Unstapled Note without perforation on left side; Star enclosed in a rectangle watermark;
‘A’ Prefix – Cawnpore Circle – 1st Print - Sea Sunk; Signed by M. M. S. Gubbay;
King George V – 1917 Issue – 1 Rupee - Reverse - Wrong Gujarati
King George V – 1917 Issue – 1 Rupee: Order in chaos
In July 1918, the German torpedoes sank a ship named SS Shirala carrying a consignment of 1 Rupee notes from England to India. This was the second print. These notes were pre-signed and were legal tender. This was the first case of notes that sank which were pre-signed before they arrived to India from England. Some of these notes that were washed ashore were found on the Southern coast of England. The notes with prefix ‘A’, ‘K’, ‘L’, ‘M’ & ‘R’ were part of this shipment that sank. There was already a quantity of notes with the above prefixes in circulation, which were withdrawn. Further re-prints for circulation continued with prefixes ‘B’, ‘C’, ‘D’, ‘E’, ‘F’, ‘G’, ‘H’ & ‘J’, and thereafter, from ‘N’ to ‘S’, with the exception of ‘K’, ‘L’, ‘M’ & ‘R’ as they were already used in the first issue and withdrawn. The prefix ‘I’ was never used as it denoted a number and not an alphabet. The prefix ‘Q’ was also not used as prefix ‘O’ had been used instead. The 1 Rupee Notes were printed with Prefix ‘A’ to ‘Z’ with the exception of ‘I’, ‘Q’, ‘T’, ‘U’, ‘V’ & ‘W’.
1st Issue – 1st Print Signatory Prefix Issuing Circle Watermark Gujarati on Reverse M. M. S. Gubbay ‘A’ Cawnpore Enclosed star Wrong Gujarati M. M. S. Gubbay ‘B’ Bombay Enclosed star Wrong Gujarati M. M. S. Gubbay ‘C’ Calcutta Enclosed star Wrong Gujarati M. M. S. Gubbay ‘K’ Karachi Enclosed star Wrong Gujarati M. M. S. Gubbay ‘L’ Lahore Enclosed star Wrong Gujarati M. M. S. Gubbay ‘M’ Madras Enclosed star Wrong Gujarati M. M. S. Gubbay ‘R’ Rangoon Enclosed star Wrong Gujarati
Government of India reinforces trust in Paper Currency:
It is necessary to understand the circumstance and events that necessitated the printing and issuing notes of smaller denomination in India as until 1917 the smallest denomination of Indian Currency note was 5 Rupees. A huge distrust in the currency notes of all denominations arose from 1916. This resulted in the public encashing these currency notes into coins. The currency notes were also subjected to discount of its par value. The Government of India was put to great test in retaining the trust of the public in currency notes by converting them to silver from paper. The Government faced a situation where the silver got exhausted and they could not convert the currency notes in many cases. The World War I also added to the misery of the Government. Even gold sovereigns were offered to the public in exchange of the currency notes. This failed because they came back to the Treasuries as soon as they were issued. The rise in price of silver also did not help as people indulged in speculation and hoarded coins. This severe shortage and price rise in silver and other metals caused by the World War made people hoard silver for personal gains. The situation would have been quite drastic if USA had not supported India by melting 200 million troy ounces of silver and delivering that to India in 1918, which in turn produced 260 million silver rupees.
Birth of King George V – 1917 Issue- 1 Rupee & 2 ½ Rupees notes:
The Government of India, in order to economize and conserve the use of silver commenced issuing paper money of small denominations. Thus was born notes of 1 Rupee. This was followed by an issue of 2½ Rupees. They were issued to public directly from the Currency Offices from January 1918 onwards and from District Treasuries from April 1918. These notes could also be encashed at Post Offices. There was no restriction of encashment anywhere within the Union of India and had the status of being universalized.
The 1 Rupee and 2½ Rupees notes were very unpopular and were traded / accepted only on a varying discount, the maximum being 19%. They were accepted on par because of its wide acceptance and use from 1920 onwards.
King George V – 1917 Issue - 1 Rupee Packet & Booklet:
Without perforations & perforated:
The first issue of 1 Rupee was in the form of a packet of 25 notes, which were unstapled, therefore without any perforation on any side. There were instances of these packets containing irregular quantity of notes – lesser or greater than 25 notes, which were reported to the Controller of Currency. This necessitated in 25 notes being bound in a booklet either by stapling or stitching, from 1919 and resembled a miniature chequebook. The outer cover in red carried printed slogans to popularize Government Efforts and Programmes. These stapled / stitched notes have a visible perforated edge on the left.
King George V – 1917 Issue – 1 Rupee - Stapled Booklet
Note with perforation on left side; ‘D’ Prefix - Universalised
E’ Prefix with correct Gujarati on reverse
Special features of King George V - - 1917 Issue - 1 Rupee Note - 1st Issue :
· Discontinued on 1st Jan’1926.
· Printed in England.
· Paper – White hand-made moulded paper.
· 3 signatories – M. M. S. Gubbay, A. C. Mc Watters & H. Denning.
· Watermark – two varieties – star enclosed in a rectangle and rayed star.
· First pre-signed notes shipped from England.
· The only issue of Indian Paper Money having prefix ‘O’.
Correction in Gujarati Language:
An error in the Gujarati language printed on the reverse of the note was noticed. The Gujarati script is represented on the eighth panel on the reverse. This error was corrected in prefix ‘D’ itself. However, there have been notes that have been observed in later prefix including prefix ‘H’ that have the error in Gujarati language printed on the reverse. This is because while production, the earlier paper with error Gujarati must have been used.
Prefix ‘O’:
The only instance of prefix ‘O’ being used in Indian Paper Money is in the 1st Issue of King George V One Rupee. The prefix ‘O’ is never used in Indian Paper Money as it is confused with the numeral zero. The prefix ‘I’ is also not used for the same reason as it signifies the numeral one.
Only denomination in Indian Paper Money with ‘O’ Prefix
East Africa issues of King George V – 1917 Issue - 1 Rupee :
Prefix ‘X’, ‘Y’ & ‘Z’:
There is also a note signed by M.M.S.Gubbay prefix ‘X’ with corrected Gujarati on the reverse. This was because notes with prefix ‘X’, ‘Y’ & ‘Z’ were used for circulation in British East Africa. There was a split in signature in prefix ‘X’. A.C.McWatters signed the remaining prefix ‘X’ along with ‘Y’ & ‘Z’. This issue has the enclosed star watermark.
Split in signature:
The first signature split occurred in prefix ‘J’ and prefix ‘X’. That is M.M.S.Gubbay to A.C.McWatters. The second split occurred in prefix ‘S’, that is, A.C.McWatters to H.Denning.
‘J’ Prefix; Signed by M. M. S. Gubbay
‘J’ Prefix; Signed by A. C. McWatters
‘S’ Prefix; Signed by H. Denning
Obverse - Rayed Star watermark; ‘S’ Prefix – Universalised; Signed by A. C. McWatters
Reverse - Correct Gujarati
‘X’ Prefix – Universalised; Signed by M. M. S. Gubbay
Reverse - Correct Gujarati
‘X’ Prefix – Universalised; Signed by A. C. McWatters
Reverse - Correct Gujarati
Split in watermark:
‘P’ Prefix; Star enclosed in a rectangle watermark
'P' Prefix; Rayed Star watermark
King George V - 1 Rupee 1917 Issue - Table of all Prefix | |||||
Signatory | Prefix | Issuing Circle | Watermark | Gujarati on Reverse | Remarks |
M.M.S.Gubbay | A | Cawnpore | Enclosed star | Wrong Gujarati | 1st print & Sea sunk |
M.M.S.Gubbay | B | Bombay | Enclosed star | Wrong Gujarati | |
M.M.S.Gubbay | C | Calcutta | Enclosed star | Wrong Gujarati | |
M.M.S.Gubbay | D | Universalised | Enclosed star | Wrong Gujarati | |
M.M.S.Gubbay | D | Universalised | Enclosed star | Correct Gujarati | Gujarati corrected |
M.M.S.Gubbay | E | Universalised | Enclosed star | Correct Gujarati | |
M.M.S.Gubbay | F | Universalised | Enclosed star | Correct Gujarati | |
M.M.S.Gubbay | G | Universalised | Enclosed star | Correct Gujarati | |
M.M.S.Gubbay | H | Universalised | Enclosed star | Correct Gujarati | |
M.M.S.Gubbay | J | Universalised | Enclosed star | Correct Gujarati | Split in signature |
A.C.McWatters | J | Universalised | Enclosed star | Correct Gujarati | Split in signature |
M.M.S.Gubbay | K | Karachi | Enclosed star | Wrong Gujarati | 1st print & Sea sunk |
M.M.S.Gubbay | L | Lahore | Enclosed star | Wrong Gujarati | 1st print & Sea sunk |
M.M.S.Gubbay | M | Madras | Enclosed star | Wrong Gujarati | 1st print & Sea sunk |
A.C.McWatters | N | Universalised | Enclosed star | Correct Gujarati | |
A.C.McWatters | O | Universalised | Enclosed star | Correct Gujarati | |
A.C.McWatters | P | Universalised | Enclosed star | Correct Gujarati | Split in watermark |
A.C.McWatters | P | Universalised | Rayed star | Correct Gujarati | Split in watermark |
M.M.S.Gubbay | R | Rangoon | Enclosed star | Wrong Gujarati | 1st print & Sea sunk |
A.C.McWatters | S | Universalised | Rayed star | Correct Gujarati | Split in signature |
H.Denning | S | Universalised | Rayed star | Correct Gujarati | Split in signature |
M.M.S.Gubbay | X | Universalised | Enclosed star | Correct Gujarati | Split in signature |
A.C.McWatters | X | Universalised | Enclosed star | Correct Gujarati | Split in signature |
A.C.McWatters | Y | Universalised | Enclosed star | Correct Gujarati | |
A.C.McWatters | Z | Universalised | Enclosed star | Correct Gujarati | |
12 comments:
Mr Razack,
Excellent article. I had been trying to pin down the exact number of issues for this note for quite some time. The details here are fantastic. Love your blog.
Balaji
Fantastic information..am working in Reserve Bank for the past 39 yrs..and none here have the info you have, Sir. Congrats
Thats great piece of information good work sir . i will be great ful if u can get me more knowledge about 50 rupee note of king george V and certain scans if you can provide will be highly appreciated
I have the same note any body needed plz contact me on 9897825688
I have the same note any body needed plz contact me on 9897825688
I have the same note any body needed plz contact me on 9423516801
Can anyone tell the exact price of this notes
Can anyone tell the exact price of this notes
Excellent Blog. Very useful.
I have a 2 x100 rupee notes where the serial numbers start with
JWK
OUT
What are the languages are printed in the note?
hi all
i m rajni tulsiyan
if any one have kgv 1 rs 1917 note
pls contact
6469455117
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