1 Rupee - Daulat Rao

Daulat Rao Scindia inherited Gwalior at sixteen following the assassination of his father Dhan Ji Rao in 1794, and spent the first decade of his reign in almost continuous warfare — against rival Maratha chiefs, against the Nizam of Hyderabad, and ultimately against the British in the Second Anglo-Maratha War of 1803. Coinage struck under his name during this 1794–1802 window predates his catastrophic defeat at Assaye and Laswari, after which the Treaty of Surji-Anjangaon stripped Gwalior of its most productive northern territories.

The Scindia mints operated under considerable instability during these years, with output fluctuating sharply as military campaigns disrupted both silver supply and administrative continuity.