The British East India Company These silver coins were made, or
'minted', in Madras, India, in 1807. They were made for the
British East India Company, the biggest trading company in the
world, which then controlled much of India. The Company had its
own army, and a fleet of sailing ships with cannon ('East
Indiamen') that carried tea, cotton, spices and other goods to
Britain. India had its own coins, such as the rupee and the
pagoda, issued by the princes who ruled the various Indian
states. The East India Company wanted new coins, machine-made
with 'milled' (cut) edges, like those we use today. Milling the
edges of coins made it harder for people to 'clip' bits off the
edges, for the precious silver. The new coins had to look
Indian, so people would use them. The Company decided to
'recycle' Spanish silver dollars, stamping each coin with a new
design. The Spanish coins, known as 'pieces of eight', were used
by traders (and pirates) all over the world. The silver in this
coin has its own story: it probably