The March Of Money: Part III

Records of Bhutan’s earliest coinage are none existent. However we can make some educated conjectures. We know from the notes made by the Bengali Moshai Kishenkant Bose that there were mints already in existence much before his arrival in the country in 1815. Before that, records show that Bhutan used to strike coins in a mint in Cooch Behar.

Unfortunately, the British closed down the Cooch Behar mint in 1789 - leaving Bhutan nowhere else to turn to for minting coins. This provably forced Bhutan to start minting within the country. As reported in my earlier post, along with the Maharaja of Cooch Behar, the Bhutanese also carried away some dies. This twin incident occurred in 1772.

From records available, Bhutan’s earliest coin (copper) is dated 1790–1840. Thus I believe that the following is most likely Bhutan’s first domestic coinage:

Maartrum: Copper (1790-1840)

The historical records tie in nicely:

~  Dies from Cooch Behar were plundered in 1772, along with its Maharaja;

~  The British closed down the Cooch Behar mint in 1789; leaving Bhutan nowhere to turn to for minting;

~  The first coin that is said to be minted in the country is dated 1790-1840;

~  Kishenkant Bose reports the existence of mints in Bhutan much before 1815.

The following were the earliest of Bhutan’s coins. They were known as Deb 1/2 Rupee coins. They were all hammered coinage:

Ngueltam denominated at half a Rupee: Silver (1820 - 1835)

Maartrum denominated at half a Ngultrum: Copper (1835)

Maartrum denominated at half a Ngultrum: Copper (1910)

Maartrum denominated at half a Ngultrum: Copper (1910-1927)

In 1928, the second King finally gave up minting within the country and embarked on our first milled coinage - with the placement of order for 20,000 silver Thala coins - on Calcutta Mint, India.