indian paper currency

The History of Indian paper currency
Some of the first notes to go into circulation in the Indian market were issued by the Bank of Hindustan, The Bengal Bank and other such institutions. This was somewhere in the eighteenth century. It was only as late as 1935, when the Reserve bank of India started issuing currency notes in India.


In the notes issued by the Bank of Bengal, the denomination of the currency was written in three languages, and in an effort to make forging difficult if not impossible, the note was multi-coloured and decorated with a complicated design. At some point, there were even, ‘Bank of Bombay’ notes in circulation.
The first set of British India notes were only printed on one side, unlike their predecessors. It may seem unbelievable today, but such notes were often mailed to the receiver in two packages, each containing one half. This was done as a measure of security, in those days. Notes carrying the British monarch’s portrait were released in the early 1920s. New notes, today, carry portraits of M K Gandhi, India’s most celebrated freedom fighter and leader.
Price guide for paper currency
Just like with coins, there are books and publications which list price guidelines, catalogue paper currency and present a fair idea of paper currency values. You can refer to these when you attend auctions or shows or visit a paper money dealer.


The Internet has valuable information on old paper currency, but don’t be too quick to trust an online vendor of such notes. Always check with the vendor’s precious clientele. The best way to maintain a good collection is by establishing your contacts with a reputable dealer. Once the dealer knows exactly what you are looking for, he or she can help you dispose of and acquire the right paper currency for your collection.
Storing paper currency
Once you have found what you are looking for and made a purchase, you must think about how you plan to store your acquisition. It is worth investing in an expensive top-of-the-range paper money holder to ensure that your note does not get damaged.

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