BRITISH INDIA: George VI, 1936-1947, AR rupee, 1939(b), KM-555, Y-57, S&W-9.13, Prid-235, reeded edge type, a pleasant example with bright original luster, one of the greatest rarities of British Indian coinage, and in a remarkable state of preservation! NGC graded MS61. The British Indian Government stopped minting the 1922-dated silver one rupee coins in 1923 according to mint records, and never authorized another one rupee coin for circulation until more than 15 years later. This meant that the British Government had not resumed production until late 1939 or January 1940, when the 1938 one rupee coins were minted and released. The only reason new coinage resumed in 1939 was because of the increase in commerce in India from World War II. The majority of the 1938 one rupee issue was minted in the year 1940, and "a small quantity 1938 coins were minted in the end of 1939," as noted by Pridmore. It was not possible to strike the 1938 one rupee with the Type II obverse any sooner than late 1939. It is likely that the 1938 one rupee mintage was issued in its entirety, but that’s not true for the 1939 one rupee. It had been speculated that the actual number of coins struck for the 1939 one rupee was between 7,500 to 10,000 coins with a survival rate of 1% to 2% making it one of the greatest rarities of British Indian coinage!
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