MADRAS PRESIDENCY: AR 2 rupees, Arkat, AH1172 year 6, KM-404.2, East India Company issue in the name of the Mughal Alamgir II, PCGS graded XF45. On July 15, 1807 a Proclamation authorized a full range of silver coins, including this new denomination, a double rupee, to be struck for the Madras Presidency. All coins were to be made from silver obtained from imported Spanish dollars. Some original lettering and design elements from the Spanish host coins can be seen below the overstrike on many of this type. Dies for the smaller denominations were prepared at the Calcutta Mint, but the dies for the double rupees were made at Madras. The coins circulated alongside the pagoda standard pieces, which were struck until 1812. Both pagoda and Arcot rupee coinages were replaced by a new rupee standard in 1817.
Estimate: USD 800 - 1000