1862 Rupee Authenticity?

0xDA71D - Interesting example. I think that it is an authentic 1862 Zero Dots Madras mint example. However, I think that it was buried and excavated. It probably had extensive corrosion, which was then harsly cleaned (unfortunately, many dealers in India damage coins through abrasive cleaning). The flatness of the reeds may indicate that it was in a bezel and worn as jewelry at some point.

I've been collecting Indian Rupees for about 15 years now. And there was very little interest in the US until pretty recently. One used to be able to buy AU Victorian rupees for spot as recently as 2000-2005 or so. And they were subject to being made into coin jewelry or just generally abused because they were aesthetically-pleasing, not collected by many in the US, and the Krause books did not list them as having much value (Krause essentially kept its Indian coin prices static from the 1990s until about 2012). While one can still get good deals (especially on princely state & pre-colonial coinage which do not feature English text) from dealers who are ignorant of Indian coins, increased collecting in Indian and Britain has resulted in Rupees suddenly bringing higher prices.

0xDA71D - Sure thing!
Your coin is KM#473.1. It can be a bit tough to give the exact ID of some 1862 Rupees. But this example is Madras mint given that it is reverse type one. (Reverse types are based upon the style of the flower at the 12 o'clock position right above the word "one."). Reverse type one only appeared with the type A Bust (Bust types are based upon the details of the panels and particular pattern of vegital interlace design in Victoria's dress). This coin also has zero dots. Dots appear either right above the word "One" on the reverse or between the date an the flower at 6 o'clock on the reverse. Numismatists have long debated the exact meaning of the dots since mint records were spotty in India during this period. However, 1862 Rupees were minted from 1862 until about 1874. The general consensus is that each year beyond 1862, rupees received a dot. So an 1862 with 4 dots above the flower and below the date would be an 1866. (Krause tends to list dot varieties as 0/0, 1/2, 0/4, etc. These mean Zero dots above/zero lower, one dot above/two lower, zero dots above/four dots lower, respectively). This way of hiding the true date of the coin was due to the fact that these new rupees were introduced into parts of India which had previously used more traditional or Mughal-style coinages. Thus, many persons may have not trusted coins which they could not read and seemed to have variation in the date/text each year.
In sum, your coin is one of the more common types of 1862 Rupees. It was actually minted in 1862 at Madras.