Khissa Ek Rupaiya Ka – Chandi (The story of One Rupee)-Part 1 of 3

In today's post, I will tell you the story of the smallest currency that is being used in India today - the One Rupee. For ease of understanding, I have split this story into 3 parts: (i) Chandi (when it was first issued as a Silver Coin); (ii) Kaagaz (the Silver Coin was replaced by the One Rupee Note); and (iii) Dhaatu (token one rupee coins made of nickel, cupro-nickel and then ferritic stainless steel).

Chandi - a historical retrospective: The One Rupee Coin was initially made of silver with the portrait of the reigning King/Queen on the Obverse. I have presented a historical restrospective below showing the reigning King/Queen and shared some silver coins from my collection.

In 1717 CE, the East India Company had obtained permission from the Mughal Emperor Farrukhsiyar to mint Mughal Coins. The rupiya was issued by the East India Company from 1717 CE till 1835 CE when the Coinage Act of 1835 introduced uniform coinage and the new One Rupee Silver Coin weighed 11.66 grams (1 tola) with a diameter of 30.55 mm. Between 1835 and 1858 CE, the reverse of the one rupee coin had ‘East India Company’ written with the bust of the British Monarch on the Obverse: King William IIII (1830 to 1837), Queen Victoria (1837 to 1901 CE- Regal issue with India written on Reverse), Edward VII (1901 to 1910), George V (1910 to 1936) and George VI (1936 to 1947 CE). In the British Era (subsequent to the East India Company) which lasted from 1858 CE till India’s Independence in 1947, ‘East India Company’ written on the reverse of the one rupee coin was replaced with ‘India’.

The first One Rupee Silver coin (weight 11.66 grams Calcutta Mint issued by East India Company) had the portrait of King William IIII (on the Obverse), who was King from 26.06.1830 till his death on 20.06.1837.

King William IIII Obverse	From 26.06.1830 to 20.06.1837 Reverse

 As King William IIII did not have any surviving legitimate children when he died, he was succeeded by his niece Queen Victoria (who was then only 18 years old), who remained Queen from 20.06.1837 till her death on 22.01.1901. She was the first sovereign to reside at Buckingham Palace, London. Her reign of 63 years and seven months was known as the Victorian Era and was marked by great expansion of the British Empire. After the First War of Independence in 1857 , the British East India Company which was ruling India was dissolved and the Indian subcontinent became part of the British Empire. By a proclamation by Queen Victoria on November 1, 1858 Charles John Canning or Viscount Canning, the Governor General of India (28.02.1856 till 21.03.1862) was appointed as the first Viceroy of India to govern in her name, with the transfer of power from the East India Company to the Crown. Queen Victoria assumed the title of Empress of India on 01.05.1876.

Queen Victoria	From 20.06.1837 to 22.01.1901

At this point, let me tell you the story of the Victoria Cross (VC), named after Queen Victoria, which is till date the highest award for bravery in UK. It was introduced on January 29,1856 (backdated to 1854) to reward acts of valour during the Crimean War (October 1853 to February 1856) in which Russia lost to an alliance of the Ottoman Empire, France, UK and Sardinia. The Crimean War is remembered for the failed military action of the British Light Cavalry during the Battle of Balaclava (25.10.1854) made famous by the poem written by Alfred Lord Tennyson (1854) called “The Charge of the Light Brigade” as well as Florence Nightingale, the Lady with the Lamp for nursing the wounded soldiers. The first awards were presented on June 26, 1857 at a ceremony held at Hyde Park, London in which Queen Victoria personally invested 62 of the 111 recipients for the Crimean War. Victoria Cross is a bronze cross with the crown of Saint Edward surmounted by a lion and inscribed “For Valour”. The reverse of the suspension bar has the name/rank/number/ unit of the recipient and the circular panel has the date of the act for which the medal is awarded. It weighs 27 grams and the ribbon is crimson in colour. In November, 2009 reportedly GBP 1.5 million was paid to acquire a Victoria Cross, such is its value. Since 2015, an annuity of GBP 10,000 per year is paid by the British Government to the recipient. After Independence, India has replaced it with the Param Vir Chakra (PVC).

 

    Victoria Cross Obverse and Reverse, ‘The Charge of the Light Brigade’ and Florence Nightingale (image credit: wikipedia)

Queen Victoria was succeeded by her eldest son King Edward VII (from 22.01.1901 till his death on 06.05.1910).

King Edward VII	22.01.1901 to 06.05.1910

He was followed by his son King George V (from 06.05.1910 till his death on 20.01.1936). King George V and Queen Mary were presented as the Emperor and Empress of India at the Delhi Durbar on December 12,1911 and the King wore the newly created Imperial Crown of India, which is presently at the Tower of London, along with the other crown jewels. At the Delhi Durbar, the King declared the shifting of the Indian Capital from Calcutta to Delhi. He also travelled throughout the Indian sub-continent and shot 21 tigers, 8 rhinoceros and a bear over 10 days.

King George V	06.05.1910 to 20.01.1936
Coronation Medal King George V & Queen Mary, Emperor & Empress of India	12.12.1911

King George V was succeeded by his son King Edward VIII (from 20.01.1936 till 11.12.1936) when he abdicated the throne to marry Willis Simpson. His reign was of only 326 days and he died in 1972 (no coins were issued during his short reign).

King Edward VIII was succeeded by his younger brother King George VI, who was King from 11.12.1936 till his death on 06.02.1952. King George VI relinquished the title of Emperor of India in June 1948 and adopted the new title of Head of the Commonwealth. Due to shortage of silver, the 0.917 silver one rupee coin was replaced in 1940 by the Quaternary silver alloy (0.500) and in 1947, the silver one rupee coin was replaced with nickel coins. During World War II (1939-45), Silver Medals were issued with the portrait of King George VI on the Obverse.

King George VI	11.12.1936 to 06.02.1952
1939 (0.917) 1940(0.500) Silver
King George VI	World War II Medals

King George VI was succeeded by his daughter Queen Elizabeth II, who is currently the Queen from 06.02.1952 onwards.

During World War I (1914-18), as silver became scarce and the price increased substantially, the silver one rupee coin was replaced by the One Rupee Note on November 30, 1917 with a photo of the prevalent silver coin having the portrait of King George V on the Obverse left corner. It promised the value of a one rupee silver coin (which was printed on the reverse of the note) and was a token currency.

It is interesting how the coins issued during a particular era inform us about the social, cultural and economic aspects about life during that era and to begin with, the importance of the monarch. In the following sections, it will be an informative exercise for each one of us to try and glean this information from the motifs and drawings on the different One Rupee Notes and Coins issued in India (to be continued in Part 2- Kaagaz).

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 © Sushil Kumar Mishra 2020