Spink USA
Auction 382 15 Jan 2023
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NGC XF40 | East India Company, Madras Presidency, in the name of the Mughal Alamgir II (1807-1817), 'Year Two' Double Rupee, AH 1172/2, Arkat, struck over a Spanish 8-Reales, edge obliquely milled, 24.05g, 12h (KM 404.1; Pridmore 245), light tone in recesses obscuring brighter appearance, a trace of clashed dies at centres, otherwise a pleasing very fine, very rare, especially as a 'Year Two' issue, in NGC holder, graded XF40 (Cert. #6381652-021).
On July 15, 1807 a Proclamation authorized a full range of silver coins, including this new denomination, a double rupee, to be struck for the Madras Presidency. All coins were to be made from silver obtained from imported Spanish dollars. Some original lettering and design elements from the Spanish host coins can be seen below the overstrike on many of this type. Dies for the smaller denominations were prepared at the Calcutta Mint, but the dies for the double rupees were made at Madras. The coins circulated alongside the pagoda standard pieces, which were struck until 1812. Both pagoda and Arcot rupee coinages were replaced by a new rupee standard in 1817.
Estimate: $3000 - $4000
On July 15, 1807 a Proclamation authorized a full range of silver coins, including this new denomination, a double rupee, to be struck for the Madras Presidency. All coins were to be made from silver obtained from imported Spanish dollars. Some original lettering and design elements from the Spanish host coins can be seen below the overstrike on many of this type. Dies for the smaller denominations were prepared at the Calcutta Mint, but the dies for the double rupees were made at Madras. The coins circulated alongside the pagoda standard pieces, which were struck until 1812. Both pagoda and Arcot rupee coinages were replaced by a new rupee standard in 1817.
Estimate: $3000 - $4000