50 Rupees

Key Denomination for British IndiaINDIA. Government of India. 50 Rupees, ND (1930). P-9l. Jhun&Rez 3.9.2F. PMG Extremely Fine 40.J.B. Taylor signature. Madras circle. Key denomination for the British India portrait notes of King George V and a type that was never issued in large quantities. As a result, it is a deceptively difficult type to acquire in any grade, on par with some of the great rarities of the Indian subcontinent. Out of eight examples graded for this variety this is surpassed in the PMG population report by just a single finer example.When this note was in circulation, in the 1930s, India's economic development was marked by significant challenges and transformations. The global economic downturn led to a decline in agricultural prices, adversely affecting the rural economy, which was a major part of India's economic landscape. Despite these difficulties, the 1930s saw some progress in industrialization, with the establishment of new industries and infrastructure projects, partly driven by increased government investment in response to economic hardships. With this type on the wish list of even the most advanced collectors, this is certainly an offering to consider if you are a dedicated collector of Indian notes. We have offered this type just a few times in our lengthy auction history. The last time was at our May 2022 Hong Kong auction, when an example also graded Extremely Fine 40 but from the more commonly available Bombay branch brought $12,000. This example from Madras should easily exceed that figure. PMG Comments "Staple Holes at Issue"Estimate: $15,000 - $20,000.