We've often written about the increasing interest in the collectibles of China, Russia and India by their populations. However, these interests are not evenly spread, and until recently Indian numismatic collecting was lagging behind the impressive results from the other two countries.

Now a break-through seems to have occurred, as Arvind Kumar, a Bangalore-based businessman, has paid a total of Rs 13 lakh ($25,900) for a William IV Double Mohurs coin.

Of course coins and stamps of the British Empire have always had a particular draw for some Western collectors, but this is believed to have been the highest price ever paid for a coin in India.

The King William IV Double Mohurs gold coin

Nevertheless, Kumar says he was prepared to pay more - perhaps up to Rs 15 lakh.

The 1835 coin is 32 mm in size and consists of 23.32g of gold. Its exact population is not known - 1,300 were originally minted, but many have not survived and it is now described as extremely rare.

The obverse has William IV facing right, accompanied by 'R.S.' - the initials of Robert Saunders, Calcutta's Mint Master from 1826 to 1836. On the reverse is a lion facing left in front of a palm tree, with the legend 'East India Company'.

The value of the coin is given in both English ('Two Mohurs') and Persian ('Do Ashrafi').

Collectors of rare William IV coins will now be wondering where their next opportunity to add to their collection will come from.

Our very own King William IV Proof Crown coin

Well, if that's what you're thinking, you're in luck: an 1831 William IV Proof Crown coin has recently come into our stock and is available right now! Click for more details.