11/2 Falus - Ahmad Shah III

Ahmad Shah III ruled Gujarat for less than four years before the Mughal emperor Akbar absorbed the sultanate in 1572 — though Ahmad himself was deposed well before that, removed by his own nobles in 1561. This issue dates to his effective reign, a period of acute internal instability during which the Gujarat sultanate was losing coherence faster than it was losing territory. Coinage continued because commerce demanded it, not because the court had any firm grip on monetary administration.