The Indian rupee was the dominant currency used along the East African coast during the second half of the 19th century where it had marginalized the American gold dollar and the Maria Theresa thaler. The German East Africa Company acquired rights to mint coinage in 1890 and issued rupies which were equivalent to the Indian and Zanzibar rupee. The Company retained its coinage rights even after the takeover of German East Africa by the government later in 1890. In 1904 the German government took over currency matters and established the Ostafrikanische Bank.