Here is a Madras Presidency Regulating Dub, dated 1807.
This is a unique denomination, minted to adjust payments made in copper dubs and fanams instead of the rupee.
This coin, along with 3 copper Dubs, was set to equal 1 Fanam. There were initially only Rupees, fractional rupees, and gold coinage that were mainly used. The British wanted to use more copper coinage and came up with Half Dubs and Dubs and in addition, fanam, double fanam and five fanams.
There were already dubs and half dubs of a different kind that were being used, where 1 Dub was 1/48 Rupees and they adopted the same valuation for dub to rupee conversion. However, to have the correct Dub to Fanams conversion, they had to introduce the regulating dub as 4 copper dubs were more valuable than 1 Fanam. So they made this regulating dub, so that 3 copper dubs and 1 Regulating dub, would be equal to 1 Fanam!
The legends on the Obverse of the coin are in Tamil & Telugu
Tamil – Idhuvum Munu Pudu Dabbum Oru Chinna Panam
Telugu – Idhinni Moodu Kothha Dabbulunna Oka Chinna Ruka
On the Reverse, it reads, A Persian Inscription in four lines: In Sikka Hanarabal Kampani seh fulus yek falam-i-Khurd ast. Isavi 1807 = this coin of the Honourable Company and three fulus are one small fanam. Christian year 1807.
The weight of this coin ranges from 7.40-7.61gms with a diameter of 26.4mm
Image courtesy: APR who is a fine collector of the presidency series.
Description: STEVENS 3.367 & PR 336.