Buyer promising lakhs for old coins or notes, then asking for fees
An ad or page promises lakhs for an old coin or note, then asks you to pay for "RBI registration", tax, insurance or a certificate before you are paid.
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How it works
- An ad or video on social media says old coins or notes, such as a coin with a particular mark or a note with a special serial number, can sell for lakhs.
- When you send photos to the number or website given, an "expert" or "RBI approved buyer" values your coin at lakhs and asks for a small registration fee.
- Then come charges for GST, insurance, TDS, a certificate or an "RBI clearance", and if you stop paying, someone posing as the police or the RBI may threaten you.
What it looks like
Example messages. Numbers and links are masked.
Have an old 1 rupee or 2 rupee coin? Get up to Rs 10 lakh! RBI approved buyer. Send a photo and register today: old-coin-sell[.]in
Congratulations, your coin is approved for Rs 28 lakh. Pay Rs 750 for RBI registration now. After that only GST and insurance, then the full amount comes to your account.
Red flags
- "RBI fee", but the RBI never charges one
- Lakhs offered for an ordinary-looking coin
- Fees before you receive any money
- A new charge after every payment
- Threats from "police" when you stop paying
The one question to ask
Why would a buyer who wants your coin need you to pay them first?
Already paid or shared details?
Call 1930 at once: in the first hour the money can often still be frozen before it moves on. Then call your bank on the number printed on your card, and file a complaint at cybercrime.gov.in with screenshots of every message and payment.
1930 · cybercrime.gov.in
Also seen as
- "Lucky" note with a special serial number
- Old stamp or antique buyer asking for the same fees
- Fake auction website that lists your coin for a fee