Indonesia, Palembang, Sultanate, 1 Pitis – AH 1203 / 1789

Description

In 1568, when the Demak Sultanate was annexed by the Pajang sultanate, a noble family of Demak who flees to Palembang, established a new dynasty. It is at that time when Islam arrives in Palembang. The Dutch Eastern Indian company establishes a trade position in 1619 and in 1648 the monopoly gets. In 1812, the British depose the Sultan and put their brother in their place. The Dutch try to recover their power in the Plaza negotiating with the new Sultan, but by not getting it, they conquer the city leaving a detachment, abolishing the sultanate in 1821. The currency will be the tin Pitis, initially imitating the Chinese cash, which already circulated in the archipelago. The emissions grew a lot from 1710 when tin deposits were found in the sultanate. Emissions were reduced with British intervention, losing access to those deposits, and ending definitively with the Dutch annexation. These currencies were exchanged at a rate of 4000 by 8 reais, that is, approximately 12.5 for a Duit of the Dutch Indies.