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Lot No - 1 - East India Company
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| Bengal Presidency, Copper 1/8 (Falus), 18.3mm, Princep's Coinage, (1780-1784 AD Issue), Pulta Mint, INO Shah Alam II, AH 1195 / 22 RY, Machine struck issue. P.Stevens (Page 36) 3.25 / F. Prid 198. NGC graded MS 63 BN. Rare. (Only 2 coins graded higher by NGC and none by PCGS in this category till 1/03/2025). This coin has an interesting history. It was minted by John Princep who came to Bombay as a cadet in the East India Company army. On his retirement from the army in 1780, he discovered copper mines in Bihar and secured a contract from the Bengal government to mint a new copper coinage for the Bengal Presidency. He established India's first mechanised mint in Fulta, 22 kms south of Calcutta, introduced many new techniques and equipment, and struck high quality machine made coins in four denominations: half, quarter, eighth and sixteenth anna. However, the EIC directors in London disagreed with this decision and ordered the cancellation of the contract, but their instructions reached India 12 days too late, and Princep (who had probably been intimated earlier of the EIC's decision to terminate) exercised his option rights to extend the contract by 27 years beyond the first three years. Eventually, in 1785 Princep was able to extort a huge settlement from the Company to terminate the contract. Princep's coins were minted for about four years only (1780-4) before the mint was surrendered to the EIC. |
Estimated Price
Rs. 14,000-15,000 |
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