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Auction: 25009 - World and British Banknotes Featuring the Cassia and Cedar Collections
Lot: 45

Bank of Madras, India - British, *TOP POP* specimen 3000 Rupees, 7th July 1854, serial number 3000,
Few banknotes could rival the fascination of this extraordinary specimen, not only for its immense denomination but also for the striking coincidence that its serial number exactly mirrors its value. Preceding the following lot of 1000 Rupees, this note stands as the opening highlight in the remarkable survival of high-denomination issues of the Bank of Madras, engraved by Perkins, Bacon & Petch in London during the mid-nineteenth century.

A sum of 3000 Rupees in the 1850s represented a vast fortune, many times greater than the lifetime earnings of ordinary labourers. Such a denomination was never intended for common circulation but for large-scale financial operations, reflecting the growing complexity of banking, commerce and colonial administration in southern India. In this sense, the note serves as a powerful symbol of the economic structures that underpinned the Presidency Banks and the wider British imperial system.

The design follows the dignified style of the series, centred on the equestrian statue of Sir Thomas Munro, Governor of Madras from 1820 to 1827, placed beneath the semi-circular title “BANK OF MADRAS.” The denomination is boldly expressed in the four corners, rendered in Arabic Siyaq (locally known as Raqm), English, Tamil and Telugu, illustrating the linguistic and cultural diversity of the region. The reverse and watermark adopt the restrained yet distinctive format characteristic of the issue.

This note’s combination of exceptional rarity, high value, and perfectly matched denomination and serial number makes it one of the most remarkable survivors of Presidency paper money, serving as a fitting prelude to the 1000 Rupees note offered in the next lot.
(Pick S153Cs), in PMG holder 50 About Uncirculated, selvage included, printer's annotation, pinholes, the sole banknote of this type graded to date by PMG

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Sold for
£130,000

Starting price
£17000