This is the One Rupee note of 1957, signed by L.K. Jha and catalogued as A-11 and A-12. One rupee notes carry the signature of a Finance Ministry secretary rather than the RBI Governor. It is offered as a serial-wise packet or bundle rather than as loose notes, and examples of this issue are found both with an inset letter and without one. The "chocolate" and "milky white" labels are informal collector terms for the note's paper tone and preservation.
Early-issue one-rupee bundles are prized because a complete, in-order packet from the 1950s is difficult to find intact — most were spent or broken up long ago. An inset letter marks a particular printing run, so certain insets can be scarcer than others within the same year.
Actual value depends on the inset variety, the serial range and the grade of the notes, with clean, uncirculated packets sitting well above handled ones. Coinbazzar lists verified 1957 L.K. Jha packets from sellers, so you can view the exact bundle and its live price on this page.
