The Evolution of Currency Notes In India

Indian notes have evolved over the years. Both in terms of designs and sizes, Currency Notes In India can take you through a beautiful journey. From east India company notes to the latest 2000 rupees notes when you sit down and study various Indian notes that have been issued over the centuries, you will open yourself up to the rich history of India. Before the colonization of India, currency notes were not issued by kings and emperors in the medieval era. You will not find currency notes in India that were issued by the Mughals or the Marathas. After trade started flourishing in the 18^th century, India was slowly colonised by the East India Company and other European countries. For administrative purposes three different presidencies were formed – Bengal Presidency, Bombay Presidency and Madras Presidency. Indian notes were issued by each of these three presidencies. 

Apart from England, India was also under the Dutch, French and the Portuguese rule. Some really beautiful currency notes in India were issued under these colonial powers as well. Did you know that many uniface Indian notes were also issued back then? “Uniface notes” means that there was a design only on one side; the other side was basically left blank. 

Apart from the designs and sizes, another major aspect that has changed over the years is security features on currency notes in India. Counterfeiting has been prevalent since many years now. But with the advent of technology, forgeries have become easier as well. There is a constant need to increase security features on currency notes in India. The recent decision by Prime Minister Narendra Modi to demonetize 500 rupees and 1000 rupees Indian notes was not just to curb black money but also to tab counterfeiting activities that has been funding terrorist organizations as well. Form uniface colonial Indian notes to the latest violet coloured 2000 rupee note, currency notes in India have many exciting stories to narrate.

How My Hobby Of Collecting Indian Notes Made Me Stress Free!

There are many interesting things to do in life which takes you out of your mundane and boring routine. What is the point in spending all your life doing something that does not make you happy? Amidst all the stress around you, there are moments when you want to break free and indulge in something that makes you smile and stay relaxed. Hobbies are a good escape that reduces stress levels to a great extent. There are scientific studies that have proved that people who take their hobbies more seriously are have lesser stress levels. Stress is one of the biggest causes of new age illnesses like hypertension, blood pressure, obesity, etc. Some like to play an instrument and others like to read books. There are many other kinds of interesting hobbies that people around the world are into. One such hobby is collecting banknotes. I know of some collectors who are passionate about collecting Indian Notes. What I like about them is that they are so enthusiastic about everything they do. I had never imagined that I would meet people who are so keen about collecting currency notes of India. 

I was cleaning my bike under my building when I saw a group of middle-aged men discussing something very important. When I went ahead to take a closer look, I found them holding their collections of Indian notes. I felt a bit awkward at first but slowly I was sucked into their conversations. I introduced myself and they did the same as well. They said that they have been collecting currency notes of India since 7 years now. I asked them how they go about doing all this. They said that they are not doing it full time, but they meet at least once in two weeks and discuss about whatever Indian notes they found or collected over the fortnight. When I first looked at their collection of currency notes of India, I was not very impressed. Then they asked me to take a closer look at the serial numbers. I noticed that these numbers had a particular pattern. When they explained more about the Indian notes that they collected, I was even more surprised.  

From that day onwards, I became a new comer to the field of collecting Indian notes. There has been no looking back ever since then! I am happier today; I have something to fall back to in times of stress, all thanks to that one meeting!

What makes Collectors fall in love with Indian Notes?

Money is what rules the world. If there was no money how would civilizations evolve? This power of money is what makes many collectors fall in love with currency notes. I have some friends who are into collecting Indian Notes. I always wondered what makes them want to pursue such a unique hobby. The most common hobbies that you would hear about is listening to music, playing a sport maybe. But this unusual hobby of collecting currency notes in India made me curious. 

Finally I went up to them and asked them why they are collecting Indian stamps. One of them answered saying that he loved history and by collecting Indian notes, he kind of stays connected with his field of interest. Thesn I questioned him further to find out what kind of Indian notes he likes to collect. He told me that he keeps looking out for currency notes in India that were issued when our country was colonised by the Portuguese, French and the British. I got a change to look at his amazing collection of Indian notes and was spell bound literally. I suddenly realised why he likes his hobby so much. I gazed at those lovely currency notes in India for almost an hour. Each note had a story to say. For the first time in my life I saw one-sided Indian notes. They had designs and inscriptions only on one side. 

Then I went up to another collector, he was different from my earlier friend. He liked collecting currency notes in India with fancy numbers on the serial number. For example, all ones or all twos. He had a certain terminology for each of these notes. The Indian notes he had with a serial number having the same digit were called super solid notes.

On that day I discovered that it is not really strange for someone to fall in love with the hobby of collecting banknotes!

Fancy numbers play a vital role when it comes to collecting Indian Notes

The term given to the study of banknotes is Notaphity. And when you have to study banknotes you would invariably have to collect them. So what are the facts and features about banknotes that excite and lure a collector? Well, that’s a very relative question and it completely depends on the interest of the collector. I have been collecting Indian notes since five years now and I have completely got hooked on to it. Initially all I was interested in collecting was fancy numbered Indian Notes. 

I started with currency notes in India whose serial number ended with the digits 786. The number has a lot of significance for Muslims and it is considered to be a lucky as well. I accidently found a 10 rupee Indian note first with the serial number ending with this lucky number. I did not pay much attention to it. I was at the supermarket and was about to give it away to the owner, when he held it and looked at it for some time. He first thanked me. I wondered why he did that. After questioning him, I realised the importance of these notes. After several requests, I exchanged the note with another one and I kept the lucky 10 rupee Indian note with me. I don’t really know how lucky it was for me, but I surely fell for the idea of collecting more currency notes in India featuring 786 in the serial number. I started checking online for these notes and then found out that collecting Indian notes is a popular hobby that many pursue. I joined a few communities and interacted with several other collectors like me. This way, I started growing my collection of Indian notes slowly.

After I collected quite a few 786 notes, I moved on to sold numbers and super solid numbers. Unlike coins and stamps, serial numbers and fancy numbers play a vital role when you are a collector of banknotes. I slowly learned that there are many who are ready to pay thousands of rupees just for owning special currency notes in India featuring interesting serial numbers!

My Curious Nature Led me to Collecting Indian Notes

As the years pass by, our standards of living always keeps on increasing. And with that, there is a need to release higher denomination currency. Many a times we hear of stories from our parents and grandparents of how they used to buy a lot of things with just 1 rupee or some paisas for that matter. The 100 rupees Indian Notes that we use today might not fetch you anything in maybe 20 years. Its value could be as much a 1 rupee of today’s times. That’s what made me curious about Indian notes and I started collecting them a few years back. I first started collecting Indian notes of 1 rupee denomination. I started looking out for the different kinds of designs that are featured on them. I started looking up on the internet for currency notes in India of the denomination one. Then, I realized that collecting Indian notes is a hobby that many pursue.

That’s what got me going, I started networking with other collectors like me. There are some who have been collecting Indian notes since 30 years, 40 years and so. It feels great to stay in touch with such experts because they keep sharing their insights and opinions about various aspects related to the hobby. I think it is very important to connect with the fraternity at a deeper level for this wonderful hobby to survive. After I ended my quest for collecting 1 rupee Indian notes, I moved on to other denominations. I recently came to know that high value denomination like 1000 rupees was also issued back in the times of East India Company. Then it struck me that 1000 rupees in those days might be worth crores of rupees of today’s times. I asked myself why are Indian notes of the denomination 1 crore released now then? I did a bit of research and found out that such high denominated banknotes are issued by governments only to tackle the problem of inflation. 

Now when I look back I realized that questioning oneself from time to time is what makes you curious and keeps you engaged!