Imagine a one rupee coin, not even one that is too old, made of silver fetching Rs 6 lakhs in an auction. In December 2015, there was a fair bit of excitement in the numismatics circles in India when a 1939 King George VI became the most valued rupee coin in India. Why it topped the charts is interesting – it was thanks to some perfect timing!
The one rupee silver coin of George VI issued in 1939 is one of the rarest rupee coins available. Before the Revolt of 1857, the rupee coins were issued by the East India company. After the transfer of the Indian administration to the British Parliament, the British Imperial Government issued coins in India, under the name of their monarch Queen Victoria. The first such British silver rupee coins was issued in 1862 and this continued till the beginning of World War I.