India, Privat Issue of the Company Manilal Chimanlal & Co., 25 Tolas

Storing precious metals has always been a popular hobby in India. This is why there are a multitude of smelters and jewelers producing jewelry and ingots for retail sale in India. This bar was cast by Manilal Chimanlal & Co., as the inscriptions in English and Hindi on the obverse reveal. It is not an actual ingot, but rather a form of private asset that can be exchanged into gold or currency at any bank and at any time. The value is given in tolas, a unit of weight that is commonly used by Indian banks and other forms of financial institutions since the early 20th century. One tola weighs 11.66 grams (0.41 ounces) – this bar of 25 tolas thus has exactly 291.6 grams (10.28 ounces). The obverse shows the silhouette of the Indian subcontinent and the reverse the Gateway of India, a monument in Mumbai.