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Coin and Paper Money Collecting/enquiry on value of one cent coins

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Question
Dear sir,
on a casual day there were few people in our neighbourhood willing to pay Lankan rupees 5000 for pre independence one cent coins. Please enlighten me on this subject. Please also inform me where i can sell them. My mother in law happened to possess five of these coins and your expertise and advice on this subject would be of immense value.

Thanking you,

Answer
A Clever Scam

This is a gimmick to motivate you to bring out your old coins for sale to them as well as to sell at much above market value similar coins to ignorant buyers who think they can resell for a higher price.

I heard this story few months ago but did not pay any attention to it.
I confirmed with my trusted dealer that they only agree to pay Rs5000/- for a 1 cent coin of a Non-existence year of Issue.

Circulated pre Independence 1 cent coins sell for less than Rs100/-
The only rare pre independence 1 cent coin worth any significant price is  
http://coins.lakdiva.org/pattern/1942_george_vi_01c_pattern.html
and that was never put into circulation.

Few years ago they advertised in lankadipa willing to pay Rs7 lakhs for a Queen Elizabeth one rupee currency Note of 1940. She only became queen in 1952 :-)
They even altered the date on a 1952 note and passed around images of that.
That was a very successful campaign and they sold a lot of similar notes at much above market value to ignorant buyers who assumed they could sell it for a higher price.  

Coin and Paper Money Collecting

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Dr Kavan Ratnatunga

Expertise

I can only answer any question regarding Paper Money, coins and Tokens that circulated in Ceylon/Sri Lanka of any era which extends back to 300 BCE. I maintain website notes.lakdiva.org and coins.lakdiva.org which may help you identify your banknote or coin. If Country is any other or unknown, coin should have been found in Sri Lanka. Please Do not ask questions about any coins or currency of other countries including USA. Thank You.

Experience

I maintain since 1998 the largest website on Ceylon/Sri Lankan coins and Tokens with over 900 pages.

Organizations
Former President Sri Lanka Numismatic Society founded in 1976

Publications
Sunday Times NewsPaper of Sri Lanka. See lakdiva.org/suntimes

Education/Credentials
BSc MS PhD in Physics/Astronomy Diploma in Museology

Awards and Honors
Contributor on Ceylon/Sri Lanka for Krause Standard Catalogs of World Coins and Paper Money.

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