Rare Coins Archives - Page 3 of 3

Exotic India – Silver Rupees of the Mughal Empire

This is a bold example of a Mughal silver rupee exhibiting fine calligraphy. It was struck in 1042 AH (1632 AD) at the apogee of the Mughal Empire, during the reign of Shah Jahan, in the Indian city of Burhanpur.

The acclaimed American writer William Faulkner once wrote that "The past is never dead. It's not even past." This maxim is just as true for nation-states and religions as it is for individuals. And the great Indian subcontinent is no exception. The region unapologetically drips with history, reveling in its millennia old, eclectic culture. Indians live and breathe the milieu of history regardless of their religion, race or language. This unique Indian perspective on history is perhaps best encapsulated in the splendid silver rupees of the Mughal Empire.

The Islamic Mughal emperors were lords of India from the early 16th century to the mid 18th century. Among their greatest achievements was their silver rupee coinage - one of the most beautiful series of coins the world has ever seen.

Hand-struck in stunningly high relief, these thick, heavy silver coins possess dazzling eye appeal. Delicate florets, refined beaded borders and ornate quatrefoil decorations seamlessly blend with exquisite, flowing Arabic calligraphy on these masterpieces of Indian art. While the Mughal court was heavily influenced by the glamorous aesthetic of their Persian neighbors, Mughal silver rupees reflected the confidence of a uniquely native Islamic Indian culture.

Weighing around 11 grams each, silver rupees were among the largest silver coins minted in the world during the 16th century, exceeded only by contemporary European thalers. During this time, much of Europe was still struggling with a miserable monetary system of small, debased silver and crude copper coinage. Indian silver rupees, in contrast, were minted from almost pure silver.

Indeed, the Mughals needed to strike a high face value silver currency to satisfy their empire's extensive commercial trade. Indian cotton and silk fabrics, in particular, were renowned in Europe for their fine quality and workmanship. Western demand for Indian goods was so high that Englishman Sir Thomas Roe, like many European economists at the time, lamented that "Europe bleedeth (gold and silver money) to enrich Asia."

Square Mughal Silver Rupees for Sale on eBay

Predictably, the Mughal Empire was unbelievably, fabulously rich. The Mughal Emperors' wealth far exceeded that of any of their illustrious contemporaries, including the English Queen Elizabeth I, the French Sun King Louis XIV and the Ottoman Sultan Suleiman the Magnificent.

During the early 17th century the Mughal royal treasury reportedly contained 7 tons (6,350 kilograms) of gold, 1,116 tons (1,012,418 kilograms) of silver, 80 pounds (36 kilograms) of rough diamonds, 100 pounds (45 kilograms) of rubies, 100 pounds (45 kilograms) of emeralds imported from the legendary mines of Columbia and 600 pounds (272 kilograms) of natural pearls. It is no accident that the English word "mogul" - meaning someone of great power and wealth - is actually a corruption of the name "Mughal".

Before the Mughal Empire was founded, medieval India was dominated by a collection of small independent Islamic kingdoms called sultanates. These Islamic Sultanates were founded by Muslim invaders who brutally conquered much of India in the 13th and 14 centuries. In 1526 a Central Asian warlord named Babur swept south from the mountains of Afghanistan and crushed the Delhi Sultanate's army on the Ganges Plain at the First Battle of Panipat. With this decisive victory Babur founded the great Mughal Empire - one of the mightiest kingdoms India has ever seen.

Mughal Silver Rupees of Akbar for Sale on eBay

Akbar (reigned 1556-1605) was the first truly great ruler of the Mughal Empire. He expanded his domains to include the entire northern part of the subcontinent and parts of Afghanistan. Although a Muslim, Akbar was sensitive to the cultural and religious proclivities of his Hindu subjects. His abolition of the hated jizya - the tax on unbelievers commanded in the Koran - won the loyalty of many of his Hindu subjects. During Akbar's reign the economy prospered, with both domestic and international trade growing quickly.

Jahangir (reigned 1605-1627) continued the liberal religious policies of his father, Akbar. However, Jahangir was both an alcoholic and an opium addict. His capable chief wife, Nur Jahan, effectively controlled the empire in his place while he was incapacitated by his addictions. Nur Jahan wielded so much power that she even minted silver rupees in her own name, a privilege usually reserved for the reigning monarch. In spite of Jahangir's slide into decadence, the Mughal Empire still expanded both territorially and economically under his reign.

Mughal Silver Rupees of Jahangir & Nur Jahan for Sale on eBay

Under the exalted Shah Jahan (reigned 1628-1658) the prosperous Mughal Empire reached its cultural zenith. He ordered the construction of many buildings of unsurpassed beauty, including such architectural gems as the imposing Red Fort, the otherworldly Shalimar Gardens and the renowned Taj Mahal.

The Mughal Empire was so wealthy under Shah Jahan's reign that he commissioned the legendary Peacock Throne, a lavish royal perch constructed from 2,535 pounds (1,150 kilograms) of pure gold and encrusted with 507 pounds (230 kilograms) of diamonds, rubies, emeralds, garnets and pearls. The Peacock Throne was so extravagant that it reputedly cost twice as much as the peerless Taj Mahal to build.

Mughal Silver Rupees of Shah Jahan for Sale on eBay

Aurangzeb (reigned 1658-1707) was a strict, zealous Muslim who reversed many of the accommodative religious policies that the tolerant emperor Akbar had introduced. This was a fatal political move in a kingdom primarily populated by Hindus. While dissension grew and his empire slowly rotted from within, Aurangzeb unceasingly waged aggressive wars of territorial expansion.

By his death in 1707, the empire had reached its greatest geographical extent, stretching from Afghanistan in the northwest to Bangladesh in the northeast to almost the tip of the Deccan peninsula in the south. But although glorious in size and military might, the Mughal Empire was now an overextended kingdom on the verge of internal collapse.

Muhammad Shah (reigned 1719-1748) governed an empire in terminal crisis. Widespread internal revolts beset the once great kingdom and the upstart native Indian Maratha dynasty conquered huge swaths of Mughal territory. Mughal royal governors began to declare their independence during this time, ushering into existence the Indian princely states of Hyderabad, Awadh and Bengal.

The empire de facto collapsed after the Persian king Nader Shah defeated the sizable Mughal army and sacked the imperial capital of Delhi in 1739. Among the countless treasures the Persians looted during this humiliating defeat was the famed Peacock Throne. The last pitiful vestiges of the Mughal Empire were finally, mercifully dissolved by the British after the unsuccessful native Indian Sepoy Rebellion of 1857.

Mughal Silver Rupees of Aurangzeb for Sale on eBay

When investing in Mughal silver rupees it is important to only buy pieces in Very Fine (VF) or better condition. This will ensure that most of the details on these eye-catching works of art are intact. In addition to avoiding heavily worn specimens, damaged, weakly struck or otherwise ugly coins are also undesirable.

It is very common to find Mughal silver rupees that have small punch marks called banker's or merchant's marks. These were test marks punched into the coin by merchants or moneychangers to verify the quality of the silver. Banker's marks usually do not affect the value of a Mughal rupee much, although a pristine, non-marked coin may command a small premium.

Most Mughal rupees were struck in conventional round shapes, but it isn't uncommon to find curiously-shaped, highly attractive square varieties. Ultimately, as with most coins, good eye appeal - however it manifests itself - is the best trait to pursue.

Although Mughal silver rupees are dated in Arabic (using the Hijri calendar system), very few collectors choose to collect by date. Instead, ruler, type and mint are the more common collecting criteria.

While the remnants of the Mughal Empire struck rupees into the 19th century, it is only advisable to purchase examples from the reign of Muhammad Shah or earlier. Later rulers presided over an empire in name only, so they are of much less interest to serious connoisseurs. A possible exception to this guideline is if you want to assemble a complete set of coins by emperor, in which case you would need the later emperors as well.

Fractional unit coins of 1/2, 1/4, 1/8 and tiny 1/16 rupees are occasionally found, but investors should stick to the larger 1/2 rupee and one rupee units for maximum return potential.

Mughal Silver Rupees of Muhammad Shah for Sale on eBay

Mughal silver rupees represent absolutely amazing value in the tangible asset space. Prices of these exotic, centuries old Indian coins - as with many hand-struck, pre-modern coins - have increased substantially over the past 20 years. It used to be possible to acquire fine examples for perhaps $15 to $30 each - laughably inexpensive given their unparalleled beauty and romantic history.

Now they are merely humorously inexpensive, with prices starting around $35 for common specimens in average condition to a little over $100 for the same coin in jaw-dropping, mint-state preservation. Rare varieties easily run into the several hundred dollar range.

A compelling collection of investment-grade Mughal silver rupees could easily be assembled for less than a few thousand dollars. While the Mughal Empire may no longer exist, it is still possible to hold its glorious history in the palm of your hand.

Read more in-depth Antique Sage rare coin investment guides here.

When Europe Loomed Large – Antique European Art Medals

A late 19th century bronze art medal featuring Franz Joseph I, the ruler of the now defunct Austro-Hungarian Empire from 1848 to 1916. This specimen comes in its original box, enhancing its desirability.

Art doesn't have very many rules. But it does have one immutable law. It must be beautiful. This truism might seem obvious to the casual observer, but the world today doesn't always make sense.

As an example, let's briefly examine Jackson Pollock's well-known drip painting in the abstract expressionist style, No. 5, 1948. The work is a confused jumble of earth-tone paint splatters interspersed with random splashes of yellow. To say that the oil on fiberboard painting is difficult to appreciate is a bit of an understatement. In fact, it looks more like the unfortunate outcome of a sick child projectile vomiting his baseball stadium meal of a hotdog, soft pretzel and coke than a work of art.

And if abstract expressionism's lack of aesthetic appeal wasn't enough to deter you, prepare for sticker shock. This particular Jackson Pollock - No. 5, 1948 - last sold in a private sale via Sotheby's auction house in 2006 for a mind-boggling $140,000,000.00. That is 14 followed by 7 zeros, or $140 million dollars.

And if you're still interested, keep in mind that the traditional art market is over-run with fakes. It would take decades of intense study to acquire the knowledge necessary to reliably distinguish a genuine Jackson Pollock work from the legions of forgeries being peddled by con artists. In fact, even the experts can't agree among themselves if some well-known works can legitimately be attributed to Pollock or not.

Wouldn't it be nice if the aspiring art collector had an alternative to buying absurdly priced, frequently counterfeited, abstract paintings of dubious artistic merit? Well, there is another option: antique European art medals. Medals, which resemble large presentation coins, are typically composed of bronze, silver-plated bronze, silver or vermeil (gold-plating over solid silver). Unlike commemorative coins they have no stated face value and are not legal tender.

Although medals have been struck throughout the world, the most attractive and collectible examples originate from Europe. Pieces from as early as the 18th century can be readily acquired, although their artistic zenith occurs from the mid 19th to the early 20th century.

Europe underwent dramatic political, social and technological changes from circa 1850 to World War II. On the one hand, scientific advancements propelled the continent forward at breakneck speeds. First railroads, then cars and finally airplanes connected Europe as never before while the advent of electricity ushered in an age of glittering, sophisticated cities.

However, at the same time Europe was still hopelessly anchored to its medieval past. Kings, emperors and monarchs of every description ruled over almost every nation on the continent. The aristocracy not only still existed, but believed itself to be the ordained political elite by virtue of ancient lineage and feudal legacy. All these cultural crosscurrents combine vividly on antique European art medals, bringing this tumultuous time of rapid change to life.

Antique German Silver Art Medals for Sale on eBay

Art medals are often large, with dimensions occasionally exceeding 50 millimeters (2 inches) in diameter and 62 grams (2 troy ounces) in weight. This results in extremely impressive works of art that can be substantially larger than a U.S. silver dollar. These generous sizes make medals a perfect medium to express the engraver's art, allowing the artist to fully explore the subject over an unrestricted expanse.

As presentation pieces, medals are usually struck with extremely detailed designs in very high relief. They rarely suffer from flaws - like weak strikes - commonly found in mass-produced, circulating coinage. Medals also excel as miniature works of art because they are typically struck in very limited quantities and receive minimal wear. This contrasts sharply with regular coins, which are minted by the million and often experience very heavy wear due to circulation.

Antique French Silver Art Medals for Sale on eBay

Like any legitimate work of art, very high quality medals were oftentimes signed by the artist. Many of the best known medalists were French, reflecting France's leading position as an engraving center in the 19th century. This isn't surprising considering France's world-wide reputation for producing art of the highest quality.

In addition to their typical round format, some of these French masterpieces were struck in rectangular shapes known as "plaques" or "plaquettes". French medals, as well as other European medals, echo the grandeur and confidence of the continent's assorted empires and kingdoms during its cultural apogee of the late 19th and early 20th centuries.

European medals feature a wide variety of subjects from important historical figures such as kings, queens and emperors to prosaic pastoral scenes of cows and fields. Mythological themes and national personifications also make prominent appearances. A topic often encountered in medals from Germany and Switzerland was shooting competition awards while France was famous for its wedding medals. Pieces celebrating royal coronations were created in almost every European nation.

Medals can be found commemorating an almost endless number of subjects in a myriad of styles - everything from aeronautical motifs in sleek art deco minimalism to Napoleonic busts rendered with staid neo-classical realism. A striking collection could be built around country of origin, theme or style of art, to name just a few. Medals really are a garden of earthly delights for the discerning, yet cost conscious, art aficionado.

Antique French Plaque Art Medals for Sale on eBay

When investing in antique European art medals, size matters. As a general rule, the larger the medal the more desirable it is. The kind of metal used in a piece is important too. Examples in bronze usually sell for somewhat less than equivalent medals in silver. Sometimes pieces are even found with their original presentation cases intact which increases both desirability and resale value.

As with most antiques, damaged or excessively worn medals should be avoided. Eye appeal is paramount. Medals that feature certain popular subjects - like cars or railroads - usually trade at higher prices than their more mundane counterparts. Occasionally medals are certified by a third-party grading service. This is beneficial as it ensures a medal's authenticity.

Antique NGC Certified Swiss Silver Shooting Medals for Sale on eBay

One would expect a medal struck for the 1897 Diamond Jubilee of Queen Victoria to command a rather large premium. Such a historically important item not only boldly proclaims the opulent glory of the late 19th century British Empire but also simultaneously exhibits the pinnacle of the engravers art. Surprisingly, however, these specimens can be had for under $200. Other fine European medals in both bronze and silver can be purchased for $60 to $300. However, even the very largest and finest medals rarely exceed $500.

This means that a stunningly beautiful collection of one or two dozen impressively sized medals could be acquired for only a few thousand dollars. In an art world dominated by ugly $140 million dollar abstract paintings, European medals represent a secret oasis of reasonably priced, accessible beauty.