2 Annas Crescent opens to right

Pakistan's first coin series, issued in 1948, was struck before the country had established its own mint — production was contracted to the Royal Mint in London and the Bombay Mint, the latter having been the dominant supplier of subcontinental coinage under British India. The crescent orientation variety exists because early die preparation for the new nation's coinage lacked strict standardization, resulting in documented positional differences that now serve as the primary distinguishing factor between KM#4 and its counterpart.

The 1948 date represents the inaugural year of Pakistani coinage, just months after Partition.