Gandhioriginally drafted 0. Revision 0. 8/1. 4/2.
This information was cited from a number of sources: Vikram Deshmukh, Major Fred Pridmore: The Coins of the British Commonwealth of Nations, Dick H. Leavens (Rupee Circulation in India, The American Economic Review, Vol. Mar., 1. 94. 1) pages 8. Stephen A. Corvin, Yashoda Singh, Krause Publications, NGC, PCGS, silver- investor.
Wikipedia, and Google. PM EST*I had written this a little over four years ago from the date/time stamp above. Since then technology has changed, now I can make this post more picture friendly, and display it in a way that is a bit easier to read as well. Some corrections to the post have been made, I added some thoughts here and there as well. Most of what was originally written when this was posted remains intact and I will continue to update the posting as well. I also no longer have a financial position within this coin either, thanks for reading my coin conjecture, enjoy, and please feel free to leave comments.
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ONE. RUPEE. I N D I A.~1. There are many stories surrounding the 1. India One Rupee coin, and nobody knows what to believe including myself.
Some stories have been made up with a mixture of slight truths, and half- truths. I have gathered facts, fallacies, supporting data, and my own arguments to provide a clearer picture of what probably is closer to the truth for this dated coin. I believed many of these “facts/stories” at some point in time because it’s all I could find. But slowly these so called “facts” didn’t make sense to me.
Nobody (including myself) took the time to do a comprehensive work for this specific date, and the same false/innocent ignorant stories have been circulating for many years. Maybe some have known these facts, but never shared their thoughts with anyone but a few. Maybe free range chickens prefer a 4.
Burrito at Chipotle Mexican Grill. A majority of the following data has been available since 1. Pridmore scattered like a puzzle in his works for an individual to draw his/her own conclusions. Here are some fallacies I want to dispel immediately, but read on to get a clearer picture- 1. India Rupee Reverse.
Fallacy: The 1. 93. One Rupee dated coins were minted in 1. Argument: How is this possible if the finished Type II (Large Head or Low Relief) Obverse dies were not delivered to India from Great Britain until late 1. Fact: The 1. 93. 8 One Rupee dated coins were struck in 1. Fallacy: The 1. 93. One Rupee dated coins were minted in 1.
Argument: How is this possible if the 1. One Rupee dated coins were the first to be struck in late 1. January 1. 94. 0? Fact: The Rupee coin was approved for standard circulation beginning January 1. British Government. The 1. 93. 8 One Rupee dated coins were the first to be struck in 1.
One Rupee dated coins were struck thereafter. Fallacy: India’s silver shortage of 1. September prices spiked by 1.
One Rupee dated coin(s). Argument: How is this possible if the 1. One Rupee dated coins were minted in 1. One Rupee dated coins, and again the 1. One Rupee dated coins were minted before the 1. One Rupee dated coins in 1.
Fallacy: There were 2. One Rupee dated coins struck for circulation- Argument: If the above is true then where are all the coins today? Hoarded? Fact: The mintage was a “planned” or “proposed” mintage by the Bombay Mint which was common practice for many years. Fallacy: The British government went to people’s homes to collect the 1.
One Rupee dated coins in ~1. Argument: Again. How is this possible if these coins were minted sometime in 1.
Fact: 1. 93. 8 One Rupee dated coins were not “officially” released for standard circulation until January 1. Second Head used for the India 1. Rupee. The British Government stopped minting the 1. One Rupee dated coin in 1.
One Rupee coin for circulation until 1. British Government. Meaning that the British Government had not resumed production until January 1. One Rupee dated coins were minted/released. The only reason new coinage resumed in 1. India from World War II. The majority of the 1.
One Rupee dated issue was minted in the year 1. Major Fred Pridmore.
It was not possible to strike the 1. One Rupee dated coin with the Type II obverse any sooner than late 1.
I believe the 1. 93. One Rupee dated coin mintage was issued in its entirety, but not true for the 1. One Rupee dated coins. Consider some of the following data which may be above as well: *Type I = First Head or High Relief obverse*TYPE I First Head. Type I obverse dies were only used for Specimen/Proof/Restrike/Presentation issues for the 1. One Rupee dated coin(s), and these dies were never used for the circulation Rupee strikes. These dies were sent to India in July 1.
Type II = Second Head or Low Relief obverse*TYPE II Second Head. Only Type II Obverse dies were used for the 1. One Rupee dated circulation coin(s), work commenced for the new dies in August 1. The Type II obverse dies were not delivered to India until late 1. England because they had to be reworked. Possibly some of the 1. One Rupee mintage was struck after these dies were delivered late in 1.
January 1. 94. 0. Earlier I mentioned “planned” or “proposed” mintages. Let’s look at the following mintages: 1. Bombay One Anna 2. Calcutta 1/2 Pice 1.
Bombay One Rupee 4,3. Calcutta One Rupee 5,1. The 1. 90. 6 One Anna and 1. Pice were never minted for circulation, and may be found in proof/restrike/pattern issues only. Meaning the mintage was “planned” or “proposed”. Why wasn’t the 1.
Pice or 1. 90. 6 One Anna struck for circulation? Answer: Maybe we should ask the chickens on the free range? We do know that everyone that was alive in 1.
One Rupee dated coin is dead. Anyways, it’s purported that 7.
The Bombay Mint and Calcutta Mint started producing the 1. One Rupee dated coins in July, and the coins were delivered to both Calcutta and Bombay banks in the meantime for distribution before December 1. My point is that in a period of 5 months the mints minted at least 7. Both mints started production 5 months ahead of the official public circulation/release. Now this implies that 1. One Rupee dated coins were going to be minted well into 1. Hence the above mintages would be “planned” or “proposed” for both 1.
B and 1. 91. 1 C coin equalling roughly 9. January 2. 3rd 1. One Rupee dated coins were officially withdrawn from circulation as ordered by the British Government because of a merchant mutiny against the newly minted coins, and those rumors were spread by the merchants themselves. However, that’s another story for another time, and 1. One Rupee dated coins are somewhat readily available in present day. People probably did save these coins as souvenirs because this was the first year of a new design, supposedly controversial, and they may of started hoarding what was being withdrawn.
It’s easier to want something more when someone wants to take it away from you. Could this have changed in any year? Absolutely! The British government had not minted a circulation One Rupee coin for almost 1. One Rupee dated coin was the first of many in the series. I believe the entire mintage was minted for the 1.
One Rupee dated coin, and the Bombay Mint transitioned into the 1. One Rupee dated coin briefly. This 1. 93. 8 One Rupee dated coin was also a “first year type issue”, and there was probably some novelty associated with keeping one or two coins as a memento.
Many of these coins landed into the hands of hoarders, jewelers/bazaars, Choksi(s) (assayer of gold and silver), neighboring countries, use your imagination please I’m using mine, and some of them never made it back to the Reserve Bank of India. A majority of the 1. One Rupee dated coins were probably melted/withdrawn from circulation before the official news announcement was made at the end of 1.
One Rupee silver coinage to . India Rupee Reverse close up. Remember what the people in 1. Which does sort of explain why so many of them are available today, and even the window of opportunity to hoard the 1. One Rupee dated coin was much greater than the 1.
One Rupee dated coins. The Reserve Bank of India planned to go “off” the .
Quaternary Alloy” (. Rupee dated coin as its first step. British India Quaternary Alloy Composition: 5. Silver, 4. 0% Copper, 5% Nickel, and 5% Zinc.
Here are the “official” or “planned” silver fineness reduction dates : March 1. Rupee fineness reduction. July 2. 4th 1. 94. Rupee fineness reduction. December 2. 0th 1. One Rupee fineness reduction.
Citizens of India preferred a hard asset as opposed to paper money hence the hoarding of silver for many years. People had little faith in “paper”, and it was just paper in the minds of the standard citizen. The average Desi wanted tangible silver in hand, and the government acted in late June of 1. Dickson H. Leavens: “A rule was made by the British Government under the Defense of India act making it an offense for any person to acquire coins in excess of his personal or business requirements and providing that in cases of doubt the judgment of the Reserve Bank or it’s duly appointed agents as to what constitutes the reasonable requirements of one individual should be conclusive.”Soon followed an ordinance passed in July 1. The law provided that these should be treated by the Reserve Bank in its account exactly as if they were One Rupee coins. Between the dates of March 3.
July 2. 6th 1. 94. Reserve bank’s statement showed an increase of 9. Rupee coin. But more than likely these were One Rupee notes dated 1. Dick H. Leavens noted in his work titled “Rupee Circulation in India.” Also these 1. One Rupee paper currency notes were probably injected into circulation well before the “official” ordinance was passed in July as listed above. I don’t believe the actual 1. One Rupee coinage mintage is accurately reflected in Krause because of the currency issue is part of the mintage which skews the data.
India One Rupee Currency. At some point in time during the month of July 1.
One Rupee dated coin mintage was completed, and the Bombay mint started striking the 1.