Currency Sellers In Old Delhi Trade Antique Coins For Pittance

The few that are still in the currency selling business can earn anywhere between £1 on a bad day to more than £10 on a good day.

The currency sold - mostly coins - are as old as 17th century while others belong to the era of Mughals or East India Company.

The coins issued by long-reigning emperors of India with unusual shapes and in the name of women are considered rare by collectors.

Mohammad Farooq, an old currency seller said: “I have been in this business for more almost 20 years now. The turnout is low but enough to feed my family twice a day.

“There are no fixed rates on coins. Today a coin will sell for a £1 and after few days the same coin will sell for £10. This market keeps changing."

While some of the extremely rare coins are usually sold by the vendors, the prices are far too low than the exact worth of piece.

Kishan, a numismatic and old coin-seller on the streets of Old Delhi said: “I once sold a gold Mughal-era coin for more than £600. It now costs 10 times more.

“I am a numismatic and that is why I sometimes know the worth of these coins. Most of the sellers here don’t have an idea what they are selling at far low prices. If they knew, they would be rich by now.”

Sometimes, the antique currency sellers are not only a good sight for the numismatics but also for those who make money by selling old coins or notes they think are of no use now.

At times, the foreigners just exchange notes of their old currency with an antique Indian currency that is rarely found.

Prem, an old currency seller said: “Foreigners mostly pay good money for these coins. If they have an old coin from their country, they exchange it with the one we have here. We then sell their coin to those interested.”

“This is another way of making good money. Being able to find a foreign antique coin so easily is a catch for those who collect coins here.”

Prices of rare and antique currencies, both coins and notes, have increased by several manifolds over the past few years. As the number of antique currency sellers on the streets is reducing, the online auctions have sold as many as 30,000 rare coins in 2015.