Stamps (Philately)/denominations

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Question
Hi Prashant
I realize your specialty is Indian stamps but maybe you can help. I believe Bhutan used Rupees until introducing their own currency; 100 Chetrums = 1 Ngultrums in 1974.
So how come Bhutan's first postage stamps issued in 1962 are in Chetrum and Ngultrum values?
Regards  Paul

Answer
Hi Paul,
Thanks for your query.
As per my information, Bhutanese coins were in existence since the end of the 18th Century and were known as Chetrum. In the mid 1950's, during the reign of the third King, Druk Gyalpo Jigme Dorji Wangchuck, the economy of Bhutan started to become monetized.

Before 1957 Indian and Bhutanese coins were circulated in Bhutan in non decimal paisa and rupee denominations (1 rupee = 64 paisa).

In 1957, Bhutan followed India in decimalizing, with the rupee subdivided into 100 naya paisa. The rupee was replaced by the Ngultrum at par. (100 chetrum = 1 ngultrum).

In 1954, Postal fiscal (revenue) stamps were issued by Bhutan. They were issued in Tibetan currency - Trangka & Sang – with values:  1 (blue), 2 (red), 4 (green) and 8 (orange). The equivalents in modern values are 25 and 50 chetrum & 1 and 5 Ngultrum (the Bhutanese currency is at par with the Indian rupee).  Later they were approved for postage on 1 January 1955. But these postal fiscals had no postal validity outside of Bhutan.

First stamps issued on October 10, 1962, were denominated in Bhutan's new decimal currency (chetrum & Ngultrum). However, the coins and banknotes were not available until sometime in 1966. In 1968, the Bank of Bhutan was established as a further step towards full monetisation.
Official adoption of Bhutan's currency could be in 1974.

Hope above information will be helpful to you.
Regards,
Prashant

Stamps (Philately)

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Prashant H. Pandya

Expertise

I can answer queries related to Modern Postal History of India, Indian Postal Stationery, Baroda and Rajpipla State Postal History and fiscals. Please no questions about valuation of stamps or any philatelic material.

Experience

Involved in philatelic activities for more than 30 years. As a collector I have actively participated in State, National and International level Philatelic Exhibitions, writing articles on various aspects of philately. I am also a web master and maintaining philatelic web sites for the promotion of philately.

Organizations
President: Baroda Philatelic Society
Moderator : Indian Philatelists' Forum (A web based e-group promoting Indian Philately. - http://groups.yahoo.com/group/indianphilatelists/)
Secretary: Philatelic Congress of India
Member:
India Study Circle for Philately, U.K.
Association International des Journalistes Philatéliques (AIJP)
Philatelic Webmasters' Association
Volunteer Editor for dmoz.org (Editing Recreation/Collecting/Stamps Category)

Publications
1. Vadophil- Quarterly News Bulletin of Baroda Philatelic Society (Also an editor of the journal)
2. India Post - Journal of India Study Circle for Philately
3. Ind Dak
4. GPA Newsletter
5. A Guide to Modern Indian Postal Stationery, Vol. I (Envelopes)
6. Various Philatelic Souvenirs published during philatelic exhibitions.
7. www.indianphilately.net - Website for the promotion of Indian Philately

Education/Credentials
B. Sc. (Microbiology)

Awards and Honors
Have won Silver, Large Silver, Vermeil and Large Vermeil medals with special prizes for my collections on Postal Stationery of India, Philavision, Shahastrabdi (Millennium) and The Story of Milk at State, Regional, National and International level.


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