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1 Rupee - Muhammad Shah Munbai mint

Issuer Mughal Empire
Year 1138
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Reference(s) KM#436.45
Obverse description Hammered silver flan bearing the royal legend in bold Nasta'liq calligraphy arranged in two horizontal registers separated by a ruled line. The central field carries the regal formula acknowledging the emperor as Badshah Ghazi, with the word 'Muhammad Shah' prominently rendered in the lower register. Scattered pellet ornaments appear in the field, and a partial outer border inscription frames the design. The irregular flan edges are characteristic of hand-struck Mughal coinage of this period.
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Edge Plain
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Additional information

Muhammad Shah ruled the Mughal Empire from 1719 to 1748, a reign marked by the catastrophic 1739 invasion of Nadir Shah of Persia, who sacked Delhi and carried off the Peacock Throne along with an estimated 700 million rupees in treasure — a plunder so total it reportedly exempted Delhi's population from taxes for three years. The Munbai mint, operating under shifting local authority as Maratha power encroached on the region, produced issues of increasingly variable silver fineness during this period.

Year 1138 of the Hijri calendar corresponds to 1725–26 CE, well before the Nadir Shah catastrophe but already deep into the factional instability that defined Muhammad Shah's court.