Primitive Money in India

                              Marudhar Arts

Long Before Credit cards, cheques and paper currency came into existence, with the advent of civilization, man felt the need after the invention of fire and the wheel that there had to be a universal form of currency that had to be exchanged between the buyer and the seller which endorsed trade and commerce. The sense of possession one developed before trading the commodity and who gave the prerogative of ownership is not very lucid, but these exchanges eventually led to an acceptable form of prevalence which was deemed fine to all the parties concerned, be it the buyer or the seller or the intermediary involved. There were different kinds of commodities that were exchanged which often resulted in acrimony amidst the concerned parties sometimes, with one party feeling more often than not, he/she has been hoodwinked and swindled.

TYPES OF PRIMITIVE MONEYANIMAL BEADS

a)Copper Bead - Primitive Money - Depicted here are two heads of a bull joined in unison along with a hole for suspension, A Sacrosanct Shaivite relic of art of an archaic period from the river bed of Purna River near Achalapur.
b)Metal Beads of Makara Shape with suspension hole (600 bc) - Primarily used as an adornment/embellishment and perhaps used for barter as primitive money.
c)Animal Bone Bead - A Bone bead of animal insignia perhaps used for barter purposes as primitive money.
Apart from these there are also primitive animal beads in the forms of birds, tortoises and various other forms

STONE BEADS

a)Primitive Money - A Stone bead with double portrait with a suspension hole, made somewhere around 600 BC.Used as an embellishment and adorment,could be perhaps used as primitive money.

COPPER BEAD

a)Various shapes and sizes  of copper beads are extracted from the riverbed of Purna River near Achalpur
Weight - 1.3 gram * 2 no's , 0.75 gram , 6.30 gram
Dimension - 10.08 * 5.66 mm, 10.15 * 4.90 mm , 14.82 mm * 6.64 mm, 18.80 * 7.83 mm,In Impeccable condition and very fine quality.

                                                           TERRACOTA
a) Primitive Money, Post Gupta Sealing - 600 AD ,Gupta Brahmi Legend in the Center in an oval reading ,Jayakula
Weight : 2.05 grams
Dimension :  22. 52 mm
Immaculate Condition, extremely fine condition and very scarce/rare.

CAST BEAD

a)Primitive Money,Makara Bead - Made of soft stone from Ujjaini region around 600 BC
Obverse of the Bead : Profiled Bust facing with circular symbols
Reverse : Circular Symbols
Used as an embellishment/adornment. Perhaps also used for primitive money
Net Weight : 3.4 gram
Dimensions : 22.51 gram
Flawless Condition and Extremely Rare.

By Analyzing and Scrutinizing these opulent specimens of our rich heritage we can only marvel at the dexterity of the craftsmanship and the detailing that has gone through in making each one of them. It also shows the perception of people at that point of time and on what lines they were thinking. These memorable artefacts were also not clearly polished and that can be conspicuous from their rough edges and crude silhouette.

Marudhar Arts is conducting an exclusive auction where Beads of the primitive money are manifested for the exclusive perusal of our esteemed patrons.

To Know More About Primitive Indian Money and their respective beeds,please liaise with us on 080-65329800/mail us at director@marudhararts.com

British India Coins

                        Marudhar Arts

British trading posts in India were first established by the East India Company (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 (1640) in the south, Surat (1612) in the west, and modern-day Kolkata (1698–99) in the east. These colonies gave rise to Madras Presidency, Bombay Presidency, and Bengal Presidency, and each Presidency had a separate coinage and monetary system. In 1835, the EIC adopted a unified system of coinage throughout all British possessions in India and the older Presidency system was discontinued.

Coinage issued after 1857 were under the authority of monarch as India became part of the British Empire. 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:
East India Company (EIC) Prior to 1858
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 Madras Presidency, Bombay Presidency, and Bengal Presidency issues
 Imperial issues bear obverse portraits of Queen Victoria (dated 1862–1901), Edward VII (dated 1903–1910), George V (dated 1911–1936), and George VI (dated 1938–1947)



EAST INDIA COINS

The English East India Company was granted a royal charter by Queen Elizabeth I 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. 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 on the island of Bombay.

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 to 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.

Coins of the following denominations were issued:
• 1/12 Anna
• 1/2 Pice
• 1/4 Anna

• 1/2 Anna
• Anna
• 2 Annas
• 1/4 Rupee
• 4 Annas
• 8 Annas
• 1/2 Rupee
• One Rupee
• 5 Rupees (1/3 Mohur)
• 10 Rupees (2/3 Mohur)
• 15 Rupees (Mohur)
• 30 Rupees (2 Mohur)
• British Gold Sovereign, as an emergency war issue, in 1918.

There are many rare coins of this period which interests the 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 the world war. 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 was circulated in India.
Marudhar Arts is Hosting An Exclusive Coin Auctions at www.marudhararts.com 
We have a vast repertoire of exotic and rare British India coins that are featured on the website and are in our possession. To know more about these cisterns of opulent legacies, please visit our website www.marudhararts.com or call us at 080-65329800.

Advantage of Collecting Coins & Stamps

                              Marudhar Arts

Coin collecting is one of the oldest hobbies, once practiced mostly by kings and the wealthy. Coin collecting thus came to be called the “king of hobbies” and the “hobby of kings.”

For anyone who is younger, it is a good idea to collect silver specifically because it is an opportunity to capitalize on an expanding market. With the price of silver down, it is a good time to buy and for beginners to begin investing in the hobby of coin collecting.

Others collect based on nostalgia related to events surrounding the date of a coin; still, others choose to collect commemorative coins.

In addition to potential financial or investment benefits instinctive predilection the most common reasons people collect coins include:

• Knowledge and learning
• Relaxation and stress reduction
• Personal pleasure (including appreciation of beauty, and pride of ownership)
• Social interaction with fellow collectors and others (i.e. the sharing of pleasure and knowledge)
• Competitive challenge
• Recognition by fellow collectors and perhaps even non-collectors
• Altruism (since many great collections are ultimately donated to museums and learning institutions)
• The desire to control, possess and bring order to a small (or even a massive) part of the world
• Nostalgia and/or a connection to history
• Accumulation and diversification of wealth (which can ultimately provide a measure of security and freedom)
   
                  MOTIVATION FOR COIN COLLECTORS/TYPES OF COLLECTORS

The motivations for collecting are varied. Possibly the most common type of collector is the hobbyist, who amasses a collection purely for fun with no real expectation of profit. This is especially true of casual collectors and children who collect items on the basis of chance and personal interest.
Another frequent reason for purchasing coins is as an investment. As with stamps, precious metals or other commodities, coin prices are cyclical based on supply and demand. Prices drop for coins that are not in long-term demand, and increase along with a coin's perceived or intrinsic value. Investors buy with the expectation that the value of their purchase will increase over the long term.
Coin hoarders may be similar to investors in the sense that they accumulate coins for potential long-term profit. However, unlike investors, they typically do not take into account aesthetic considerations; rather they gather whatever quantity of coins they can and hold them. This is most common with coins whose metal value exceeds their spending value

Speculators, be they amateurs or commercial buyers, generally purchase coins in bulk and often act with the expectation of short-term profit. They may wish to take advantage of a spike in demand for a particular coin
A final type of collector is the inheritor, an accidental collector who acquires coins (a collection, hoard or investment) from another person as part of an inheritance. The inheritor may not necessarily have an interest in or know anything about numismatics at the time of the acquisition.
Marudhar Arts Invite all Budding Numismatists/Aficionados to have a look at their exclusive collection including some rare and exotic coins of the erstwhile era by visiting their website www.marudhararts.com.

For more information on how to collect these opulent cisterns of our heritage, one can liaise with us on 080-65329800/info@marudhararts.com