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Historically, most coins issued in Pakistan have reflected the coins of its Afghan and Indian neighbors. Afghani silver bent-bar coins were issued in the fourth century BC and Indian punch-marked silver and cast-copper coins were issued in the second century BC. The Scythians, Parthians and Kushans also issued Greek-style coins between the second century BC and the Sasanian Conquest in AD 224. The Huns replaced the Sasanians in the fourth century, and the Turks replaced the Huns in the seventh century.

Northern Pakistan fell under Islamic rule during the reign of Mahmud of Ghazna (997-1030). The Ghaznavid Dynasty issued coins with Arabic on one side and Indian Nagari cript on the other. The Ghorids ruled Pakistan from 1150 to 1203 when the Delhi Sultans established their rule over Pakistan. The Mughals conquered Pakistan in 1526 when Babur, defeated the Sultan of Delhi. During the 1750s Pakistan was seized from the Mughals by the Afghans under the first Durrani king, Ahmad Shah (1747-73). The British occupied Bakkhar in 1843 and from then on, Pakistan was under British control. On November 1, 1858 the British government took over the rule of India from the British East India Company. Pakistan gained its independence from British India on August 14, 1947, and East Pakistan declared its independence as the People's Republic of Bangladesh on December 16, 1971.

The British tried to bring some order to the monetary chaos as they consolidated their control over India. The British standardized the silver Rupee (INR) throughout India, and made it divisible into 16 Annas, 64 Pice or 192 Pie. It took 15 Rupees to get 1 Mohur. Its value fluctuated, relative to the British Pound, as the values of silver and gold fluctuated. The Treasury of the Government of India issued banknotes until 1943. The Reserve Bank of India was set up in April 1, 1935 and took over responsibility for issuing banknotes.

The East India Company made the Madras rupee of the weight established in 1818 the standard for all of India; it was therefore called the "Company's rupee." Calcutta (sicca) rupees ceased to be legal tender as of January 1, 1838 (East India Company, Act No. 13 of 1836). The 1835 act also provided for coining the gold mohur, which was done beginning September 1, 1835. East India Company, proclamation of January 13, 1841, explicitly allowed mohurs to be used in paying the government, though they were not legal tender for paying private persons. The effect was to make India quasi bimetallic at a ratio of 15 units silver =1 unit gold. Gold mohurs ceased to be legal tender on December 1, 1853 putting India on a silver standard. In 1862 the coinage was transferred from the East India Company to the Indian colonial government (India, Act No. 13 of 1862). In 1876, the government of India was allowed to admit coins of native states as legal tender upon certain conditions (India, Act No. 9 of 1876).

The British standardized the silver Rupee (INR) throughout India, and it became the principal medium of exchange. Its value fluctuated, relative to the British Pound, as the values of silver and gold fluctuated. The Rupee fluctuated between 27 pence in 1870 and 16 pence on June 26 1893 when India effectively went on the gold standard. The Indian Coinage and Paper Currency Act, No. 22 of 1899 established a Pound Sterling exchange standard, giving legal tender status to British Gold Sovereigns. Banknotes were issued by the Government of India from 1861 until 1937, and by the Reserve Bank of India from 1937 until 1948.

The Pakistan Rupee was introduced on April 1, 1948 at par with the Indian Rupee. The Pakistan Rupee was divided into 16 Annas until 1961 and 100 Paisa from 1961 on. The State Bank of Pakistan and the Pakistan Government issue banknotes.

Here is a 50 Rupee note printed in 1964. This note is blue on multicolored underprint. The obverse features Mohammed Ali Jinnah. The reverse shows sailing ships. This note has 3 signature varieties, this note is 1 of them.

• Krause# Pick-P-22

This is a 10 Rupees note printed between 1972 and 1975. The note is green on multicolored underprint. The obverse features Mohammed Ali Jinnah. The reverse shows Shalimar Gardens, Lahore. There are 2 signature varieties for this note, this note is signature 1. I am unsure if this note should be attributed as 21a or 21b.

• Krause# Pick-P-21a or b

Here is a 1 Rupee note printed between 1975 and 1981. This note is blue on light green and lilac underprint. The obverse shows the Coat of Arms to the right and also as a watermark. The reverse depicts Minar-i-Pakistan monument. The P-24A note should not be confused with P-24. The differance between the two is slight. The P-24A note has a 22mm high panel and does NOT have the 4 language text along the bottom. The P-24 uses only signature 1, while P-24A uses signatures 1-3. I cannot read the langauage on this note, so i attributed it with some outside help. I hope it is correct.

• Krause# Pick-P-24A
• Signature: 1 - Abdur Rauf Shaikh

This 1 Rupee note was printed sometime after 1983. The note is dull brown on multicolored underprint. The obverse shows the Coat of Arms to the right and as a watermark to the left. The reverse shows the Tomb of Allama mohammed Iqbal and shows an Urdu text line at the bottom center. Serial number on the obverse upper center.

• Krause# Pick-P-27a
• Signature: 3 - Habibullah Baig

Here is a 1 Rupee note that was printed sometime after 1983. The note is dull brown on multicolored underprint. The obverse shows the Coat of Arms to the right and as a watermark to the left. The reverse shows the Tomb of Allama mohammed Iqbal and shows an Urdu text line at the bottom center. Serial on the obverse in thelower right corner.

• Krause# Pick-P-27l
• Signature: 9 - Javed Talat

This is a 1 Rupee note printed sometime after 1983. The note is dull brown on multicolored underprint. The obverse shows the Coat of Arms to the right and as a watermark to the left. The reverse shows the Tomb of Allama mohammed Iqbal and shows an Urdu text line at the bottom center. The serial number is n the obevrse in thelower right corner.

• Krause# Pick-P-27m
• Signature: 10 - Mian Tayeb Hasan

Here is a 5 Rupee note printed between 1976 and 1984. Two signature varieties exist, this note is signature 1. The note is dark brown on tan and pink underprint. Mohammed Ali Jinnah is featured on the obverse as well as the watermark. The Khajak railroad tunnel is depicted on the reverse. There is NO Urdu text line beneath the upper title on the reverse. This note has 2 signature varieties, this note is one of them which i 'think' is signature #11.

• Krause# Pick-P-28

This is a 10 Rupee note printed between 1976 and 1984. This note is pale olive-green on multicolored underprint. The obverse features Mohammed Ali Jinnah is featured on the obverse as well as the watermark. The reverse depicts a view of Moenjodaro on back. This note does NOT have an Urdu text line beneath the upper title on the reverse. This note has 2 signature varieties, this note is one of them which i 'think' is signature #11.

• Krause# Pick-29

Here is a note that is undated but printed between 1985 and 1999. The note is valued at 2 Rupees. The note is pale purple on multicolored underprint. The obverse features the coat of arms to the right sourounded by an ornate design, and text with the signatures in the center. The reverse depicts the Badshashi mosque. This mosque is often called the 'King's Mosque', is located in Lahore and is the second largest mosque in Pakistan and South Asia and the fifth largest mosque in the world. There is an Urdu text line beneath the upper title. There is a watermark on this note of the coat of arms.

• Krause# Pick-37
• Signature: Not Listed