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Paisa - Daulat Rao/Muhammad Akbar II Gwalior Fort Mint

Issuer Gwalior, Princely state of
Year 1809-1826
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Value 1 Paisa (1⁄64)
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Obverse lettering محمد اکبر ثانی
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Edge Plain
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Additional information

Gwalior's coinage during this period reflects a fractured political reality: Daulat Rao Sindhia had been forced into a subsidiary alliance with the British East India Company following the Second Anglo-Maratha War in 1803, yet the Fort Mint continued striking coins invoking Mughal imperial authority — specifically that of Muhammad Akbar II in Delhi, whose sovereignty was by then entirely nominal. The dual attribution on this paisa is less a political statement than a survival mechanism, maintaining the fiction of Mughal suzerainty while Sindhia navigated British oversight.

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