EIC, Bombay Presidency, silver Rupee, Mumbai, AH 1156.

India, British India, East India Company, Bombay Presidency, Mughal-style silver Rupee in the name of Muhammad Shah (AH 1131-61/1719-48), Mumbai, AH 1156, yr 2[6] [1743-4], sikka mubarak badshah ghazi muhammad shah 1156 [The auspicious coin of the victorious emperor Muhammad Shah 1156], rev. zarb munbai sanah 2[6] julus maimanat manus [Struck at Bombay in the [26th] year of tranquil prosperity], differentiating mark 8, 11.56g, 3h (Prid. 54 [not in Sale]; Stevens 2.49, this coin cited; KM. 163). Obverse very fine, reverse extremely fine with some brilliance, rare.

Provenance:

Ex Puddester Collection, Part One, Noonans, 8-9 February 2023, Lot 351

Bombay was given to Charles II as part of a dowry from Catherine of Braganza but before long he leased it to the East India Company. Initially the Company produced its own style of coinage but the silver coins were largely rejected anywhere beyond the immediate area, due to their foreign appearance, making payments problematic. Mughal-style silver coins in the name of Charles II (none of which survive), James II, and William and Mary (all of which are extremely rare) were acceptable to the population but banned by the Emperor Aurangzeb, because they challenged his authority. Pragmatically, the Company sought permission to strike Mughal-style coins, in the name of the ruling emperor, with the mint name Mumbai, and this permission was granted in 1717.