British trading posts in the

Indian subcontinent The Indian subcontinent is a list of the physiographic regions of the world, physiographical region in United Nations geoscheme for Asia#Southern Asia, Southern Asia. It is situated on the Indian Plate, projecting southwards into the Indian O ...

were first established by the

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

(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 Machilipatnam (), also known as Masulipatnam and Bandar, is a city in Krishna district of the Indian state of Andhra Pradesh. It is a municipal corporation and the administrative headquarters of Krishna district. It is also the mandal headquarte ...

(1611) and

Madras Chennai (, ), formerly known as Madras ( the official name until 1996), is the capital city of Tamil Nadu, the southernmost Indian state. The largest city of the state in area and population, Chennai is located on the Coromandel Coast of th ...

(1640) in the south,

Surat Surat is a city in the western Indian state of Gujarat. The word Surat literally means ''face'' in Gujarati and Hindi. Located on the banks of the river Tapti near its confluence with the Arabian Sea, it used to be a large seaport. It is now ...

(1612) in the west, and modern-day

Kolkata Kolkata (, or , ; also known as Calcutta , the official name until 2001) is the capital of the Indian state of West Bengal, on the eastern bank of the Hooghly River west of the border with Bangladesh. It is the primary business, comme ...

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

Madras Presidency The Madras Presidency, or the Presidency of Fort St. George, also known as Madras Province, was an administrative subdivision (presidency) of British India. At its greatest extent, the presidency included most of southern India, including the ...

Bombay Presidency The Bombay Presidency or Bombay Province, also called Bombay and Sind (1843–1936), was an administrative subdivision (province) of British India, with its capital in the city that came up over the seven islands of Bombay. The first mainl ...

, and

Bengal Presidency The Bengal Presidency, officially the Presidency of Fort William and later Bengal Province, was a subdivision of the British Empire in India. At the height of its territorial jurisdiction, it covered large parts of what is now South Asia and ...

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

, control of EIC territories passed to the British Crown.Fred Pridmore (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, 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. Coinage under the British can be divided into two periods:

(EIC) issues, pre-1835; and Imperial issues struck under direct authority of the crown. The EIC issues can be further subdivided into two subcategories: the Presidency issues, which comprise separate

, and

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 1901. Her reign of 63 years and 21 ...

(dated 1862–1901),

Edward VII Edward VII (Albert Edward; 9 November 1841 – 6 May 1910) was King of the United Kingdom of Great Britain and Ireland and Emperor of India, from 22 January 1901 until his death in 1910. The second child and eldest son of Queen Victoria an ...

(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. Born duri ...

(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). No British India coins were issued during the brief 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 19 ...

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. Elizabeth was the last of the five House of Tudor monarchs and is sometimes referred to as the "Virgin Queen". El ...

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. George Findlay Shirras (1920). ''Indian Finance and Banking''. MacMillan and Company, London. https://books.google.com/books?id=UvQiAQAAMAAJ 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 Mughal or Moghul may refer to: Related to the Mughal Empire * Mughal Empire of South Asia between the 16th and 19th centuries * Mughal dynasty * Mughal emperors * Mughal people, a social group of Central and South Asia * Mughal architecture * Mug ...

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

emperor Farrukhsiyar on the island of

Bombay Mumbai (, ; also known as Bombay — the official name until 1995) is the capital city of the Indian state of Maharashtra and the ''de facto'' financial centre of India. According to the United Nations, as of 2018, Mumbai is the second- ...

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 powe ...

bearing the frozen regnal year 46. The Surat mint was finally closed down in 1815.Fred Pridmore (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

Even though the British had established a trading post at Fort William (in modern-day

acquired its proper form after the

Battle of Buxar The Battle of Buxar was fought between 22 and 23 October 1764, between the forces under the command of the British East India Company, led by Hector Munro, and the combined armies of Mir Qasim, Nawab of Bengal till 1764; the Nawab of Awadh, Sh ...

in 1764. As an outcome of the Indian defeat, Shuja-ud-Daula of

Oudh The Oudh State (, also Kingdom of Awadh, Kingdom of Oudh, or Awadh State) was a princely state in the Awadh region of North India until its annexation by the British in 1856. The name Oudh, now obsolete, was once the anglicized name of ...

and the

Emperor

signed the Treaty of Allahabad, granting the

rights to collect revenues from large parts of eastern India. Early Bengal Presidency issues were stuck under the name of the

Emperor

Alamgir II Aziz-ud-Din Muhammad (6 June 1699 – 29 November 1759), better known as Alamgir II, was the fifteenth Mughal Emperor of India, who reigned from 3 June 1754 to 29 November 1759. He was the son of Jahandar Shah. Born Aziz-ud-Din, the second s ...

, and later

. The monetary system followed (which was to be an Indian standard till 1 April 1957) was, * 1 pie = pice = anna * 1 pice = anna = rupee * 1 anna = rupee * 15 rupees (approximately) = 1 mohur

Imperial coinage

After the

Indian Rebellion 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 ...

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

to the

British Crown The Crown is the state (polity), state in all its aspects within the jurisprudence of the Commonwealth realms and their subdivisions (such as the Crown Dependencies, British Overseas Territories, overseas territories, Provinces and territorie ...

. 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

George V

The 1911 ''Pig Rupee'' had to be quickly redesigned to insure that Muslims saw the symbol on the king's chest was an order featuring an elephant.

Edward VIII

During the short reign of

, 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 Anna may refer to: People Surname and given name * Anna (name) Mononym * Anna the Prophetess, in the Gospel of Luke * Anna (wife of Artabasdos) (fl. 715–773) * Anna (daughter of Boris I) (9th–10th century) * Anna (Anisia) (fl. 1218 to 1221) ...

( Pice) * Pice *

* Pice (

) *

* 2 Annas * 4 Annas (

Rupee Rupee is the common name for the currencies of India, Mauritius, Nepal, Pakistan, Seychelles, and Sri Lanka, and of former currencies of Afghanistan, Bahrain, Kuwait, Oman, the United Arab Emirates (as the Gulf rupee), British East Africa, B ...

) *

* 8 Annas (

) *

* 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, Kingdom of Nepal, and Persia (chiefly Afghanistan). It was usually ...

) * 10 Rupees (

) * 15 Rupees (

) * 30 Rupees (2

) * British Gold Sovereign, 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.

References

{{Historic Indian currency and coinage Coins of India Government of British India Historical currencies of India Coins of Pakistan