Coins often tell stories that history books leave behind—about power, trade, rebellion, and everything in between. Stanley Gibbons Baldwin’s will hold its ‘Ancient, British and World Coin Auction’ on July 9, 2025, at 399 Strand, London. A highlight of the sale is a selection of East India Company gold graded coins that reflect defining periods of British colonial presence in India. The offering includes the 1835 William IV gold Mohur, the 1841 Victoria gold Mohur, and the 1870 Victoria gold Proof Restrike 5 Rupee coin.
The Mohur was first introduced in the mid-1500s by Sher Shah Suri as an attempt to unify the Indian subcontinent’s many regions under a single currency. Though his reign as Sultan of Hindustan lasted only five years, he is remembered as one of the most skilled Afghan generals in the region’s history. He defeated the Mughal Empire, established the Sur Empire, and implemented a number of reforms that influenced the region long after his death. He remained undefeated in battle.
Centuries later, the British East India Company adopted the Gold Mohur as part of its trading system. Its design—a lion striding left with a palm tree in the background—became instantly recognisable. The reverse sides of the coins bore portraits of British monarchs, starting with William IV and continuing with Queen Victoria, Edward VII, and George V. These coins were more than currency; they were part of how the Company maintained control and paid sepoys, the Indian soldiers in its private army.
By the early 1800s, the East India Company ruled over most of India and governed a population of more than 400 million. The Company’s trade had made Britain wealthy, and the Gold Mohur became a symbol of that economic dominance. But it also came to represent the inequalities and unrest that would eventually lead to the 1857 rebellion.
That year, Indian sepoys revolted against the Company, frustrated by unequal pay, mistreatment, and the introduction of new rifle cartridges believed to be greased with animal fat—deeply offensive to both Hindu and Muslim soldiers. The uprising marked a turning point. The British government dissolved the East India Company and took direct control of India, increasing its military presence.
Only four British monarchs were ever featured on the Mohur. The last Mohur minted by the East India Company, under British India, was issued in 1918. This auction presents a rare chance to view and acquire a few of these coins, each preserved and graded.
The 1835 William IV gold Mohur, minted in Calcutta, is in a PCGS holder graded AU 53 (54804105). From a mintage of 29,000, only eleven are recorded finer in the PCGS census. It is estimated at £4,000–5,000.
The 1841 Victoria gold Mohur, Calcutta mint, is a type B obverse, type I reverse, with a divided obverse legend and crosslet 4 variety. Graded AU 58 (54804109) in a PCGS holder, the coin has been mistakenly labelled as a plain 4 variety. It is expected to fetch between £4,000 and £5,000.
The 1870 Victoria gold Proof Restrike 5 Rupees, also from Calcutta, is in a PCGS holder graded PR 61 (54804107). Only five examples are known to be graded higher. The estimate for this coin is £2,000–3,000.
Stanley Gibbons Baldwin’s described the offering as “a significant chapter in the history of the British Empire.” The coins carry more than monetary value—they hold a mirror to a complex history shaped by colonial power, resistance, and changing systems of rule.
