1835 TWO MOHURS or 1835 “DOUBLE” MOHUR GOLD COIN

 

*This was originally written on April 12th 2012, one of my first postings, and unmodified with the exception of the pictures are a bit different. Thanks for reading my writing. Enjoy.

Sincerely,

Sanjay

 

Two surviving business strikes are known to exist from the original mintage of this coin/treasury Gold, and perhaps an “Ex-Jewelry” example that was sold was an impaired “Restrike Proof” made to look like a business strike. Was this “Ex-Jewelry” coin an impaired Restrike Proof or an original business strike? That’s the million dollar question. But certainly two are known to exist from the original striking mint issue.

The “Lion” design on the “Reverse” of this Gold was initially rejected by the Governor-General in Council during the mid Fall season of 1835. Almost one month later the Governor-General approved the “Reverse Lion” design to continue the die preparation(s) so the “One Mohur”, and “Two Mohurs/Gold Coinage” would not be delayed any further. What we can deduce from a number of sources is that the Calcutta mint minted roughly 1,000-1,174 “Double Mohurs” coinage in 1835/6. This coin/treasury Gold was never intended for circulation, and was mainly exchanged for silver by Merchants.

 

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1835 Two Mohurs Proof Restrike Reverse
1835 Double Mohur Proof Restrike Reverse

Trading rights to set up a port in Calcutta were granted to the East India Company (EIC) back in 1690 by Abul Muzaffar Muhy-ud-Din Muhammad Aurangzed Alamgir : one of SHAH JAHAN’S sons who imprisoned him, and forcefully took over the Mughal Empire’s Reign. This son is better known as “Aurangzeb”….which means “honoring the throne”. I beg to differ with that title bestowed upon him at a young age, and so would Shah Jahan from his grave. 145 years later The East India Company’s plan to establish a rate of exchange between silver and gold financially failed.

The EIC wanted to sort of be in the “Assay” business to probably play a game of “arbitrage” between the two precious metals. But, the EIC didn’t properly value/calculate the Gold/Silver ratio, and discounted that most Merchants preferred Silver for trade. Those Merchants were doing healthy business with the Chinese, and China is geographically located right around the corner from Calcutta. The Empire of China had massive silver reserves at the time, and gave it all back to the world’s biggest drug/opium cartel : The Ea$t India Company.

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1835 Double Mohur Proof Restrike Obverse
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1835 Double Mohur Restrike Obverse

Essentially the Calcutta mint ended up with a boatload of Gold within the treasuries, and exchanged large amounts of Silver to the Mercantile trade. This leads me to believe Merchants were trading in gold to the EIC, and receiving Silver at a discount unbeknownst to the East India Company. But that topic needs to be further researched, and I speculate that the Merchants arbitraged the East India Company with Gold.

In any case, these scenarios bring me 1000 fold pleasure when so called “small money” armed with knowledge outwits “BIG MONEY” carrying very little knowledge, and arsenals of arrogance. The “Merchants” were a 5′ 7″ 208 lb MAURICE JONES-DREW from the NFL (National Football League), and the “EIC” a 6’4″ 250 lb Linebacker in the same game. Meaning the Linebacker has no chance from the beginning against the smaller player.

Anyways, the result of this endeavor was: rapid financial loss for this particular pecuniary…Making money makes you lose money sometimes even if you are the one making the money. In 1836 the British Government bought all the Gold reserves from the EIC Mint so this untimely venture did not continue losing money. More than likely most of this mintage was melted with the rest of the treasury gold that was stockpiled for a few months.

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1835 Double Mohur Proof Restrike Obverse
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1835 Double Mohur Proof Restrike Obverse
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1835 Double Mohur Proof Restrike Obverse

The Government continued the practice of “Restriking” this coin for many years because of growing collector demand, and sometimes offered the coin as a presentation piece. Minting of all East India and British India “Restrikes” ceased in 1970 at the Bombay Mint because of political pressures primarily by the Australian Government, and so the dies were destroyed in 1971/72. These 1835 TWO MOHURS coins are all “Restrikes”, and there are examples graded by NGC and PCGS as “PR” or “PF” designated as “Proof”. But this coin should never receive a grade of “Proof”, and only a “PL” or “Proof Like” grade should be assigned to any of these Two Mohurs. Also, there is no expert that can pinpoint any specific year this coin was struck as a “Proof” nor are there any concrete mint records that translate into an actual “Proof” which we can witness. The “Restriking” mintage is a mystery nobody will ever solve without concrete mint records.

These coins should all carry a grade of “PL” or “Prooflike” as mentioned before. There is another theory : the lesser the number of hairlines on the surface the earlier the striking comes to mind. There is one problem with this theory : what if there were multiple dies polished at different times? What an expert can guesstimate is when a particular coin may have been restruck : was it an “Early Restiking” or “Mid Restriking” or “Later Restriking” due to the characteristics of the coin. To date there has not been an 1835 Two Mohurs “Original Proof” or “Early Restrike” that has been recorded to my knowledge, and even if an “Original Proof” were to surface it’s probably a RESTRIKE!

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1835 Double Mohur Proof Restrike Reverse

 

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1835 Double Mohur Proof Restrike Reverse

1835 Two Mohurs Gold Proof Restrike

*This information was cited from a number of sources:

Fred Pridmore: The Coins of the British Commonwealth of Nations, Krause, Vikram Deshmukh, Myself, NGC, PCGS, COIN PRICES MARCH 2011, Wikipedia, and Google.

SIZE : 32.5 MM
TYPE : RESTRIKE
MINT : CALCUTTA
POPULARITY : HIGH
WEIGHT : 23.32 GRAMS
METAL : 91.7% GOLD AND 8.3% COPPER

LAST PRICE PAID FOR THIS COIN “RAW” OR “UNGRADED” ON FEBRUARY 18th 2012 : $28,000+ as listed below

LAST AUCTION THIS COIN CROSSED : http://www.thehindu.com/news/cities/bangalore/article2910682.ece?homepage=true

Thanks,

Sanjay C. Gandhi

 

 

1911 ONE LITTLE TWO LITTLE PIGGIES THREE LITTLE FOUR LITTLE NONE INDIA

*Originally drafted October 20th 2013 12:20 AM, and I have not revised this copy as of the time stamp above. Thanks for reading my thoughts.

Enjoy-

Sincerely,

Sanjay

 

So lets talk about this “Pig” thing. Some dudes in 1911 who had nothing to do back in market/bazaar/shop/store caused all this “Pig” mayhem back in December 1911. because somebody really couldn’t see the trunk of the “Elephant” we have a few “Type” coins today in the George the 5th series. The 1911 coins are/were supposedly withdrawn, recalled, recoined, melted, non-distributed, and blah blah blah blah blah…

*I did not add the 1/4 Anna to this story, because I have inconclusive data

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1911 INDIA OBVERSE

Is there really a “Pig” on this series of this Inaugural coinage? If one were to view the animal on George’s robe with an eyeglass or loupe, one would clearly see his trunk, and even see the elephant without the magnifier. Actually, I can see the trunk of the elephant mixed in with the chain links, and the elephants “trunk” is extremely pronounced. How about back in 1911? Did the average Joe/Johann/Joyti/Joginder use a magnifier to see the trunk of an elephant? No? Ok. Maybe one of the Jo’s had an eyeglass, but the person who spread this story surely did not I speculate.

But that’s what I get paid to do currently : Speculate- Am I getting paid to write all of the below, and the above: Hell No! But I enjoy it, and it makes me think. Anyways, so if the gals/guys eyes are bad they can see whatever the hell they want to see, and he/she could perceive whatever his/her dear heart desires. The “trunk” isn’t that big, throw in some bad light, and one could see almost anything you wanted on the One Rupee coin after the contagious spreading rumor.

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George V Rupee Obverse

700,000 Rupees were distributed from December 12th 1911 to January 23rd 1912, and then the “famed” withdrawal/recall went into effect. Did the government actually go out, and seek this 1911 Rupee coin? Probably not. It’s all the matter of perception, and showing the people they (The Government) are making an effort to satiate the bull$hit that was going on at the time.

So if only part of the mintage was made for the Rupee, wouldn’t it make sense that the fractionals also were minted/released in a similar fashion? The fractionals (1/2 Rupee, 1/4 Rupee, and Two Annas) aesthetics are a completely different story, and I can picture seeing the “pig” on his robe. The trunk of the elephant actually blends right into the chain link area, throw in a not so stellar strike, bad eyesight, and viola: Oink Oink!

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1911 1/2 Rupee Proof Rim

Let’s Look at the 1911 George the 5th proposed mintages below:

1/4 Rupee 2.2 miliion
1/2 Rupee 2.3 million
One Rupee 9.4 million
Two Annas 16.7 miliion

From my experience the following availability ranking does hold true from least scarce to most scarce:

Rupee
Two Annas
1/4 Rupee or 1/2 Rupee?

The Rupee we can find all the time in this series if you look simply on ebay. Now the Two Annas coin is the second most available/common, and I my self bought two examples from ebay in a span of 4 months when they were available. The 1/4 Rupee I only saw one for sale, and I bought my example from ebay well over two years ago. I never saw another one listed. 1911 1/2 Rupee I have never seen on ebay. But, do some scans on some other buying venues, and you will find the availability pattern of the 1911 series as described above.

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How scarce are the 1911 1/2 Rupees?

Half Rupees you either find them in gem grade or complete really bad circulated grades, and yes there are at least 5 business strike coins in MS64 + grades. The 1/4’s you ask? Lesser available in higher grades, and remember the Obverse die design was not so hot either. Big Pigs get saved, little piggies roam if they can, do much walking in commerce, and can show up looking very tired. Nobody can confirm what was distributed in lieu of the fractions, and it is a mystery which will remain for many years to come. But what is available today does hold some weight.

I am starting to believe that the 1/4 Rupee may be more difficult to track down than the 1/2 Rupee, and more specifically in a gem grade. Look at what’s graded out there in the 1/2’s, and think to yourself again what has been burned into our coin buying hearts. The 1/2 Rupee is always tougher to find than any other denomination. I personally think that 1/2 Rupees are always deemed “scarce” when appropriate which is always.

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1911 1/2 Rupee India

For this 1911 series I will bet anyone in the world you/me/one has a better chance of getting a 1/2 rupee in MS 65 and above than finding a 1/4 Rupee in MS 65 of above. I know this or think I know this because of the availability of these coins, and what is out there in the market that I have encountered. But think about the following as well. The release of the 1911 Rupee was a disaster for the British Indian Government, and the fractionals were not struck in the same proportionate quantity. “But cranko, The Two Annas they struck many more than the Rupee.” Ahhhhhh…..yes……it was a proposed mintage, and the availability of the Rupee exceeds that of the Two Annas.

Can you/I find a 1911 Rupees on ebay? Yes. Can you find 1911 Two Annas on ebay? Not as many as the Rupee, and not so many nowadays. So that being said the 1911 1/4 and the 1911 1/2 you will never see on ebay, and if you do they will be really badly impaired. Anything is possible though, those denominations are the toughest to find in general, and think about the dilemma at the mint back in 1911/1912. The Two Annas is a denomination that is/was widely used during that time, and so was the Rupee. We know from what is available in present day that both these denominations were distributed more than the 1/4 Rupee and the 1/2 Rupee.

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Sharply struck 1911

Also there were many more Big Pigs and Tiny Pig running around by comparison. The Half Pig and Quarter Pig were not as free as the other pigs. They may have had the opportunity to exist, but didn’t get to run around as much as the other swine. Did the mint let them out of the bags? Yeah. Some of them got out but the total recall was established on January 23rd, I don’t believe the 1/2 Piggies, and 1/4 Piggies got fully minted/distributed. Just as many people kept the Big Piggies for novelty, and the same holds true for the pristine examples we see today for the 1911 1/2’s we see at least I believe.

There is a problem with above data though. The business/circulation fractionals were not distributed in the same numbers as the Full Rupee. Do I know this first hand? Yes, I got in my time machine, and went to the Calcutta Mint December 11th 1911 at exactly 4:20 pm. An auspicious time for pot smokers all over the world, and first hand I saw what was minted. Marty McFly was with me on this trip, and after all it is his time machine. Technically it’s the Doc’s time machine.

Thoughts?