1/4 Anna - Madho Rao

Gwalior's copper fractional coinage of this period was produced under Madho Rao Scindia, who ascended the gaddi in 1886 at age eight under British supervision. The Political Agent effectively administered the state through his minority, with the maharaja only assuming direct rule in 1894 — meaning these pieces were struck just as Gwalior transitioned from regency governance to nominal princely autonomy within the Raj.

KM#169 is one of several denominations Gwalior struck in copper during this window before the state progressively aligned its coinage with imperial British Indian standards.