NGC MS61 | EIC, Bombay Presidency, silver Rupee, Mumbai, AH 1147.

India, British India, East India Company, Bombay Presidency, Mughal-style silver Rupee in the name of Muhammad Shah (AH 1131-61/1719-48), Mumbai, AH 114[7], yr 17 [1735-6], sikka mubarak badshah ghazi muhammad shah 114[7] [The auspicious coin of the victorious emperor Muhammad Shah 114[7], rev. zarb munbai sanah 17 julus maimanat manus [Struck at Bombay in the 17th year of tranquil prosperity], differentiating mark 8, 11.55g, 9h (Prid. 48 [not in Sale]; Stevens 2.38; KM. 163). Minor deposit on edge, otherwise extremely fine with mint bloom. NGC MS61.

NGC Certification 6381621-014

Provenance:

Ex Puddester Collection, Part One, Noonans, 8-9 February 2023, Lot 346

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.