Star above JAVA, date (1812) and mintmark (Z) below / "B" above VEIC bale-mark. 20mm, 1.58 grams. Krause #240a.
This is a very crude local issue - these coins are crudely struck and are usually found corroded and worn. These coins are very rare in such quality.
The Dutch Indies fell to the British in 1811 and remained under the British administration until 1816, when the territories were returned to the Dutch. The coins were issued by the British United East India Company during this period.
In 1596, a four-ship expedition led by Cornelis de Houtman was the first Dutch contact with Java. By the end of the 18th century the Dutch had extended their influence over the sultanates of the interior (see Dutch East India Company in Indonesia). Internal conflict prevented the Javanese from forming effective alliances against the Dutch. Remnants of the Mataram survived as the Surakarta (Solo) and Yogyakarta principalities. Javanese kings claimed to rule with divine authority and the Dutch helped them to preserve remnants of a Javanese aristocracy by confirming them as regents or district officials within the colonial administration.