₹1.11 , which is more than its own value, the Reserve Bank of India (RBI) revealed in response to an RTI query. To mint a ₹2 coin, the government spends ₹1.28, it added.
Read moreWhat can you do with coins in India?
The RBI Offices , where Issue Department is functioning, offer the facility to members of the public to exchange their notes including soiled and mutilated notes and coins including uncurrent or worn out coins.
Read moreIs there a 50 rupee coin in India?
). On 30 June 2011, when the 25 paisa and all other lower denomination coins were officially demonetised, the 50 paise coin became the lowest circulating denomination of the Indian rupee .
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