Friday, October 8, 2010
why the demand for 1964 1982 and 1995 one rupee note is so high
Atrader in old coins and notes, purchased 30 one-rupee notes -- the first ones printed by the government after Independence -- bearing the signature of the then finance secretary of India, K R K Menon.He paid Rs 1,350 for each note.All bank notes of India carry the signature of Reserve Bank of India's Governor's signature except the 1 Rupee note which has the Finance secretary's signature. The first Finance Secretary was KRK Menon and the first RBI governor was CD Deshmukh. Some of the Re 1 notes printed in 1964, bearing the signature of the then finance secretary, S Bhoothalingam, are at present available on ebay.com for Rs 25,500 each.However, all old currency notes do not appreciate as rapidly in value. The availability of the note in the market is the main factor. For example: the Re 1 notes printed in December 1964 and signed by Bhoothalingam are very rare, but other notes signed by him in the subsequent months might be available in the market and may not fetch the same value. The Rupee note ceased to be in existence in 1995.That is why demand of one rupee note of 1995 is very very high.
Posted by Abhas Verma at 2:42 PM