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1/4 Dollar - Penang
| Issuer | British East India Company |
|---|---|
| Year | 1788 |
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| Composition | Log in to see details |
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| Orientation | Medal alignment ↑↑ |
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| Obverse description | Central design featuring a heart-shaped cartouche formed by two interlocking diagonal bands, enclosing the initials 'EIC' (East India Company) in bold relief. The numeral '4' appears above the cartouche and the date '1788' is divided to either side, with '17' to the left and '88' to the right. A six-pointed star mint mark is positioned below the cartouche in the lower field. The overall composition is rendered in a bold, primitive engraving style characteristic of early Penang colonial coinage. |
|---|---|
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| Reverse script | Arabic |
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| Additional information |
The Penang coinage of 1788 was among the first currency officially struck for a British settlement in Southeast Asia — Prince of Wales Island (modern Penang) having been ceded by the Sultan of Kedah to Francis Light just the year before. The East India Company authorized a local coinage almost immediately, an unusual move that reflected the settlement's intended role as a free port rather than a purely extractive trading post.
KM#6.2 is distinguished from the related 6.1 variety by its die characteristics. Light himself was reportedly the driving administrative force behind getting coin into circulation quickly, as barter and a chaotic mix of foreign specie had dominated the port from its founding.