In 1600 East India Company was founded, with the initial settlement in Surat in 1612. It had three broad grouping/presidencies: First Western India comprised of Bombay and Surat, with coins struck along Mughal as well as English patterns; Second South India comprising of Madras, with the coins struck South Indian lines both in design and metrology (Pagoda) and Mughal Style and ; Third, Bengal coinage developed along the Mughal pattern.

In 1717 AD the English obtained permission from the Emperor Farruksiyar to Coin Mughal money at the Bombay Mint. The gold coins were termed Carolina, the Silver Anglina, the copper coins Cupperon and tin coins Tinny.

A Coinage Act was passed in 1835 to issue uniform coinage. In 1692, first coin bearing a Persian inscription was issued, Aurangzeb got offended, due to which the experiment was stopped.

In 1717 the British got the right to strike their own rupees in the name of the Mughal Emperor.

In 1786, Matthew Boulton designed coin stamping machine, which could strike 120 coins per minute. In 1792, he made coins for East India Company i.e. 6 years before British Mint.

King William IV: EIC during his monarchy issued the coins with his effigy in all three Presidencies in all three metals Gold, Silver & Copper. In 1835, newly designed coins with effigy of William IV on the obverse and the value on the reverse in English and Persian were issued.

Victoria Queen: After the War of Independence in 1857, the government was transferred from the EIC to the Crown & in 1877, Victoria became Empress of India. The coins issued after 1840 bore the portrait of Queen Victoria. The first coinage under the Crown issued in 1862 & in 1877.

Edward VII: He suceeded Queen Victoria and the coins issued bore his effigy. The special feature of these coins is, all coins (except 1 anna 1906-1910) of them depict King Edward without a crown, due to the fact that the original dies of the coins were prepared before King Edward's Coronation, which happened in August 1902.

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3 Pies = 1 Pice

4 Pice = 1 Anna

16 Annas = 1 Rupee

15 Rupees = 1 Mohur