EIC, Bombay Presidency, silver Rupee, Mumbai, AH 1135.

British India, East India Company, Bombay Presidency, Mughal style, silver Rupee, in the name of Muhammad Shah (AH 1131-61/1719-48), Mumbai, AH 11[35], yr 5 [1723-4], sikka mubarak badshah ghazi muhammad shah 11[35] [The auspicious coin of the victorious emperor Muhammad Shah 11[35], rev. zarb munbai sanah 5 julus maimanat manus [Struck at Bombay in the 5th year of tranquil prosperity], differentiating mark 3, 11.50g, 8h (Prid. 37 [Sale, lot 452]; Stevens 2.21; KM. 163). Test mark on reverse, very clear mint, very fine, rare.

Provenance:

Ex Puddester Collection, Part One, Noonans, 8-9 February 2023, Lot 341 (part)

Bombay was given to Charles II as part of a dowry from Catherine of Braganza but before long he leased it to the East India Company. Initially the Company produced its own style of coinage but the silver coins were largely rejected anywhere beyond the immediate area, due to their foreign appearance, making payments problematic. Mughal-style silver coins in the name of Charles II (none of which survive), James II, and William and Mary (all of which are extremely rare) were acceptable to the population but banned by the Emperor Aurangzeb, because they challenged his authority. Pragmatically, the Company sought permission to strike Mughal-Style coins, in the name of the ruling emperor, with the mint name Mumbai, and this was granted in 1717.