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- Spot Silver Price: $32.26
Silver coins were in regular circulation in British India. The values below represent the intrinsic value of silver coins from British India.
British India silver coins that are in uncirculated condition, or that may be rare and collectible may also have numismatic value. You can use this table as a guide when buying and selling circulated silver coins from British India.
The melt values are calculated and displayed in USD based on the today's silver spot price of $32.26 per troy ounce.
| Denomination / Currency | Years Minted | Fineness | Gross Weight (g) | ASW (g) | ASW (oz t) | Melt Value |
|---|---|---|---|---|---|---|
| 2 Annas | 1877- 1917 | .917 | 1.46 | 1.34 | .043 | $1.39 |
| 1/4 Rupee | 1877- 1939 | .917 | 2.92 | 2.68 | .0861 | $2.78 |
| 1/4 Rupee | 1940- 1945 | .500 | 2.92 | 1.46 | .0469 | $1.51 |
| 1/2 Rupee | 1905- 1939 | .917 | 5.83 | 5.35 | .1719 | $5.55 |
| 1/2 Rupee | 1940- 1945 | .500 | 5.83 | 2.92 | .0937 | $3.02 |
| 1 Rupee | 1877- 1939 | .917 | 11.66 | 10.69 | .3438 | $11.09 |
| 1 Rupee | 1939- 1945 | .500 | 11.66 | 5.83 | .1874 | $6.05 |
The British East India Company, established in 1600, began minting coins in India in the early 17th century. Initially, these coins were based on local designs and standards and were used alongside existing Indian currencies. Over time, the Company began to standardize the coinage, particularly in the 18th century.
In 1835, the British East India Company introduced a uniform coinage system across its territories in India. The new silver rupee coin became the standard currency, replacing various regional currencies. This move towards standardization was aimed at easing trade and administration.
The silver rupee weighed 11.66 grams and contained 11.66 grams of 91.7% pure silver. This standard was maintained for several decades.
Following the Indian Rebellion of 1857, the British Crown took over control from the East India Company in 1858. The British Raj continued the use of silver rupees and introduced new denominations and designs to reflect the change in governance.
During Queen Victoria's reign, coins featured her portrait. Subsequent coins featured the reigning monarch, including Edward VII, George V, and George VI.
The economic turmoil caused by World War I led to significant changes in the coinage system. The value of silver rose sharply, leading to the introduction of smaller denominations made from base metals. This period saw a gradual reduction in the silver content of coins.
By 1940, the silver content in the rupee was reduced to 50%. The last silver rupee was minted in 1947, the year India gained independence from British rule.
Silver coins from British India remain a significant part of Indian numismatic history. They are highly valued by collectors for their historical and artistic significance. These coins provide a glimpse into the economic and political landscape of India under British rule.