1 Rupee - Muhammad Shah Jaipur mint

Muhammad Shah's reign (1719–1748) coincided with the catastrophic Nadir Shah invasion of 1739, which stripped Delhi of an estimated 700 million rupees in treasure and bullion — effectively gutting the imperial mint's reserves. Provincial mints like Jaipur assumed greater practical importance in the aftermath, as the center's capacity to supply coinage to outlying regions collapsed. The Jaipur issues of this period circulated heavily in Rajputana trade networks operating semi-independently of Mughal fiscal control.

Muhammad Shah's reign is also notable for being the longest of any late Mughal emperor — nearly three decades of progressive fragmentation.