Coinage under British governance of the

Indian subcontinent The Indian subcontinent is a physiographic region of Asia below the Himalayas which projects into the Indian Ocean between the Bay of Bengal to the east and the Arabian Sea to the west. It is now divided between Bangladesh, India, and Pakista ...

can be divided into two periods:

East India Company The East India Company (EIC) was an English, and later British, joint-stock company that was founded in 1600 and dissolved in 1874. It was formed to Indian Ocean trade, trade in the Indian Ocean region, initially with the East Indies (South A ...

(EIC) issues, pre-1858; and Imperial issues struck during the

British Raj The British Raj ( ; from Hindustani language, Hindustani , 'reign', 'rule' or 'government') was the colonial rule of the British The Crown, Crown on the Indian subcontinent, * * lasting from 1858 to 1947. * * It is also called Crown rule ...

under the direct authority of the crown. The EIC issues can be further subdivided into two subcategories: the Presidency issues, which comprise separate

Madras Presidency The Madras Presidency or Madras Province, officially called the Presidency of Fort St. George until 1937, was an administrative subdivision (province) of British India and later the Dominion of India. At its greatest extent, the presidency i ...

, Bombay Presidency, and

Bengal Presidency The Bengal Presidency, officially the Presidency of Fort William in Bengal until 1937, later the Bengal Province, was the largest of all three presidencies of British India during Company rule in India, Company rule and later a Provinces o ...

issues; and uniform coinage for all British territories from 1835 to 1858. Imperial issues bear obverse portraits of

Queen Victoria Victoria (Alexandrina Victoria; 24 May 1819 – 22 January 1901) was Queen of the United Kingdom of Great Britain and Ireland from 20 June 1837 until Death and state funeral of Queen Victoria, her death in January 1901. Her reign of 63 year ...

(dated 1862–1901),

Edward VII Edward VII (Albert Edward; 9 November 1841 – 6 May 1910) was King of the United Kingdom and the British Dominions, and Emperor of India, from 22 January 1901 until Death and state funeral of Edward VII, his death in 1910. The second child ...

(dated 1903–1910),

George V George V (George Frederick Ernest Albert; 3 June 1865 – 20 January 1936) was King of the United Kingdom and the British Dominions, and Emperor of India, from 6 May 1910 until Death and state funeral of George V, his death in 1936. George w ...

(dated 1911–1936), and

George VI George VI (Albert Frederick Arthur George; 14 December 1895 – 6 February 1952) was King of the United Kingdom and the Dominions of the British Commonwealth from 11 December 1936 until Death and state funeral of George VI, his death in 1952 ...

(dated 1938–1947) and Edward VII (dated 1903-1910) British trading posts in the

were first established by the

(EIC) early in the seventeenth century, which quickly evolved into larger colonies covering a significant part of the subcontinent. Early settlements or factories included Masulipatnam (1611) and

Madras Chennai, also known as Madras ( its official name until 1996), is the capital and largest city of Tamil Nadu, the southernmost state of India. It is located on the Coromandel Coast of the Bay of Bengal. According to the 2011 Indian ce ...

(1640) in the south,

Surat Surat (Gujarati Language, Gujarati: ) is a city in the western Indian States and territories of India, state of Gujarat. The word Surat directly translates to ''face'' in Urdu, Gujarati language, Gujarati and Hindi. Located on the banks of t ...

(1612) in the west, and modern-day

Kolkata Kolkata, also known as Calcutta ( its official name until 2001), is the capital and largest city of the Indian state of West Bengal. It lies on the eastern bank of the Hooghly River, west of the border with Bangladesh. It is the primary ...

(1698–99) in the east.Gupta, P. L. (1996). ''Coins'', New Delhi: National Book Trust, , pp. 199–219. These colonies gave rise to

, Bombay Presidency, and

, and each Presidency had a separate coinage and monetary system. In time, the EIC adopted a unified system of coinage throughout the

British possessions A British possession is a country or territory other than the United Kingdom which has the British monarch as its head of state. Overview In common statutory usage the British possessions include British Overseas Territories, and the Commonwe ...

in India and the older Presidency system was discontinued. After the

Indian Rebellion of 1857 The Indian Rebellion of 1857 was a major uprising in India in 1857–58 against Company rule in India, the rule of the East India Company, British East India Company, which functioned as a sovereign power on behalf of the The Crown, British ...

, control of EIC territories passed to the British Crown. Pridmore, Fred (1980). ''The Coins of the British Commonwealth of Nations (to the end of the reign of George VI, 1952). Part 4: India, Volume 2: Uniform coinage East India Company, 1835–58, Imperial period, 1858–1947.'' Spink and Son Ltd, London. Coinage issued after 1857 were under the authority of the monarch as India became part of the British Empire. With the

Royal Titles Act 1876 The Royal Titles Act 1876 ( 39 & 40 Vict. c. 10) was an act of the Parliament of the United Kingdom which officially recognized Queen Victoria (and subsequent monarchs) as "Empress of India". This title had been assumed by her in 1876, under ...

, Victoria took the title "Empress of India", so in 1877 coin inscriptions changed from to . There was a transition period after India gained independence on 15 August 1947, and the first set of republic India coins were issued in 1950.

East India Company

The English

was granted a royal charter by

Queen Elizabeth I Elizabeth I (7 September 153324 March 1603) was Queen of England and Ireland from 17 November 1558 until her death in 1603. She was the last and longest reigning monarch of the House of Tudor. Her eventful reign, and its effect on history ...

which allowed trade monopoly with eastern countries including Sumatra, Java, and India. The territories governed by the East India Company were divided into three major administrative regions: Madras Presidency in the south, Bombay Presidency in the west, and Bengal Presidency in the east. Most of the north, however, for a long time continued to remain under the control of the Mughal emperor, and later, local rulers including the Marathas and Rajputs. Each of the three presidencies under East India Company governance issued their own coins until a unified coinage throughout all territories was introduced in 1835.Shirras, George Findlay (1920)
''Indian Finance and Banking''. MacMillan and Company, London.
''Google Books''. Early presidency issues often imitated local issues and the Mughal design in order to gain wider acceptance by the native population. Early European style coins were not popular outside jurisdiction of their respective settlements. In spite of having their own mints, the EIC either sent its bullion to the Mughal mints or forged the common coins of the contemporary Mughal Emperor. In 1717, the EIC obtained rights to strike coins in the name of the Mughal emperor

Farrukhsiyar Farrukhsiyar (; 20 August 16839 April 1719), also spelled as Farrukh Siyar, was the tenth Mughal emperors, Mughal Emperor from 1713 to 1719. He rose to the throne after deposing his uncle Jahandar Shah. He was an emperor only in name, with all ...

on the island of

Bombay Mumbai ( ; ), also known as Bombay ( ; its official name until 1995), is the capital city of the Indian States and union territories of India, state of Maharashtra. Mumbai is the financial centre, financial capital and the list of cities i ...

Madras Presidency

The major mints in the west responsible for issuing coins for the East India Company included Surat, Bombay (Mumbai or Munbai), and Ahmadabad. From 1621 till 1800, the English sent their precious metal bullion to the Surat mint, controlled by the ''Nawab'', to be coined into local gold mohurs and silver rupees. As the Surat mint was unable to meet the required production rate, silver was also sent to the Ahmadabad mint in 1636. During later years, the Ahmadabad mint also struck rupees for the Bombay Presidency in the name of Muhammad Akbar II with the dates 1233–1241 AH (1817–1825 CE). In December 1672, the East India Company started a mint in Bombay and European style gold, silver, copper, and tin coins were struck. The gold coin was named ''Carolina'', the silver coin ''Anglina'', the copper ''Copperoon'', and the tin coin called the ''Tinny''. The exchange rate was set at 11 ''Tiduckone Copperoon'' and 48 ''Copperoons'' to one ''Anglina''. No gold coins (''Carolinas'') were struck until 1717. The obverse of the silver and copper coins showed inside an inner circle the arms of the Company, and within an outer circle the legend ''HON:SOC:ANG:IND:ORI'', for ''Honorabilis Societas Anglicana Indiarum Orientalium'', or ''Honourable English East India Company''. The reverse of these coins had the inscription ''MON BOMBAY ANGLIC REGIMS A° 7°'' in the centre and another legend ''A DEO PAX & INCREMENTVM'' around it. After issuing coins for the East India Company for a number of years, the Surat mint finally came under direct control of the Company in 1800. Gold mohurs, silver rupees, and fractional values were struck in the name of the Mughal emperor

Shah Alam II Shah Alam II (; 25 June 1728 – 19 November 1806), also known by his birth name Ali Gohar, or Ali Gauhar, was the seventeenth Mughal emperor and the son of Alamgir II. Shah Alam II became the emperor of a crumbling Mughal Empire. His power w ...

bearing the frozen regnal year 46. The Surat mint was finally closed down in 1815.Pridmore, Fred (1975). ''The Coins of the British Commonwealth of Nations (to the end of the reign of George VI, 1952). Part 4: India, Volume 1: East India Company Presidency Series c1642 – 1835.'' Spink and Son Ltd, London. A number of privy marks consisting of dots, crescents, and crown-like symbols were used and are helpful in correct attribution of the striking period and mint.

Bengal Presidency

In 1690

Job Charnock Job Charnock (; –1692/1693) was an English administrator with the East India Company. He is widely regarded by historians as the founder of the city of Calcutta (Kolkata); however, this view was challenged in court, and in 2003 the Calcutta ...

of the British East India Company established a trading post near what became Fort William (in present-day

). In 1757 the EIC gained the right to mint coinage in Bengal. The Company's

became a regional territorial power after the 1764

Battle of Buxar The Battle of Buxar was fought between 22 and 23 October 1764, between the forces of the British East India Company, under the command of Major Hector Munro, against the combined armies of Balwant Singh, Maharaja of the Benaras State; Mir Qa ...

. As an outcome of the Indian defeat at Buxar, Shuja-ud-Daula of

Oudh The Kingdom of Awadh (, , also Oudh State, Kingdom of Oudh, Awadh Subah, or Awadh State) was a Mughal subah, then an independent kingdom, and lastly a British protectorate in the Awadh region of North India until its annexation by the Br ...

and the Mughal Emperor

signed the Treaty of Allahabad, granting the

rights to collect revenues from large parts of eastern India. Early Bengal Presidency issues were struck by

mint Mint or The Mint may refer to: Plants * Lamiaceae, the mint family ** ''Mentha'', the genus of plants commonly known as "mint" Coins and collectibles * Mint (facility), a facility for manufacturing coins * Mint condition, a state of like-new ...

s under the name of the Mughal Emperor

Alamgir II Mirza Aziz-ud-Din Muhammad (June 6, 1699 – November 29, 1759), better known by his regnal name Alamgir II, was the fifteenth Mughal Empire, Mughal emperor from 1754 to 1759. He was the son of Jahandar Shah. Born Mirza Aziz-ud-Din, the secon ...

(), and later of

(). The system of coinage values used (which eventually became an Indian standard until

decimalisation Decimalisation or decimalization (see American and British English spelling differences, spelling differences) is the conversion of a system of currency or of weights and measures to units related by Power of 10, powers of 10. Most countries have ...

on 1 April 1957) used the ratios: * 1

pie A pie is a baked dish which is usually made of a pastry dough casing that contains a filling of various sweet or savoury ingredients. Sweet pies may be filled with fruit (as in an apple pie), nuts ( pecan pie), fruit preserves ( jam tart ...

= pice = anna * 1 pice = anna = rupee * 1 anna = rupee * 15 rupees (approximately) = 1 mohur The Bengal Residency government ordered the coining of sikka rupees from 1793 for use as

legal tender Legal tender is a form of money that Standard of deferred payment, courts of law are required to recognize as satisfactory payment in court for any monetary debt. Each jurisdiction determines what is legal tender, but essentially it is anything ...

Imperial coinage

After the

Indian Rebellion The Indian Rebellion of 1857 was a major uprising in India in 1857–58 against the rule of the British East India Company, which functioned as a sovereign power on behalf of the British Crown. The rebellion began on 10 May 1857 in the form ...

of 1857–58, the administration of British India was transferred from the

to the

British Crown The Crown is a political concept used in Commonwealth realms. Depending on the context used, it generally refers to the entirety of the State (polity), state (or in federal realms, the relevant level of government in that state), the executive ...

. From 1862 till Indian independence in 1947, circulation coins were minted under the direct authority of the Crown. The early imperial issued coins continued to bear a fixed date, for example, rupee coins with the year 1862. This practice was intended to discourage the prevalent 'batta' system, i.e., a heavy penalty imposed by money changers or 'shroffs' on coins bearing an older date to account for wear and weight loss, irrespective of the actual condition of the coin.

Victoria Queen and Empress

Gold coinage

Early gold coinage with Queen Victoria's crowned bust consisted of one mohur coins dated 1862. These coins were of the same weight (11.66 grams = one Tola) and fineness (0.9167) as the EIC issued mohurs. These coins, probably minted between 1866 and 1869, were trade coinage and not recognized as legal tender. A number of varieties (including proofs) are known with minor variations in the reverse and obverse decoration details. 'Victoria Queen' mohurs were also struck with the year 1875, as well as 1870 proof issues with a mature bust of Victoria. In 1876, Victoria assumed the title of 'Empress of India' and, from 1877, the legend on the obverse of all coins was changed to 'Victoria Empress'. Gold mohurs with the new obverse legend were issued between 1877 and 1891. The mintage of these mohurs for any given date is relatively low, making them considerably scarce. Fractional values of the mohur (nominally valued at fifteen silver rupees) were also struck in denominations of ten and five rupees between 1870 and 1879. Except for a small number of ten and five rupees dated 1870, most of the fractional mohurs were proof issues. Varieties with both the younger and mature busts exist.

Silver coinage

Currency and proof issues of the 1862 dated rupee coins have a number of different obverse and reverse die varieties, which are helpful in identification of the mint. The design of the coin, however, remained largely unchanged. From 1863 till 1875, the Bombay mint introduced an unusual system of dots to date the coins. These dots occur on the reverse below the date, above the word 'ONE', or in both positions. From 1874, this practice was halted and coins began to be dated continuously. From this development, it may be inferred that by this time the 'batta' system must have all but disappeared. As with all other Victoria coinage, the title on the obverse was changed from 'Victoria Queen' to 'Victoria Empress' in 1877. Calcutta mint coins usually carry no mint mark or an incused 'C' at the bottom of the reverse. Bombay mint issues are usually marked by a raised bead below the date, or a raised/incused 'B' in the top or bottom flower, with some exceptions. Rupee coins with Victoria's bust were minted until her death in 1901. Fractional denominations of half rupee, quarter rupee, and two annas were also issued under Victoria's reign. The dot-dating system was not used for these denominations, and is unique to the 1862 dated Bombay rupees. Similar to the rupee coins, the title of Queen was changed to Empress in 1877. The Bombay and Calcutta issues have mint identification marks similar to the rupee issues (no mark or 'C' incused for Calcutta, bead or raised/incused 'B' for Bombay). Different reverse and obverse die varieties are known for each denomination.

Edward VII

Coins featuring the effigy of Edward VII were issued in denominations of 1⁄12 anna, 1⁄2 pice, 1⁄4 anna, 1 anna, 2 annas, 1⁄4 rupee, 1⁄2 rupee and 1 rupee. All coins featured an uncrowned effigy of Edward VII by George William De Saules. This was a break from tradition, as only coins issued for use in the United Kingdom itself can show an uncrowned effigy, whereas colonies and Dominions could only use a crowned effigy of the King wearing the heraldic Tudor Crown, the Ermine Robe of State, and the Collar of the Order of Bath. The 1 anna coin was the only coin issued to use the crowned effigy, whereas patterns for a 1⁄2 anna piece and gold and silver patterns for 1 anna pieces featured the crowned effigy as well.

George V

The effigy of George V by Bertram Mackennal used here, although used on other coins in many parts of the British Empire, is a slight variation to the regular design in that the Most Noble Order of the Garter collar on the King's robe is replaced by the Order of the Indian Empire. The modification caused controversy, in that a 1911 One Rupee coin, also known as the ''Pig Rupee'', had to be redesigned to ensure that Muslims did not confuse the elephant on the King's collar for a pig.

Edward VIII

During the short reign of

Edward VIII Edward VIII (Edward Albert Christian George Andrew Patrick David; 23 June 1894 – 28 May 1972), later known as the Duke of Windsor, was King of the United Kingdom and the Dominions of the British Empire, and Emperor of India, from 20 January ...

, no coins were issued in India bearing his portrait. Some Indian Princely States, such as of Kutch and Jodphur issued coins that bore his name in Indian Script. Several coins bearing the portrait of Edward VIII are sometimes offered for sale on online auction sites, but these "coins" are almost certainly modern productions and were never officially issued.

George VI

1939 rupee change in silver content wartime measures Coins of the following denominations were issued: * anna ( pice) * pice * anna * Pice ( anna) * anna * Anna * 2

annas Annas (also Ananus or Ananias;Goodman, Martin, "Rome & Jerusalem", Penguin Books, p.12 (2007) , ; , ; 23/22 BC – death date unknown, probably around AD 40) was appointed by the Roman legate Quirinius as the first High Priest of the newly form ...

* 4

(

rupee Rupee (, ) is the common name for the currency, currencies of Indian rupee, India, Mauritian rupee, Mauritius, Nepalese rupee, Nepal, Pakistani rupee, Pakistan, Seychellois rupee, Seychelles, and Sri Lankan rupee, Sri Lanka, and of former cu ...

) *

* 8

(

) *

* One

* 5 rupees (

mohur The Mohur is a gold coin that was formerly minted by several governments, including British India and some of the princely states which existed alongside it, the Mughal Empire, Maratha Empire, Kingdom of Nepal, and Persia (chiefly Afghanistan) ...

) * 10 rupees (

) * 15 rupees (

) * 30 rupees (2

) * British

gold sovereign The sovereign is a British gold coin with a nominal value of one pound sterling (£1) and contains of pure gold. Struck since 1817, it was originally a circulating coin that was accepted in Britain and elsewhere in the world; it is now a ...

, as an emergency war issue, in 1918. There are many rare coins of this period which interests coin collectors. The 1939 rupee is the most expensive rupee, as after 1939 all silver coins effectively became less pure, due to the shortage of silver during World War II. The 1947 rupee, half rupee, quarter rupee and anna coins are also of special interest to collectors, since that was the last year British issued coins were circulated in India.

Under INA

During the

World War II World War II or the Second World War (1 September 1939 – 2 September 1945) was a World war, global conflict between two coalitions: the Allies of World War II, Allies and the Axis powers. World War II by country, Nearly all of the wo ...

Subhas Chandra Bose Subhas Chandra Bose (23 January 1897 – 18 August 1945) was an Indian independence movement, Indian nationalist whose defiance of British raj, British authority in India made him a hero among many Indians, but his wartime alliances with ...

led

Indian National Army The Indian National Army (INA, sometimes Second INA; ''Azad Hind Fauj'' ; 'Free Indian Army') was a Empire of Japan, Japanese-allied and -supported armed force constituted in Southeast Asia during World War II and led by Indian Nationalism#An ...

(INA) seized

Mizoram Mizoram is a states and union territories of India, state in northeastern India, with Aizawl as its Capital city, capital and largest city. It shares 722-kilometres (449 miles) of international borders with Bangladesh to the west, and Myanmar t ...

Manipur Manipur () is a state in northeastern India with Imphal as its capital. It borders the Indian states of Assam to the west, Mizoram to the south, and Nagaland to the north and shares the international border with Myanmar, specifically t ...

and parts of Nagaland from the colonial British control with the help of Japanese forces, British Indian rupee and coins were banned and Japanese rupee (1942–44) was introduced.Did Bose hide in Nagaland? People remember a bearded ‘North Indian’ with Gandhi spectacles
The Print, 27 noc 2023.

References

{{Pakistani rupee coins and banknotes Coins of India Government of British India Historical currencies of India Coins of Pakistan India, British