We have reached a stage where countries are now producing polymer notes, but do you know how early banknotes of India were made? Most of these notes were made using handmade white paper, due to which it is very difficult to find early banknotes in extremely good condition.
The East India Company had made different territories in the Indian subcontinent namely, Bombay Presidency, Madras Presidency and Bengal Presidency for administrative purposes. Private and semi-government banks such as Bank of Hindostan, issued Indian presidency banknotes that were circulated only within these specific territories. Some of these early banknotes come in unique denominations such as 8 rupees, 16 rupees, 5000 rupees and more. Many of them had designs only on one side. If you have any one of these rare banknotes in your collection, you can make a lot of money by auctioning them. The unique calligraphy and designs on these old banknotes of India make them even more precious.
It is very important to take care of these early banknotes by using quality banknote albums as they are very delicate. Only if you maintain the condition of your notes, will you be able to fetch good returns in the future. Apart from that, join as many online and offline communities who are into collecting early Indian banknotes. This way, you will get to know about the historical significance of certain unique banknotes of India.
Knowledge is everything in this hobby. If you don’t keep researching, dealers and sellers might try fooling you by selling notes at a much higher value than its actual market value. The best way to increase your knowledge about early banknotes is by reading reference books and catalogues written by famous notaphilists. When you are aware about each variety of Indian banknotes, you will be able to put together a more impressive collection. So, lose yourself into the world of early Indian banknotes and enhance your knowledge along with your collection.
