Muhammad Shah, Gulshanabad (Nasik) Mint, Silver Rupee, 9 RY, Broad flan, Obv: Persian legend "Sikka Mubarak Badshah Ghazi Muhammad Shah", Rev: Persian legends "sana 9 julus" & "zarb Gulshanabad" almost completely visible at the bottom, 11.37g, 25.62mm, (Unlisted in KM), tiny test mark, original toning, almost uncirculated, Exceedingly Rare.

Note: The holy city of Nasik came under complete Maratha control by 1720. A mint had been operational here during the reign of Farrukhsiyar when a Mughal commander named Yasin Khan controlled most of Western Maharashtra. After the Maratha reconquest, the mint continued to produce coins in the name of Muhammad Shah, with the legend "Ba Lutf Elah Badshah-e-Zaman" on the obverse. These coins are known from regnal years Ahad to 7. This coin, dated RY 9, has an obverse legend containing the title 'Badshah Ghazi'.This is the first coin from the Gulshanabad mint known with this feature and marks the survival of the mint post-1730.

Estimate: INR 275000 - 325000