On the last day of 1600AD the company of the Merchants of London trading into East Indies, got the royal charter from Queen Elizabeth to monopoly for trade for 15 years. In 1608 AD the English company made its first attempt to establish a factory in India. But in 1618 East India Company got permission to establish a permanent factory at Surat and gradually in later years, it established factories at different parts of India. These East India Company traders gradually got involved in local politics and ultimately succeeded in becoming the rulers of India. Thus whole of India was under their control by 1834 AD. In 1857 AD the Indian People revolted against East India Company’s rule. It resulted in transfer of power from East India Company to British Monarchy. This rule resulted in the end of East India Company in India. The struggle for Independence continued by people of India till they succeeded in 1947 AD, when India got independence from British rule.
COINAGE DURING EAST INDIA COMPANY RULE
1) In the very early stages the EAST INDIA COMPANY imported special coins from England for the use in their factory and trades with other European Companies.
2) Later, EAST INDIA COMPANY got royal permission to mint their coins locally with English inscription for the local use of these coins with the people near by factories East India Company.
3) For the company’s trade, far away from their factories they got the coins minted by Moghul Emperors. These coins were in Moghul style with Persian inscriptions. They were minted at Moghul mints from the bullion supplied by East India Company.
4) From 1716 AD to 1835 AD as the EAST INDIA COMPANY became politically strong, they minted their own coins in EAST INDIA COMPANY mints, but in Moghul style. Those EAST INDIA COMPANY coins were almost similar to Moghul coins. The borderline to separate EAST INDIA COMPANY coins or distinguish them from Moghul coins is blurred and hence difficult.
5 )From 1835 AD uniform coinage in European style, with the effigy of British monarch, replacing the Moghul emperor’s name were issued
6)From 1862 to 1947 AD coins were continued to issued with effigy of succeeding British Monarchs, till India got independence in 1947 AD
Some of my collections
