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Coins of British India
British trading posts in India were first established by the East India Company (EIC) early in the seventeenth century, which quickly evolved into larger colonies covering a significant part of the subcontinent. Early settlements or factories included Masulipatnam (1611) and Madras (1640) in the south, Surat (1612) in the west, and modern-day Kolkata (1698–99) in the east.〔Gupta, P. L. (1996). ''Coins'', New Delhi: National Book Trust, ISBN 81-237-1887-X, pp.199–219.〕〔 These colonies gave rise to Madras Presidency, Bombay Presidency, and Bengal Presidency, and each Presidency had a separate coinage and monetary system. In 1835, the EIC adopted a unified system of coinage throughout all British possessions in India and the older Presidency system was discontinued. After the Indian Rebellion of 1857, control of EIC territories passed to the British Crown.〔Fred Pridmore (1980). ''The Coins of the British Commonwealth of Nations (to the end of the reign of George VI, 1952). Part 4: India, Volume 2: Uniform coinage East India Company, 1835–58, Imperial period, 1858–1947.'' Spink and Son Ltd, London.〕 Coinage issued after 1857 were under the authority of monarch as India became part of the British Empire. There was a transition period after India gained independence on 15 August 1947, and the first set of republic India coins were issued in 1950.
Coinage under the British can be divided into two periods: East India Company (EIC) issues, pre-1858; and Imperial issues struck under direct authority of the crown. The EIC issues can be further subdivided into two subcategories: the Presidency issues, which comprise separate Madras Presidency, Bombay Presidency, and Bengal Presidency issues; and uniform coinage for all British territories from 1835 to 1858. Imperial issues bear obverse portraits of Queen Victoria (dated 1862–1901), Edward VII (dated 1903–1910), George V (dated 1911–1936), and George VI (dated 1938–1947). No British India coins were issued during the brief reign of Edward VIII.
==East India Company==
The English East India Company was granted a royal charter by Queen Elizabeth I which allowed trade monopoly with eastern countries including Sumatra, Java, and India. The territories governed by the East India Company were divided into three major administrative regions: Madras Presidency in the south, Bombay Presidency in the west, and Bengal Presidency in the east. Most of the north, however, for a long time continued to remain under the control of the Mughal emperor, and later, local rulers including the Marathas and Rajputs. Each of the three presidencies under East India Company governance issued their own coins until a unified coinage throughout all territories was introduced in 1835.〔G. Findlay Shirras (1920). ''Indian Finance and Banking''. MacMillan and Company, London. http://books.google.com/books?id=UvQiAQAAMAAJ〕 Early presidency issues often imitated local issues and the Mughal design in order to gain wider acceptance by the native population.
Early European style coins were not popular outside jurisdiction of their respective settlements. In spite of having their own mints, the EIC either sent its bullion to the Mughal mints or forged the common coins of the contemporary Mughal Emperor. In 1717, the EIC obtained rights to strike coins in the name of the Mughal emperor Farrukhsiyar on the island of Bombay.
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