1 Paisa - Chhatrapati Shivaji

This issue falls within the posthumous Shivaji-type coinage struck under Peshwa authority in the early nineteenth century — long after the empire Shivaji founded had passed from warrior chiefs to Brahmin administrators. By 1820, the Peshwas themselves were effectively finished: Baji Rao II's defeat at Koregaon in 1818 had ended Maratha political independence, leaving British paramountcy over the subcontinent largely consolidated. Coins bearing Shivaji's name continued circulating in the Deccan regardless, invoking a founder whose actual reign had ended 140 years prior.

KM#72 is one of several copper types that persist across an awkward transitional decade, struck under residual Maratha minting authority that the East India Company had not yet fully absorbed.