Thursday, April 30, 2026
Earliest of Bhutan's Milled Coins: "Sa Zungtang" of 1950 & 1955
Thursday, April 9, 2026
Histories That Enthrall and Amaze
Wednesday, December 3, 2025
Flawed History
Tuesday, September 2, 2025
Confusion, Confusion, Confusion!
The image you sent me is the reverse of Bhutan’s earliest milled silver coins. As you know, Bhutan’s first two milled silver coins were both issued marked with the date – “Sa Druk Lo” (Year of the Earth Dragon), and denominated “Ja Trum Chet” – meaning “Half Indian Trum” or “Half Indian Coin”.
Thus, since both the coins were issued with identical markings on the reverse, it is not possible for me to determine if a coin is one of 1929 or 1930 - by simply looking at a coin's reverse alone - you need to send me the image of the coin's obverse - because it is from the obverse that I can tell you which year the coin was struck.
Further, as mentioned in my earlier mail of 2022, while the coinage year/year of release was marked as “Sa Druk Lo” corresponding to 1928 in the Gregorian calendar, the Annual Reports of the Director of the Mint, USA records that the silver coins were actually struck in 1929 and 1930 – NOT IN 1928 and 1929 as is popularly assumed.
It is my belief that the year 1928 is featured on the coins – because, possibly, the Bhutanese artist who prepared the designs of the coins had actually prepared the designs in 1928 and released them to the English Master Engraver - Mr. A P Spencer - for preparing the coins' dies. But it is clear beyond doubt that the coins were definitely struck in 1929 and 1930, as evidenced by the American Mint’s Annual Reports of 1929 and 1930. The Reports under reference is so exacting that it even gives the total monetary value of the total mintage - in US$ terms!!
Please also remember that the first 20,000 pcs. of silver coins of 1929 had a design flaw on its obverse … so another 30,000 pcs. were ordered to be struck in 1930 - in an effort to correct the flaw. Sadly, while the design flaw of the coin’s obverse was corrected, the Mint Master at the British India Government’s Calcutta Mint forgot to change the reverse die … so even the 1930 silver coins were struck with the same year “Sa Druk Lo” although it should have been marked “Sa Drue Lo” (Year of the Earth Snake).
I hope this helps.
Bye and take care
Yeshey
Thursday, July 24, 2025
Bhutan’s Coining Journey: Koch Kingdom’s Connection
Tuesday, March 25, 2025
Dating The Death Of Pemi Tshewang Tashi
- The central government in Punakha had to intervene to negotiate a settlement between the warring Jakar Dzongpoen Tsundru Gyaltshen and Trongsa Poenlop Jigme Namgyel - consequent upon Jigme Namgyel refusing to surrender the post of Trongsa Poenlop. Within the terms of the truce - the post of the seat holder of Jakar Dzong was elevated to that of a Poenlop as of 1857. Thus, in my opinion, Pema Tenzin would have been designated as a Poenlop and not as a Dzongpoen - particularly considering that he was Desi Jigme Namgyal’s brother-in-law.
Friday, March 21, 2025
The Magnificent Norzang Phoobchen
Thursday, January 30, 2025
Recording History: No Casual Matter
Is the image on the obverse of the coin really a Neoli (mongoose)?
I am inclined to believe that the image is most likely that of a Neoli. The reason is that the Neoli depicted on the obverse of the Neoli Maartang is shown spewing Norbu (jewels). This is how the Neoli is portrayed on the Bhutanese/Tibetan Thangka - being held in the left arm of the Buddhist mythical God of Wealth—the Zambalha, as seen below:
Thangka painting of Zambalha, the God of Wealth.
Given the uncommon design of the Neoli Coin, I am also doubtful that the coin is really a coin. Can it be that it is not a coin but an Exonumia?
Exonumia are numismatic items that include all kinds of coin-like items, but are not actual coins; they are not issued to serve as money nor are they used in monetary transections. They are rarely, if ever, issued by national governments. They are more popularly known as Temple Tokens. Many countries and cultures around the world produce them. In India, where our coins originate, most of these coin lookalikes are called Ramtanka. The following are some examples of exonumia:
Exonumia from India and France
Here's another telling fact: the Neoli Coin has a monolithic front with one solitary image on its obverse—unlike all Bhutanese coins, which bear multiple figures/motifs/alphabets on both their obverse and reverse, as seen here:
Traditional design of Bhutanese coins. All of them have multiple motifs/alphabets/conjuncts — both on the obverse as well as on the reverse.
The coin collector and historian Mr. Nicholas Rhodes, in one of his journals titled “Coinage in Bhutan” which was submitted to the Centre for Bhutan Studies, asserts that the Neoli Coin may have been struck at Bhutan House, Kalimpong by the Dorji family. He writes:
Machine struck coin's Edge & Rim.
I know of no other Bhutanese coin – other than the Neoli Coin that is under discussion here that bear the image of mongoose on it. But Mr. Wolfgang Bertsch of Germany, recognized as one of the most established historians and collector of Tibetan currency brought to my notice that Tibet did issue a coin that bore the image of a pair of mongooses on it:
The Tibetan 10 Srang coin issued in 1950 bearing, what is believed to be, a pair of mongooses on its reverse. The above coin is in the collection of retired Ambassador Tobgye Sonam Dorji
So where does all this confusion lead me? As of now, I am undecided as to what the Neoli Maartang really is: a coin or an exonumia. I will have to wait and see if more substantive findings emerge in the coming months and years. Until the matter is settled, I will be content to simply admire the Neoli Coin’s beauty, history—and mystery.





































