2016-09-16 Fri

When smaller denomination gets bigger value! A Rs.5 note of King George – V brought an amazing price of Rs.65, 000.

Since 1861 notes were issued in India by the Government of India. However, new designed pictorial notes were approved in 1914. Due to an outbreak of war, the idea was dropped and small denomination notes bearing the portrait of King George V were introduced in 1917. These notes of denominations of Five and Ten were issued till 1925.

In these notes, the King was depicted wearing the Imperial Crown and the robe of Star of India. One such note was sold for INR 65,000 in Classical Numismatic Gallery in an auction held in August 2016.

The obverse of the note has a Serial Number in the centre and a denomination panel below it with the words “I promise to pay the bearer the sum of Five Rupee on demand at any office of issues”. Portrait of King George V with imperial crown and robe is shown in a square window. A Floral Motif and "THE GOVERNMENT OF INDIA" written with the signature of H. Denning. The reverse consists of Eight languages i.e., Urdu, Kaithi, Bangla, Burmese, Telugu, Tamil, Kannada, Gujarati on left panel and ‘Rs 5’ at the right corner.

Earlier, these Notes were printed in England at the Bank of England Press on White, Handmade and Moulded paper but on 14 April 1928, India’s own security printing press was inaugurated at Nasik. Hence, the notes came to be designed and printed in India which reduced the cost of printing and distribution. In 1933, Five Rupees notes with a new design were introduced. These notes were printed on thinner paper and were of a smaller size. Within a year the old paper was reintroduced with the same smaller-sized notes.

Notes bearing the portrait of King George V were withdrawn from circulation at the end of June 1941.