25 Rupees

INDIA. Bank of Madras. 25 Rupees, 27.8.1849. P-S142. Jhun&Rez 1C.3.1.4. PMG Choice Fine 15.Stamp cancelled. The Bank of Madras was formed in 1843 after the merger of the Asiatic Bank and the Madras Government Bank. This 25 Rupees is from the first series of notes from the newly formed bank, all denominations of which share the same basic design that were printed in England by Perkins, Bacon & Petch. At the top it features the Equestrian statue of Sir Thomas Munroe, the Governor of Madras in the early 1820s, that can still be found just south of Fort St. George, where the bank was headquartered. Issued notes of this institution are seldom seen, and are virtually always cancelled, as seen here. Rust, holes and missing pieces are common on this issue, which circulated extensively in the Madras Presidency. The present example is one of the nicer examples of this rare type we have seen, and will no doubt cause spirited bidding from advanced collectors of early Indian paper money. Problem-free, most of the handwritten text has faded, but the rest of the design is clear and well visible.Estimate: $3,000 - $5,000.PMG Choice Fine 15.