THE COINS AND CURRENCY NOTES OF THE NIZAM DOMINION.
When the English assumed the power of administration, there were more than three hundred native states minting their own independent coins. These native states found that the retention of the name of the Mughal Emperor on their coins are not justified and so they gradually removed the same. However, they retained the old practice of having Persian inscriptions on their coins.
The English administration, after sanctioning this, conceded the right of minting coins only to 34 states put in to 3 categories.
a) The fifteen states which imprinted the name of the English Queen on their coins.
b) Ratlam & Sailana states inscribed the name of state,date and denomination of the coins.
c) Hyderabad, Travancore, Gwalior, Indore and Baroda states ignored in placing the name of the king, but placed their name of the ruler.
First modern series of coins incorporating the historical Charminar were minted and remained till 1948.
Gold coins – it was not legal tender, but used for ceremonial and ornamental purposes and also as gift to the Nizam’s.
Design of the Gold coins are,
Ashrafi = 172.5 gms.
Half Ashrafi = 86.25 gms.
Quarter Ashrafi = 43.125 gms.
One-eighth Ashrafi = 21.562 gms.
In 1930, the value of gold Ashrafi’s in terms of O.S Rupees was full Ashrafi – Rs 29/-, half Ashrafi – Rs 15/-, quarter Ashrafi – Rs 8/-, and one-eighth Ashrafi – Rs 5/- .
Silver coins –Silver coins were in 4 denominations Rupee,8 Annas,4 Annas,and 2 Annas.
Copper coins – There were 3 copper coins, the half, one-sixth, and one-twelfth anna.
Currency Act – In 1911, the Currency Act was passed and in 1936, the Act was modified and nickel coins followed by several other modifications and amendments to the original Act.
Paper Currency –Paper currency was introduced in 1918
Hundred Rupee Note – 1918.
Ten Rupee Note – 1918
Five Rupee Note – 1919
One Rupee Note – 1919
One Thousand Rupee Note – 1926
