1 Fanam - Madakari Nayaka II 1652–1674

Madakari Nayaka II ruled Chitradurga as a feudatory of the declining Vijayanagara successor states, a period when actual imperial authority had effectively collapsed following the catastrophic defeat at Talikota in 1565. By the 1670s, local Nayaka chiefs were striking their own gold in all but name independent polities, yet continued attributing issues to the Vijayanagara imperial framework — a political fiction that carried legitimating weight even a century after the empire's real power had evaporated.

Fanams of this type circulated widely in South Indian bazaar trade, their tiny fractional weight calibrated to local commodity exchange rather than any imperial monetary system.