1 Rupee - Farrukhsiyar Bhudargad

Bhudargad was a Maratha hill fort in the Kolhapur region, and coins struck there — nominally in the name of the long-dead Mughal emperor Farrukhsiyar — reflect a fiscal fiction that persisted deep into the eighteenth century. Farrukhsiyar had been blinded and strangled in 1719, yet his name continued authorizing coinage across dozens of mints for decades afterward. The Marathas, like other successor powers, found it politically convenient to maintain the pretense of Mughal monetary legitimacy while exercising real sovereign control over the metal.

By 1778, the Bhudargad mint was operating under the Kolhapur branch of the Chhatrapati line, a house frequently at odds with the Peshwas in Pune.