The last trading monopoly of the East India Company was abolished in 1853 after which the company acted only as an administrative entity though it was not until 1858 that its property and powers were officially transferred to the Crown. Under the Indian Act XIII of 1862, the coinage of India was redesigned with specific provisions for coinage of the Straits Settlements to be redesigned also.
Coins were struck from 1862 to 1867 though all coins were dated 1862. The Quarter Cent is by far the scarcest of the three denominations with a mintage of just over 3 million. Being demonitized, a vast majority of that figure would have been destroyed leaving the issue very scarce, especially if sought in higher grades. Proof issues also exist though the rarely enter the marketplace and when they do their popularity always ensures strong demand.