1 Rupee - Shah Alam II - Miraj Mint

Shah Alam II's name appeared on Maratha-controlled mint output for decades after the emperor himself had lost any meaningful authority — a deliberate fiction that gave the Confederacy's coinage a veneer of Mughal legitimacy while the Delhi throne was effectively a political prop. Miraj, a small princely state in the Deccan under Maratha suzerainty, operated its mint under this arrangement throughout a period that included the catastrophic Maratha defeat at Panipat in 1761.

The nearly half-century date range of KM#307 reflects continuous restruck or re-dated production long after the nominal imperial authority had collapsed entirely.