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Lot No.505
AUC24
East India Company P S Collection
Auction Date: 10-04-2016
Copper
Bombay Presidency, Copper Pice, Bombay Mint, date off flan (but struck in 1773), 4.96g. Obv: 'Bale Mark' of the company. Rev: 4-line inscription 'I / Pice / Bomb / 1773' partly visible.
Very Fine, Very Rare.
In 1773 an attempt was made by the EIC to vary its exchange rate for the tin pice from 80 to 100 to the silver rupee. On 5 October 1773 complaints resulting from this attempt led to the decision that the tin issues should be abandoned and a new copper pice produced. The new coins were declared legal tender from 1 November 1773 at the rate of 100 to the Rupee. As such, this pice is probably the earliest example of decimalised currency instituted in India.
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Estimated Price :
Rs. 7,000-8,000
Sold For :
Rs. 7,000
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