PENANG: AE ¼ cent, 1787, KM-1, United East India Company bale mark // inscription in Jawi script jezirah ab-wailis (Prince of Wales Island), a lovely mint state example! PCGS graded MS63 BN, ex Joe Sedillot Collection. Issued by the Prince of Wales Island colony under British East India Company rule (1786-1805). Cents, ½ cents and ¼ cents were struck for Captain Francis Light at the Calcutta Mint the year after he founded the British colony of Penang. They were the second issue of copper coins for the island after the heavy undated uniface cents attributed to 1786. In Penang the standard coin was the Spanish-American silver dollar and these coins were valued at 400 to the dollar.
Estimate: $200-300