Saturday, January 28, 2012

Uniform Coinage of India - Sterling Silver Coins


Prior to 1835 A.D., the East India Company issued coins in Bengal Presidency, Bombay Presidency and Madras Presidency. These coins were circulated in local area for use in the local trade.

For any particular value, the coins circulated in different areas of India were of different weight, fineness and size. In order to remove this chaotic condition, East India Company decided to introduce a uniform coinage in the territories of the company.

All the details of the new coinage were laid down by Act XVIII of 1835. As per this act the weight of the rupee coin was standardized at 180 grains troy (1 Tola) and its fineness at 11/12 (i.e. 165 grains of pure silver and 15 grains of alloy). The rupee coin would bear the effigy of the then king of United Kingdom.

Standard Silver Rupee:

Specifications

Weight- 180 grains

Metal composition- 165 grains of pure silver and 15 grains of alloy

Diameter – 1.3”

Shape - Circular

Edge – milled

Obv - effigy of the then king or queen of United Kingdom

Rev – Value of the coin - LOTS!

Uniform Coinage of India - Sterling Silver Coins