Nepal, high in the Himalayas between Tibet and India, and near Bhutan, was the oldest surviving Hindu kingdom until the early twenty-first century. Its coins have historically been silver-based.
Before the 1700s, there were various kingdoms in the general area of what is now Nepal. The Licchavi Kingdom (ca. 400 — 750), for example, made its own coins, though these are not often seen for sale these days. Later, the Rajputs of India ruled parts of Nepal, and later, after a brief-lived Muslim invasion in the 1300s, the era of the Malla kings began.
Malla kings
The Mallas had Bhatgaon as the center of their kingdom, which had its origins in the 1100s but rose to prominence in the fifteenth century. When King Yaksha Malla died in 1482, his sons divided up the area into three separate kingdoms, each of which issued its own currency: the Bhatgaon, Patan, and Kathmandu Kingdoms. (A fourth, the Banepa Kingdom, was established but quickly was absorbed into the Bhatgaon Kingdom.) It is difficult to find many coins for sale from these Malla kingdoms but they do tell the story of the prototypical Nepalese state. Silver mohars were the main type of coin, though a few gold coins were also made.
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Shah Dynasty
In 1768, King Prithvi Narayan Shah finally united the disparate kingdoms into Nepal, and began the Shah Dynasty which survived until modern times. Though the coins of the Shah Dynasty were used throughout this period, the royal family actually lost power in the 1840s, when the Rana family came to power and made the kings figureheads with no real power.
The Rana era
While the Rana Prime Ministers led Nepal from the 1840s until 1951, the coins continued in the tradition of the Shah kings’ coinage. During the Rana period, in the 1930s, Nepal decimalized its coinage, dropping the mohar and decreeing that one rupee = 100 paise. The Rana era ended in 1951, when the Shah kings took over once again.
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The end of the monarchy
In 1991, King Birendra (in power since 1972) was forced to declare that Nepal would now be a constitutional monarchy. In 2001, Birendra was murdered in a mysterious incident that is still controversial. Although a new king took power, Nepal banished the monarchy altogether in 2007, and became a modern republic. The full name of the country in English is now the Federal Democratic Republic of Nepal. New coins were issued under this new government.
Dates on Nepalese coins
Three different main dating systems have been used on the historical coins of Nepal. Conversion rules given below yield approximate dates (it’s actually more complicated than just adding or subtracting a number of years):
- Malla Era and from 2011: Nepal Samvat (NS) — Gregorian year – 880 years
- Shah Era: Saka Era (SE) — Gregorian year – 78 years [a.k.a. Shalivahana Era]
- After 1888: Vikrama Samvat Era (VS) — Gregorian year + 57 years
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Nepal rupee coins
Traditionally equal to 2 silver mohars, the Nepalese rupee became the main unit of currency in the early 1930s. This is when Nepal revamped its money system, decimalizing it into rupees and paise. Silver rupees are very often bought and sold in the Nepal rare coins marketplace these days. It has survived the upheaval of Nepal’s twentieth and (so far) twenty-first centuries, which saw its centuries-old Shah Dynasty come to an end, and is quite ubiquitous for these reasons.
Gold rupee coins, issued as commemorative pieces and for other collectors and investors, are seen from time to time as well. These can command some of the highest prices of any Nepalese coins for sale, a situation that’s true even for recent examples. Although the largest-denomination rupee coin used for general circulation is the Rs 10 coin, there are many denominations over this amount created as special issues. Rupee proofs and sets, of course, are of interest to many collectors.
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Nepal paisa coins
Nepal’s paisa coins have been made for centuries, and now are the subunit of the country’s main unit of currency, the rupee. Originally worth 1/4 dam, there are now 100 paise in one rupee, following the decimalization of Nepal’s money in the 1930s during the rule of the Ranas. (Note that the singular form is paisa while the plural is paise, but that sellers and others do not necessarily use these terms as intended.)
Paisa coins, having such a long history since the days of the Shah Dynasty, are quite ubiquitous in the marketplace for buyers these days. Traditionally made of copper, modern Nepalese paisa coins are made of several different metals, and all are available to the buyer with some determination to find what he or she needs.
Nepal proof coins
There are many Nepal proof coins for sale available at any given time within the Nepal coin marketplace. Collectors and investors and those in between can usually browse a significant selection. Earlier proofs, predating the 1930s decimalization, can sometimes be located and can include exotic denominations such as silver mohars, gold tolas, and asarphis.
Nepal coin sets
Most Nepal coin sets for sale are proof coin sets. Other special sets available from time to time include denominations other than the two modern ones, rupees and paisa. Current coins used in Nepalese general circulation range from 1 paisa to 10 rupees; a complete set of coins now would include these and seven in between, a total of nine for a complete set.
Nepal silver coins
Tucked into the mountains between India and Tibet, Nepal has long used silver as the main metal for its coins. For hundreds of years, including the Malla kings era beginning in the 12th century, Nepalese silver coins have been the main medium of trade (much more, for example, than gold).
A major focus for silver Nepal rare coins collectors is the mohar, a coin introduced around 1640 by the Shah Dynasty. Many, many variations and fractional denominations of this coin have been used over the centuries. Many of the subdivisions of the mohar have also been issued in silver, including the dam (1/128 mohar) and the tiny jawa, the smallest coin in history, equal to 1/512 mohar and issued by the Malla Kathmandu kingdom.
Silver Nepal coins are still made today, alongside the kingdom’s general-circulation currency, and include a wide variety of commemorative and other special collectors’ coins. Telling the Hindu history of this proud Himalayan kingdom, the silver coins of Nepal can not be separated from the coinage history of this area of Asia.
Nepal uncirculated coins
There are many uncirculated Nepalese coins from many different eras available in the marketplace. Modern uncirculated Nepal coins include regular-issue rupees and paisa coins, but also special commemorative pieces in a large variety of denominations and metals (including silver and gold). Also, older uncirculated Nepalese coins, including pre-decimalization silver mohars, are sometimes offered by various sellers. These can be some of the most hotly active listings in for sale sections.
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How to collect Nepal rare coins today
Collecting Nepalese coins appeals to anyone interested in the Hindu kingdoms and absorbing history of south Asia. Several gold and (especially) silver pieces are available at any time for eagle-eyed collectors.
