Uni-face Notes of Government of India (1877- 1922)

Top Ten Rare Banknotes of India

By Nilaish "Paper money is fragile and when used a lot, loses it's life but collecting them is even a great challenge!" It is known from various catalouges [1] and [2] that, Indian paper money originated in 19th Century from Bengal Presidency. Bank of Hindostan and Bank of Bengal were the earliest banks in the presidency who issued paper money. The earliest year of issue of Bank of Bengal is 1812. However, notes were issued since 1770 but there is no evidence to support these claims. Indian paper money is divided into roughly four periods, a) East India Company Period (1800-1860), b) British Government of India Issues (1861-1936), c) Reserve Bank of India British Issues (1937-1947) and d) Republic India RBI Issues (1949- ). In the following list, I will pick up some of my personal favourites which are exceedingly rare currency notes of India. The price is not the guiding factor solely for this ranking. One may reshuffle and consider them ... as you wish....funn...

British India One Rupee Notes

by Nilaish (Life Member of IBNS-IBCC) "One Rupee Notes: A legal tender for silver rupee coins to nickel rupee coins, in 1947 all silver content was gone from the rupee." 1917 First issue: One rupee notes were first issued on 30th November 1917 representing 1917 one rupee silver coin. These notes were issued roughly in two types based on the following facts. Type 1: The notes were issued in booklet of 25 notes with each note appearing as cheque leaf having perforations on the left. These notes were printed in England. Signed by A.C. Mc Watters. These booklets appeared like modern day cheque-books [see below]. 1917 One Rupee booklet with 25 notes signed by A.C. McWatters Image Courtesy: Rezwan Razack Prefixes issued in booklets were, Y and Z only. Sometimes inside cover, advertisements were printed. The obverse of the note has serial numbers diagonally left to right. ONE RUPEE in bold in the centre. On the left top we see obverse of rupee c...

Bank of Madras 3000 Rupees Specimen Note fetches 1,30,000 pounds at Spink Auctions London

A Spectacular Auction Evening: Bank of Madras Specimens at Spink Auctions (London) 23 September 2025 Spink’s London “World Banknotes” auction (Auction 25009) drew keen interest from collectors and institutional bidders alike. Among the star lots were specimen banknotes of the Bank of Madras , one of the three Presidency Banks of British India, whose survival in specimen form is exceedingly rare. These notes—pattern designs not meant for general circulation—serve as prototypes, presentation pieces, or archives. Their extreme rarity, historical significance, and aesthetic appeal make them prized items in high-end numismatics. The auction of these notes sets a world record for presidency banknotes of India. The 3000 Rupees Specimen note of Bank of Madras has become the most expensive note sold ever out of all Indian banknotes in any auction worldwide. The Bank of Madras Specimen Lots ...

Nilaish Banknotes World

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