I don't think you should keep it though...HiMyNameIsAJ said he wanted to remove them so no one could hunt for them but I don't think your going to get banned though :P
Selling vanilla items is classed as scamming other players. because vanilla items are considered to have no value in the game. Receiving anything in return could result in a ban. Also, deliberately exploiting glitches to obtain vanilla items could get you into trouble.
Giving it away is not specifically against the rules. However, the game staff are working on a system which would remove vanilla items from the game, and some players have already had several vanilla items removed, so don't be surprised if it mysteriously vanishes at some point in the future...
Old emeralds, EB and LE can currently still be used at merchants and identifiers (and can be converted to new versions at Emerald/LE Merchants). As such, these are not vanilla items, but not worth any more than their new versions.
@HappyHorse - your cactus is considered vanilla, as a cactus has never supposed to be obtainable in-game. The cactus plant growing in the old Djemble Lab would occasionally throw out a cactus block, as they do in vanilla minecraft, and so players could pick them up. This is the real reason Djemble had to die - to remove this vanilla item glitch and make cactus blocks impossible to get.
Comments on Profile Post by Archeopstoms