2017-09-11 Mon

Anirudh Sethi from Vadodara has been trying to collect latest Indian banknotes with manufacturing defects. Even though printing technology has improved to a great extent, many of these error notes have entered circulation. When other people were trying to get these error notes replaced, Anirudh was trying to search for crisp new error notes.

The types of errors include wrong cutting, extra paper on notes, overwriting, ink spreading etc. Mr. Sethi has over 200 examples for each of these types of new Rs 2,000 and Rs 500 notes. He also has an error note of the new Rs 50 note.

Sethi said that some notes are printed without serial numbers or images and entire bundles of currency notes can be defective as well. Collectors obtain error notes through sources in the banks or cash handling services. These are sold in collectors’ market or are exchanged among collectors.

Sethi said that it is difficult to find error notes when it comes to US currency, making them costlier. He said that error notes are five, ten or even twenty times higher than its actual value. Sethi also collects new currency notes with fancy numbers like '786' or with all digits in the serial number being the same.