The Proposed Dollar of India, 1941

They exist only as patterns today, but in 1941, serious consideration was given to overhauling the coinage of India based on a “dollar”. Students since that time have jumped to a couple of erroneous conclusions: India did not intend to go decimal and the dollar was not that of the U.S.

It went like this: Until 1940, the war in Europe and the troubles in the Far East did not greatly disturb the workings of the two main Indian mints, Bombay and Calcutta. However, with the great load of work imposed on the Royal Mint in London and the insecurity of the sea lanes to her colonies, much of the coinage needs for the latter were

passed on to the Indian mints as being safer and closer to hand to the Eastern, African and Near Eastern possessions. It would come to pass that Bombay would even strike some coins for Australia. Beyond these were the coinage needs of certain princely Indian States – not to mention the considerable demands of India herself.

Silver supply was getting to be a problem but this was overcome in part by reducing the fineness of the Indian coins from .917 fine to .500 in 1940. Even so, minting capacity was being stretched to the limit and it was with this in mind that the patterns shown below were first proposed with the hoped-for saving in time, effort, metals and press time. In 1941, two 1-rupee coins plus a half-rupee weighed 450 grains; the proposed single coin would also represent 2½-rupees but weigh just 225 grains. For want of a better denomination, it would be called an Indian “dollar”.

There were two pattern designs made, that represented below by Reverse 1 and the center Obverse most likely the one that would have appeared had events not gotten in the way. The Obverse was simply the current “Colonial Effigy” by Percy Metcalfe then in use. Both Reverses were hand-engraved by Albert Pearson Spencer, Artist/Engraver to the Calcutta Mint 1926-45. The Krause catalogue of world coins lists a third design – as Reverse 1 but with the S of RUPEES “half to left of large 1”.

Both reverses display a large “1” overlaid by “DOLLAR” and, in smaller letters, its equivalent value “2 RUPEES 8 ANNAS” (which is to say, 2½ Rupees). In the upper section, in Urdu, is “DHAI RUPIYA” = “Two and a half rupees”.

There is every indication that India was prepared to use the new Dollar as of the beginning of 1942 but in December, 1941, the Japanese attack on Pearl Harbour and the declaration of war between them and both the Americans and the British put India in danger of invasion as well. As early as January, 1942, the planning for a major American Aid base at Karachi was laid and as of 1943, the Americans made large silver loans to India. Thus the Dollar project was shelved and the old silver rupee continued to war's end in 1945. After skipping a year, the rupee resumed in 1947 but as a nickel coin, this fairly massive issue (about 160-million pieces) serving to withdraw the older silver pieces in order that the silver loan could be repaid.

This was the last rupee of British India, the country becoming an independent republic in the same year. And she did go decimal – but not until 1957 when the coinage had 100 “naye paisa” to the “rupee”.

 

 

Wayne Jacobs is numismatic expert. He is the award winning author of numerous articles. He is the secretary and editor of the "Mid-Island Coin Club Numismatic Journal"of Nanaimo, Vancouver Island , British Columbia. The MICC journal are hosted here: MICC webpages Copyright 2006 Wayne Jacobs. This article may be reprinted freely for non commercial purpose only if the resource box is left intact, linking back to us.