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Forum Home > British India > 3 Tolas Bullion Piece

Brian O'Donnell
Limited Member
Posts: 2

 

 

I am researching a very rare gold bullion coin labeled as '3 Tolas'. My profile contains a photograph of the obverse. I am having trouble finding any historical record of this bullion coin. There is no evidence that any 3 tola bullion coin, other than this one, has ever appeared at an auction sale. The following is some of what I do know:

This crown sized bullion coin is made of 0.9999 (99.99%) fine gold and was struck in 1917 by His Majesty’s Mint (King George V of England ) in Bombay, India . This three tola gold bullion coin is believed to be unique as no other sample is known to have ever been recorded. It is believed that all other three tola coins were melted down to make elaborate gold jewelry and artwork for Indian and British nobility. This bullion coin has a plain edge. The bullion coin is believed to have been minted using a milling process (i.e. die-struck).

Any information you can provide would be appreciated.

Brian

July 31, 2013 at 10:13 PM Flag Quote & Reply

Navonil Mukherjee
Member
Posts: 99

hope the image below help you....its from Krause Standard Catalog of Unusual World Coins, 4th Edition 2006


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August 1, 2013 at 12:34 AM Flag Quote & Reply

Navonil Mukherjee
Member
Posts: 99

It is a private issue i.e somone give some gold to Mumbai mint to refine that.....http://www.mumbaimint.in/goldrefining-processing.aspx

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August 1, 2013 at 12:50 AM Flag Quote & Reply

Brian O'Donnell
Limited Member
Posts: 2

Navonil,

The coin in the Krause catalog is my client's. My client provided the photos. The reverse side of the coin in my profile has the number 125 and year 1917. Krause did not know how to value the coin so they just made up a number based on the gold content. The coin should have significantly more value as it is possibly unique. From Krause's catalog it appears that they have valued three coins but that is impossible since they had never seen more than the one coin from my client. They couldn't complete the mintage number as they have no idea how many were minted. They literally had no previous knowledge or reference point pertinent to making a valid valuation.

I did not understand your second response. It would not seem a private matter for the King to mint official conies. It is not entirely clear to me that the India Government Mint in Mumbai was formerly His Majesty's Mint (Bombay). The history page at http://www.mumbaimint.in/aboutus.aspx doesn't mention anything about minting for the King. Were there two mints in Bombay?

Brian

 

August 1, 2013 at 8:50 AM Flag Quote & Reply

Navonil Mukherjee
Member
Posts: 99

There is only one mint in Mumbai which is moved once. Mumbai mint as well as whole India was first ruled by East India Company and later by the crown(1857 onwards).

My second part of the response meant - - Mumbai mint issue bullion coins of precious metals for many rich businessman (now mostly for banks) with the metal provided by the client.  They standardize the weight and finesse so the client can resell them(just like Swiss gold bullion coins) . These issues are privet issue and has none what so ever numismatic value (maybe have some antique value) . Besides TOLA is not a monetary unit... its a unit for weight (roughly 11gm I think)

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http://mycoinsnavonil.blogspot.in/

http://navonilphillumeny.blogspot.in/


August 1, 2013 at 5:51 PM Flag Quote & Reply

Aniruddha
Moderator
Posts: 222

I agree with Navonil,  its worth only the metal value as there is no denomination or no historical relevance except the mintage year!!! 

However there have been some auctions of tola coins, wherein collectors have paid more:

http://www.mcsearch.info/search.html?search=similar%3A394927&view_mode=1#0

August 6, 2013 at 5:41 AM Flag Quote & Reply

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