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1 Paisa

Issuer Gwalior, Princely state of
Year 1793
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Thickness 4 mm
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Obverse description Hammered copper flan bearing Persian-script legends arranged in multiple horizontal registers across the field, separated by incuse lines. A crescent or floral device appears prominently in the upper portion of the field. The inscription, characteristic of Mughal-style coinage adopted by the Gwalior princely state, is rendered in bold, slightly irregular Nasta'liq calligraphy typical of hand-struck provincial issues. The overall design follows the conventional Mughal copper paisa tradition with the royal formula occupying the central field.
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Mintage 1793
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Gwalior in the 1790s was under the rule of Daulat Rao Scindia, whose reign saw the Maratha Confederacy at the peak of its territorial ambitions before the Anglo-Maratha Wars began dismantling it. Local copper coinage from this period served regional markets largely independent of Mughal monetary infrastructure, which had by then effectively collapsed.

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