Rare 1918 Indian Banknotes Recovered from Shipwreck to Be Auctioned in London

A pair of rare 10-rupee banknotes, salvaged as they drifted from a shipwreck during their journey from Bombay to London in 1918, are set to be auctioned next Wednesday. Noonans Mayfair, a renowned auction house in London, will feature these notes in their World Banknotes sale, with an estimated value between GBP 2,000 and 2,600. The notes were recovered from the wreck of the SS Shirala, which was torpedoed by a German U-boat on July 2, 1918, and are dated May 25, 1918.

Thomasina Smith, Worldwide Head of Numismatics at Noonans, explained, “Whole blocks of these notes, along with various supplies ranging from marmalade to ammunition, were en route from London to Bombay when the vessel was sunk by a German U-Boat. Many notes floated to shore, including unsigned 5 and 10 Rupees, and signed 1 Rupee notes—one of which is also featured in this auction. Most were recovered and destroyed by the authorities, with new ones printed to replace them. However, a very few remained in private hands.”

Smith noted that she had never seen such notes before, which only surfaced after the Bank of England highlighted the 1918 shipwreck on social media. “These are in excellent condition, likely preserved by being in the middle of a tightly bound bundle, avoiding contact with the sea. It’s also remarkable that they have consecutive serial numbers,” she added.

Another highlight of next week’s World Banknotes auction is a rare Government of India 100-rupee note from the British colonial era, estimated to fetch between GBP 4,400 and 5,000. This note is signed, stamped from Calcutta, and dated between 1917 and 1930, with the reverse featuring 100 rupees spelled out in various Indian languages, including Hindi and Bengali.

Additionally, a “Reserve Bank of India, Persian Gulf Issue” 5-rupee note, dated 1957-62 and featuring the iconic Ashoka emblem, is expected to sell for GBP 2,200-2,800.

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