2016-10-19 Wed

This silver Nazarana coin belongs to Indore princely state which was minted in Indore on AD/VS 1900/1956.

Indore was under the dominance of the Holkar Dynasty – one among the dominant Maratha powers which had its stronghold in Central India along with Peshwas, shindhias and Gaikwad. Indore state originated in 1728, it was a grant of land to Malharrao Holkar from Maratha Peshwa of Poona in the north of Narmada River.

This silver rupee of Maharaja Shivajirao Holkar belongs to milled coinage with its obverse depicting a portrait of Shivaji Rao Holkar with a continuous Devanagari legend which reads “Srimant Shivaji Rao Maharaj Holkar, Indore VS (Vikram Samvat) 1956” within toothed rim. And the reverse features Indore State’s Royal coat of arms with Devanagari legend 'Ek Rupaya' and INDORE inscribed in exergue in Roman within the toothed rim.

This series of coins were introduced in 1898 to counteract counterfeiting (forgery) of the second series which began to proliferate as a result of decline in price of silver and so the machine mints were reintroduced for circulation. However, this series was not in circulation for very long period of time.

Holkar ruled Indore as an independent member of Maratha Empire till 1818 AD, but they later became a Protectorate of British India.

Yashwantrao Holkar II was the last ruling maharaja of Holkars and on 28 April 1948 the Maharaja of indore signed the covenant with other rulers of neighbouring princely state to form a new state in Madhya Bharat. On 16 June 1948 it merged itself in the newly form Independent Indian Union.