1 Payalo - George VI [Vijayarajji]

Kutch operated its own mint at Bhuj under treaty arrangements that persisted well into the British period, giving the state unusual numismatic autonomy for its size. The Vijayarajji issues — struck under the suzerainty acknowledgment of George VI — represent the final chapter of that independent minting tradition before the state's accession to India in 1948 effectively ended all princely coinage.

The payalo denomination is specific to Kutch's own currency system, which ran parallel to but distinct from British Indian reckoning.