Anomalies in Coinage: The Rare One Pie of Bengal Presidency

The Bengal Presidency was one of the most prominent administrative divisions under British India, originally created by the East India Company in the late 17th and early 18th centuries. Its capital was established at Fort William in Calcutta, which later became the seat of British power in India until 1911. At its height, the Presidency encompassed vast territories including present-day West Bengal, Bihar, Odisha, Assam, and Bangladesh, and for a time extended even into the northwestern regions of India. Known for its fertile land and rich resources, Bengal quickly became the financial heart of the Company’s operations and played a central role in shaping the colonial economy and administration.

The East India Company’s involvement in Bengal began with small trading settlements, the most notable being at Hooghly in 1651. Over time, political events transformed Bengal into the foundation of Company rule in India. The decisive victory at the Battle of Plassey in 1757, where Robert Clive defeated Nawab Siraj-ud-Daulah, shifted control firmly into Company hands. This was reinforced by the Battle of Buxar in 1764, which brought the combined armies of the Nawab of Bengal, the Nawab of Oudh, and the Mughal Emperor to defeat. A year later, the Company secured the Diwani rights from Shah Alam II, giving it authority to collect revenue in Bengal, Bihar, and Orissa. This marked the beginning of the Company’s direct administrative role, and while it strengthened its financial power, the exploitative revenue practices contributed to devastating consequences, such as the Bengal famine of 1770. Calcutta soon grew into the hub of Company administration, politics, and trade, symbolizing the consolidation of colonial power in the subcontinent.

The coins issued under the Bengal Presidency reflect this dramatic transition from Mughal authority to British dominance. In the early years, the East India Company minted coins in the name of the Mughal Emperor, maintaining the familiar Persian inscriptions and designs to ensure continuity in commerce. Silver rupees were the principal currency, complemented by gold mohurs and copper coins for everyday transactions. After the Company gained Diwani rights, mints in places like Calcutta, Murshidabad, Patna, and Dacca produced large volumes of coins bearing the name of Emperor Shah Alam II, signaling both political subordination and economic control. By the early 19th century, the coinage began to change as the Company introduced more standardized designs, and in 1835, following the Coinage Act, a uniform monetary system was adopted across all presidencies. Coins thereafter bore the portrait of the British monarch rather than Persian calligraphy, symbolizing the complete shift from Mughal traditions to colonial authority.

The One Pie coin issued under the Bengal Presidency between 1831 and 1835 stands out as a distinctive example of East India Company copper coinage. As the smallest denomination in circulation, equal to 1/192 of a Rupee, it was primarily used for minor daily exchanges in the local markets of Bengal. Despite its humble value, the coin reflects the broader economic and political shifts of early 19th-century India, when colonial monetary policy was beginning to replace Mughal traditions with a more standardized British system.

Minted at Calcutta, the coin illustrates the transitional phase of design. One side carried the value written in Persian script, maintaining continuity with the earlier Mughal-inspired style, while the reverse featured English legends identifying the authority of the East India Company. This bilingual format highlights the Company’s effort to legitimize its rule among both Indian and European users of the currency. Because the coin was so small and heavily circulated, surviving specimens are often found in worn condition, making well-preserved examples particularly rare today.

The One Pie of this era is exceptional for several reasons. It belongs to the final generation of Bengal Presidency copper coins struck before the sweeping reforms of the Coinage Act of 1835, which introduced a uniform coinage across British India. The denomination itself was gradually discontinued, as its extremely low value became impractical for everyday use. Furthermore, die variations, slight changes in inscriptions, and minting irregularities add a layer of rarity, making certain pieces highly sought after in the field of numismatics.

In this sense, the 1831–1835 Bengal Presidency One Pie is more than a small copper token, it is a witness to the transformation of India’s monetary system. It reflects how the East India Company extended its authority not only through revenues and silver rupees but also through the tiniest coins that passed from hand to hand in the bazaars of Bengal.

Typically, a one pie coin from the Bengal Presidency measures around 16.2 mm in diameter and weighs just over 2 g, reflecting its modest size and standard minting practices of the time. However, during my study, I came across two exceptional specimen that deviates significantly from these norms: this rare one pie coin boasts a much larger diameter of approximately 24.8 mm and a substantial weight of 4.48 g, making it a remarkable anomaly in the series and a fascinating subject for numismatic study.