1/4 Ashrafi - Mir Usman Ali Khan

Hyderabad under Mir Usman Ali Khan, the last Nizam, was one of the wealthiest states in British India — possibly the wealthiest entity on earth by some contemporary estimates. The princely state maintained its own mint, currency, postal system, and railway, operating with a degree of financial autonomy that few nominally subordinate territories ever achieved. Gold coinage continued being struck at Hyderabad long after most Indian princely states had abandoned the practice.

This fractional Ashrafi was minted across a span that ended not with monetary reform but with military force: the Indian Army's Operation Polo in September 1948, which absorbed Hyderabad into the Indian Union within five days.