From ₹5,000 to ₹7.5 Lakh: Replica ₹10,000 Note Gifted to Pranab Mukherjee Becomes Star of Rashtrapati Bhavan Auction

New Delhi | September 20, 2025 — A replica of a very rare ₹10,000 banknote has become the star attraction at the Rashtrapati Bhavan auction. The note, which was gifted to former President Pranab Mukherjee in 2015, has drawn 51 bids so far. Starting with a base price of just ₹5,000, the highest bid has now touched a massive ₹7.5 lakh.

This auction is being organised by Rashtrapati Bhavan to sell selected gifts presented to past and present Presidents of India. The online event has created buzz among collectors, historians, and ordinary citizens alike.

A Note With History

The item in focus is not an actual currency note but a replica specimen of the old ₹10,000 note.

• The original ₹10,000 note was first issued in 1935, during the British era. It carried the image of King George VI.
• After India’s Independence, the note was re-issued in 1950, this time with changes such as the Ashoka Pillar emblem instead of the king.
• The note was later discontinued. Today, original pieces are extremely rare and considered treasures for currency collectors.

The replica specimen given to Pranab Mukherjee in 2015 carries this rich story. Its connection to the country’s history and to the Presidency has made it highly valuable for bidders.

The Auction in Detail

The Rashtrapati Bhavan auction is being conducted online through a dedicated government portal. Anyone can register, see the items, and place bids.

• The replica note started with a base price of ₹5,000.
• Interest in the note grew quickly, with multiple bidders joining the race.
• At the time of reporting, 51 bids have already been placed, with the latest bid standing at ₹7.5 lakh.
• The auction will remain open until September 30, 2025, giving bidders more time to compete.

Officials say this is only the second edition of the “presidential gifts” auction. The first was also a success, but this year’s event seems to be attracting even greater attention.

What Else Is on Sale

The ₹10,000 note may be in the spotlight, but it is not the only rare or attractive item on the list.

The auction features over 250 artefacts. These include both small and large gifts given to Presidents over the years.

Some highlights are:

• A vintage-style railway clock gifted to Pranab Mukherjee. It is modelled after the famous 1747 clock at London’s Victoria Station. This item has also drawn multiple bids.
• Handcrafted souvenirs, such as japis (traditional Assamese headgear) and angavastrams (ceremonial cloths).
• Cultural mementoes from different states of India.
• Statues made of silver and other metals. The most expensive among them is a silver statue of Rani Chennamma of Kittur, which was gifted to current President Droupadi Murmu. Its base price is about ₹4 lakh.
• The cheapest item on the list is priced at around ₹4,300.

Almost 90 out of the 250 items were gifts to President Murmu herself, who has now completed three years in office.

Why This Note Is So Special

The huge interest in the replica note can be explained by a few reasons:

1. Historical Value: The original ₹10,000 note was the highest denomination ever printed in India. It connects to both the colonial and early Independence periods.
2. Rarity: Such notes are no longer in use. Even replicas are uncommon.
3. Presidential Connection: Since this specimen was given to Pranab Mukherjee, it carries an additional sense of prestige. Mukherjee was India’s 13th President and a respected statesman.
4. Collector’s Pride: For currency collectors, owning even a replica tied to such history is a big achievement.

Use of Proceeds

The government has clarified that all money raised from the auction will be used for social welfare projects.

• Proceeds will go towards programmes that benefit women and children.
• Gifts received from foreign dignitaries are not being sold. These remain preserved as part of India’s diplomatic heritage.

This gives the auction not just a cultural value but also a humanitarian purpose. Bidders know that their money will ultimately help social causes.

Growing Interest in Heritage Auctions

India has seen a growing interest in auctions of rare and heritage items. Collectors today are ready to pay high amounts for objects that connect them to history, culture, or politics.

The Rashtrapati Bhavan auction stands out because it offers artefacts linked directly to the country’s highest office. Unlike museum collections that remain closed to public ownership, these items can actually be purchased and kept by individuals.

Reactions and Public Curiosity

News of the ₹7.5 lakh bid has created strong curiosity. On social media, many users expressed surprise that a replica note could command such a high price. Others pointed out that its historical link and presidential provenance make it worth the money.

Some also raised questions about whether gifts to Presidents should be sold at all. According to officials, however, the auction is a way to make these gifts accessible to people while also raising funds for important welfare projects.

Collectors and heritage enthusiasts are thrilled. For them, such auctions are rare opportunities.

What Lies Ahead

The bidding will continue for another ten days. Experts say the ₹10,000 note could fetch even more before the auction closes. The final winning bid might surprise everyone.

Other items, like the railway clock and silver statue, may also see bidding wars in the coming days.

After the auction closes, successful bidders will be officially handed over their items. The funds raised will then be directed to the planned welfare projects.