100 Rupees

Stunning R4 Gulf NoteINDIA. Reserve Bank of India. 100 Rupees, ND (1959-70). P-R4. Persian Gulf Note. PMG Choice Uncirculated 63.Signature #74. Watermark of Ashoka Column. Notes from this series are seldom offered in public events, and when one does become available to the collecting community it is sure to garner plenty of attention. PMG's population report lists just three notes in uncirculated grades, two of which are in CU64 holders and the presently offered example which is in a CU 63 grade. India issued this series of notes strictly for use in Persian Gulf countries to regulate the amount of Reserve Bank currency leaving the country, and to control Persian Gulf countries from collecting Indian Rupees and submitting them to the Reserve Bank of India to be redeemed and converted into foreign currency. A highly scarce type, found here in a Choice Uncirculated grade and displays intricate design details in bold ink. PMG comments "Staple Holes at Issue, Pinholes" PMG Pop 1/2 Finer.Estimate: $25,000 - $30,000.