1⁄48 Rupee, Dub

The East India Company's Madras Presidency issues of the 1790s were minted under Matthew Boulton's Soho Mint contract, which fundamentally changed the mechanical precision of Company coinage at a moment when the Presidency was consolidating administrative control over southern India. The Dub — a denomination rooted in local monetary custom rather than imported British accounting — was retained precisely because bazaar transactions in the region depended on familiar fractional units that European denominations could not displace.

Pridmore lists two varieties for this date, distinguished by die differences in the exergue treatment.