1 Ashrafi - Mir Usman Ali Khan

Mir Usman Ali Khan, the last Nizam of Hyderabad, struck this gold ashrafi during the final months before Indian military intervention — Operation Polo, September 1948 — forcibly ended Hyderabad's independence. The coins dated to this period were authorized while the Nizam was still negotiating, stalling, and appealing to the UN for recognition as a sovereign state. He never got it.

Hyderabad's own mint continued operating into 1949 under Indian administration during the transitional period, which accounts for the date range straddling the annexation.