Rare Bhutan Coin

Yep you need supply AND demand for your object you're selling

I am not surprised that Stacks or Bowers had no auction record. This is not a hot item, although I personally do not own one.

Compared to US coins of the same mintage, foreign coins such as this have a fraction of the demand.

@alexandercoins, rarity is a relative thing. You are right that there were 10,000 of these minted. In trolling around vcoins and elsewhere, I see the similarly-designed 1/2 rupee coins for sale, but not the 1 pice. Purely in terms of mintages, those are 5x to 20x more common and I think that this is consistent with the fact that there are some readily for sale. In looking at the prices in Krause, I see that your bronze coin has a 2x value over a similar silver 1/2 rupee . Interestingly, your coin is dated 1928, but was actually minted in 1931 and those half-rupees (also dated 1928) were minted in 1929, 1951, and 1955. These two facts (the lower mintage and the higher retail value) suggest to me that your coin is a little more rare than other coins that circulated in Bhutan in the mid-20th century. Super-rare? I thin knot, but yes a little rare.

Regardless, it is a nice coin from a place that most of us will never visit.

The fact that you don't find one on "heritage, bowers" generally indicates a LACK of rarity, supply or demand.

I found a reference where one similar to yours sold for $65 in 2012.

If you don't mind me asking, where did you "find" this coin?

Google IMAGES for 1928 bhutan coin. Click the first picture with both sides of the bronze coin shown.