Saint Helena is a small island in the South Atlantic Ocean which is part of the British overseas territory of Saint Helena, Ascension and Tristan da Cunha. The currency of the island is the Saint Helena pound, fixed at parity with the pound sterling. The island has authorised some private mints to issue coins under its jurisdiction, which come in a variety of sizes - including in the very large silver ten ounces (10 oz silver) format, usually denominated as £10.
This rectangular coin has the same form factor as a silver bar, but is legal tender bullion issued by The East India Company (modern) to commemorate the history of the British East India Company.
The East India Company (EIC), also known as the Honourable East India Company (HEIC), East India Trading Company (EITC), the English East India Company or (after 1707) the British East India Company, was an English, and later British, joint-stock company founded in 1600. It was formed to trade in the Indian Ocean region, initially with the East Indies (the Indian subcontinent and Southeast Asia), and later with Qing China. The company seized control of large parts of the Indian subcontinent, colonised parts of Southeast Asia and Hong Kong after the First Opium War, and maintained trading posts and colonies in the Persian Gulf Residencies.
Originally chartered as the "Governor and Company of Merchants of London Trading into the East-Indies", the company rose to account for half of the world's trade during the mid-1700s and early 1800s, particularly in basic commodities including cotton, silk, indigo dye, sugar, salt, spices, saltpetre, tea, and opium. The company also ruled the beginnings of the British Empire in India. The company eventually came to rule large areas of India, exercising military power and assuming administrative functions. Company rule in India effectively began in 1757 after the Battle of Plassey and lasted until 1858 when, following the Indian Rebellion of 1857, the Government of India Act 1858 led to the British Crown assuming direct control of India in the form of the new British Raj.
Despite frequent government intervention, the company had recurring problems with its finances. The company was dissolved in 1874 as a result of the East India Stock Dividend Redemption Act enacted one year earlier, as the Government of India Act had by then rendered it vestigial, powerless, and obsolete. The official government machinery of the British Raj had assumed its governmental functions and absorbed its armies.
For more than 200 years, EIC ships relied on the safe harbour and supplies of St. Helena to make the trip between Britain and its ports in the East Indies. The company owned the island from 1659 until 1834.