Scam Alert

🚨 Online Old Coin Buyer Scam Alert: Never Pay an "International Bank Fee" to Receive Your Money

Selling old coins online has become increasingly popular, but unfortunately scammers have also become more sophisticated. Every day, collectors and first-time sellers lose money because they believe fake payment confirmations, forged bank documents, and convincing email messages.

The screenshots below show a real scam pattern used by fraudsters to trick sellers into paying advance fees.

Old Coin Scam Conversation

Step 1: The Buyer Shows Interest

The scam usually starts with someone contacting you through an online marketplace.

They quickly agree to your asking price without negotiating and claim they are ready to make the payment immediately.

They often pretend to be:

  • Foreign coin collectors
  • Antique dealers
  • Military personnel
  • Business executives
  • International buyers

The goal is to make the transaction appear genuine.

Step 2: Fake International Bank Invoice

The scammer sends what appears to be an official bank receipt or international transaction document.

Fake Bank Invoice

🚩 Red Flags

  • Uses a Gmail email address instead of an official bank domain.
  • Poor grammar and spelling mistakes.
  • Fake transaction numbers.
  • "International Transaction Pending" notice.
  • Claims your payment is waiting.
  • Uses copied bank logos.
"Your payment is already sent but pending verification."

This is completely false.

Step 3: Fake Email from the Bank

Soon after, another email arrives pretending to be from an international bank.

The email typically says:

Pay ₹3,210 as International Bank Commission before your transfer can be completed.

or

Pay ₹999 GST / Insurance Fee.

These emails contain several warning signs:

  • Broken English
  • Grammar mistakes
  • Random capital letters
  • Urgent payment requests
  • Fake banking terminology
  • Gmail sender addresses

No legitimate international bank works this way.

Fake Bank Email

Step 4: Buyer Pressures You

The buyer then sends chat messages like:

"Once you pay the charges, the money will be released immediately."
"The bank says you have to pay ₹999."
"Don't worry, you'll receive the payment within five minutes."

This creates urgency and psychological pressure.

The scammer wants you to believe:

  • Your money is already waiting.
  • Only a small fee remains.
  • You'll lose the payment if you don't act quickly.

❌ The Truth

Banks NEVER ask the recipient to pay money before receiving an international transfer.

If someone genuinely sends you money:

  • ✅ The money is credited directly.
  • ✅ Any bank charges are deducted automatically.
  • ✅ International fees are settled between banks.
  • ✅ You never pay money to a bank representative.

If anyone asks you to pay:

  • GST
  • Insurance Fee
  • Bank Commission
  • Currency Conversion Fee
  • Activation PIN Fee
  • Transfer Unlock Fee

It is almost certainly a scam.

Common Fake Charges Used by Scammers

  • International Bank Commission
  • GST Clearance Fee
  • Insurance Fee
  • Currency Conversion Tax
  • RBI Approval Fee
  • Anti-Terrorism Clearance
  • IMF Processing Fee
  • Activation PIN
  • Bank Unlock Fee
  • Swift Activation Charge
  • Verification Deposit

These charges do NOT work this way.

How Real International Transfers Work

  • ✅ Money goes directly to your bank account.
  • ✅ Transfers may take 1–5 business days.
  • ✅ No advance payment is required.
  • ✅ Banks automatically deduct any applicable fees.

How to Protect Yourself

  • Never pay any advance fee.
  • Never trust screenshots or PDF receipts.
  • Always verify payments in your own bank account.
  • Ignore fake bank emails sent from Gmail or Yahoo.
  • Never share OTPs or banking passwords.
  • Block buyers insisting on advance payments.
  • Report suspicious users immediately.
  • Trust your bank balance—not edited documents.

🚩 Warning Signs of an Old Coin Scam

  • Buyer instantly agrees to your price.
  • Buyer claims to be overseas.
  • Buyer sends fake bank receipts.
  • Buyer asks for ₹999, ₹2,100, ₹3,210 or similar processing fees.
  • Buyer says payment is "pending".
  • Buyer pressures you to pay immediately.
  • Buyer refuses normal payment methods such as UPI or direct bank transfer.

⚠️ Remember This Rule

If someone asks you to PAY MONEY in order to RECEIVE MONEY, it is almost always a SCAM.

Never send an advance payment when selling old coins or collectibles.

Stay Safe with Hobbynest (99localads.in)

At Hobbynest, we continuously educate collectors about online fraud and encourage safe trading practices.

Before completing any deal:

  • Verify the buyer.
  • Confirm payment inside your own bank account.
  • Never trust edited bank documents or screenshots.
  • Report suspicious buyers immediately.

A few minutes of verification can save you from losing thousands of rupees.

🛡 Help Protect Other Collectors

Share this article with your friends and fellow collectors to spread awareness and stop online old coin scams.