Historical Sketch

In the first half of the 17th century, Danish settlements were founded in India and Ceylon initiated by the Danish East India Company and its successors. In 1779 the Danish state took over the possessions after the Danish Asiatic Company had defaulted. At that time, the colony consisted of the settlements at Tranquebar (South India), Serampore (Bengal) and the Nicobar Islands. All three possessions were sold to Britain until 1868.

Monetary History Overview

In the Danish possessions, accounting was done in the local Indian standards. At Tranquebar (today's Tharangambadi) the South Indian Pagoda standard in gold was common. A local mint issued crude subsidiary coins in copper and silver, but also coins from neighbouring Indian states and French and English South East Indian settlements were accepted in payments. In 1818, neighbouring Madras Presidency of the English East India Company switched to the silver Rupee standard. The Danish colonial government followed suit, but the local mint continued to produce coppers in the Pagoda system.

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