1 rupee 1935

Common. Despite the historical significance of this early Reserve Bank of India issue, the 1 Rupee denomination was a high-circulation value note. eBay price tracking data shows consistent sales activity across multiple condition grades (VF to UNC) spanning over a decade, with PMG 65 examples selling in the $275-$338 range historically, indicating regular collector availability. Current catalog values (2016) list UNC at $450, suggesting this is a collectible but widely available note rather than a scarce issue.

Issued in 1935 under the Government of India during the British Raj period, this note represents the transitional phase of Indian currency administration under the newly established Reserve Bank of India (founded 1935). The prominent portrayal of King George V and English language inscriptions alongside Devanagari and other Indian scripts reflects the bilingual and bicultural nature of colonial Indian governance during this era.

The obverse features a right-facing profile portrait of King George V wearing formal attire with crown insignia, positioned on the right side of the note. The design incorporates an ornamental decorative border frame, a geometric diamond/star pattern in the center cartouche, and multi-script text fields on the left acknowledging Government of India authority. The reverse displays a large circular ornamental seal or medallion in the upper left containing governmental emblem work, with the denomination and date (ONE RUPEE INDIA 1935) centrally positioned within decorative radiating line patterns. The overall palette is pale cream/beige with green-gray and gray printing, characteristic of the security printing aesthetic of this period.

Front Side: 'GOVERNMENT OF INDIA' (English), 'ONE RUPEE' (English), signature 'J.W. Kelly' (English - likely the Finance Secretary or authorized signatory), with additional text in Devanagari and other Indian scripts indicating currency denomination and administrative information. Back Side: 'ONE RUPEE INDIA 1935' (English), Serial Number 'F/70 2J4056' (where F indicates the prefix, 70 represents the denomination code, and 2J4056 is the sequential serial number).

Intaglio engraving (line engraving), evidenced by the fine, crisp line work visible throughout both obverse and reverse, the ornamental border patterns, and the detailed portrait rendering of King George V. The precision of the geometric patterns and the sharp definition of all textual elements indicate professional security printer work, likely executed by the British security printer responsible for Reserve Bank of India currency during this period (De La Rue or similar contemporary security printing house).

This specific example is Pick 14b (not 14a), indicating it belongs to the second variety of the 1935 1 Rupee issue. The serial number prefix 'F/70' and the signature of J.W. Kelly are notable identifying features. The note shows no perforation on the left edge, indicating it was not issued from a booklet (booklet issues from 1935 show left-edge perforations and represent a distinct sub-variety). The 'Text & Star' watermark noted in the PMG certification is consistent with standard RBI security features of this period.