5 Rupees

INDIA. Government of India. 5 Rupees, 27.12.1915. P-A5k. Jhun&Rez 2A.1.4H.2. PMG Very Fine 30.Cawnpore circle. M.M.S. Gubbay signature. An exceptional rarity from India issued in the midst of World War I. During World War I, India, then under British rule, contributed significantly to the British war effort by providing over a million soldiers and substantial financial resources. Notes such as this example served an important purpose domestically as coins were being hoarded and mostly disappeared from everyday circulation. As a result, unsurprisingly, most examples seen today are in heavily circulated grades and are often plagued with issues such as writing, tears or missing pieces. Problem free notes, such as this example from Cawnpore, are seen relatively infrequently. According to the PMG population report, as of the time of cataloging, this is the only note for this variety graded at this grade level with just two finer. PMG Comments "Spindle Holes at Issue."Estimate: $4,000 - $6,000.