1 Paisa - Ahmad Shah [Raghuji III]

Nagpur's coinage during this period reflects a state caught between two powers. Raghuji III ruled under increasingly tight British paramountcy following the Third Anglo-Maratha War of 1818, which effectively ended Maratha political independence. The "Ahmad Shah" attribution on these pieces refers to the nominal Mughal imperial authority still invoked on Maratha copper issues long after the Mughal emperor held any real relevance — a convention preserved largely by inertia.

When Raghuji III died without a natural heir in 1853, the British applied the Doctrine of Lapse and annexed Nagpur outright, ending the coinage entirely.