LOT Marudhar Arts  /  Marudhar Arts Auction # 43  / 

392

Extremely Rare First Issue Copper Half Pice Coin of Bengal Presidency.

Currency:INR Category:Coins & Paper Money Start Price:50,000.00 INR Estimated At:50,000.00 - 60,000.00 INR
Extremely Rare First Issue Copper Half Pice Coin of Bengal Presidency.
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Bengal Presidency, Copper ½ Pice, 1st Issue, 37 RY, Obv: the value in three languages Bengali: half pai sikka, Persian: Neem Pai, Hindi: Ada Pai, Rev: Persian legend ‘sana 37 julus, Shah Alam Badshah’, 5.90g, 25.23mm, (KM # 50/Stevens # 4.30/PR # 211),gorgeous brown patina, uncirculated, Extremely Rare.
Note: This Half Pice from the Bengal Presidency dates back to the initial release in 1795, marking the inception of this coin type. Subsequent releases were struck between 1800 and 1829, making the first issue particularly challenging to acquire. After the 1793 currency reform, the insufficiency of small copper coinage prompted action. A council meeting on October 2, 1795, led to the introduction of two copper coins, the One Pice and Half Pice, each equating to a Quarter Anna and Eighth Anna. These coins were designated for circulation in the Bengal Presidency, encompassing Bengal, Bihar, and Orissa. In November 1795, approved specimens were ordered to be struck in equal quantities until the prevailing demand could determine the more sought-after denomination. Shortly thereafter, the value inscriptions were revised to 'One Pai Sikka' and 'Half Pai Sikka,' replacing the initial 'Quarter Anna' and 'Eighth Anna,' for enhanced understanding by the general populace.The prescribed weight for the whole Pice was established at 16 Annas, with the half maintaining a proportional weight. By April 1796, the government was alerted to the substantial annual financial losses if the original weights of 16 and 8 Annas for the two coins were retained. The options presented were either reducing their weight or completely abandoning copper coinage. Consequently, on May 4, 1796, orders were issued for an immediate reduction in weight to 12 Annas for the Pice (134.748 grains) and 6 Annas (67.34 grains) for the Half Pice.The minting of the Half Pice denomination came to a halt sometime between May 1, 1799, and April 30, 1802.
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