Obverse
Description:
Persian inscription
Reverse
Description:
RY Date, Katak Mint
Edge
Plain
Mintings
| Year | Mint Mark | Mintage | Quality | Collection |
|---|---|---|---|---|
| — | — | — |
Historical background
By 1825, the currency situation within the Maratha Empire, or what remained of it, was one of profound fragmentation and decline, reflecting its diminished political sovereignty. Following the decisive defeat in the Third Anglo-Maratha War (1817-1818), the empire was dismantled. The heartland around Pune was under direct British control as the Bombay Presidency, while the most significant Maratha rulers—the Bhonsles of Nagpur, the Holkars of Indore, and the Scindias of Gwalior—ruled as subordinate princely states under British suzerainty. Consequently, there was no unified "Maratha" currency system. The British rupee, minted in Bombay and Madras, was becoming the dominant standard in the administered territories, steadily marginalizing local coinage.
Within the princely states, a hybrid and often chaotic monetary environment persisted. The rulers retained the right to mint their own coins, leading to a proliferation of local rupees, such as the Gwalior rupee or the Indore rupee, which often varied in weight, purity, and value from each other and from the British standard. Furthermore, the older Maratha silver Annas and copper Paisa coins remained in circulation, now joined by British East India Company coins. This created a complex landscape where money changers (sarrafs) were essential for daily commerce, as transactions required constant calculation of exchange rates and assessment of coin authenticity.
The overall trend was one of forced integration into the emerging British Indian monetary sphere. The British authorities actively promoted their uniform rupee to facilitate tax collection and trade, systematically undermining the legitimacy and economic utility of local currencies. While the princely states' mints still operated, their influence was largely confined to their own territories. Thus, the currency situation in 1825 was a microcosm of the broader political reality: the Maratha monetary tradition was in a state of dissolution, being inexorably absorbed and standardized under the fiscal infrastructure of the British Raj.
Within the princely states, a hybrid and often chaotic monetary environment persisted. The rulers retained the right to mint their own coins, leading to a proliferation of local rupees, such as the Gwalior rupee or the Indore rupee, which often varied in weight, purity, and value from each other and from the British standard. Furthermore, the older Maratha silver Annas and copper Paisa coins remained in circulation, now joined by British East India Company coins. This created a complex landscape where money changers (sarrafs) were essential for daily commerce, as transactions required constant calculation of exchange rates and assessment of coin authenticity.
The overall trend was one of forced integration into the emerging British Indian monetary sphere. The British authorities actively promoted their uniform rupee to facilitate tax collection and trade, systematically undermining the legitimacy and economic utility of local currencies. While the princely states' mints still operated, their influence was largely confined to their own territories. Thus, the currency situation in 1825 was a microcosm of the broader political reality: the Maratha monetary tradition was in a state of dissolution, being inexorably absorbed and standardized under the fiscal infrastructure of the British Raj.
✨ Legendary