Gwalior was a Princely State during British India. The state took its name from the old town of Gwalior, though it was never its capital, it was an important place because of its strategic location and the strength of its forts.
The ruling family of Gwalior was the Sindhias, who were the descendants of Maratha chief Ranoji Sindhia. Ranoji Sindhia was the Maratha chief of the Peshwas of Poona in 1750. After the defeat of Peshwas in the Battle of Panipat by Ahmad Shah Durrani, the dominion of the State of Gwalior was completely shifted in the hands of Sindhia.
During the reign of Mahadji Sindhia, son of Ranoji Sindhia, the state became a powerful kingdom in North India. The Anglo-Maratha war brought Gwalior State under British rule.
This gold mohur was issued by Jankoji Rao from ‘Lashkar’ mint. He issued this coin in the name of ‘Shah Alam II’. The obverse of this coin is inscribed with the name and title of Shah Alam II; complete name and title of the king Shah Alam II is not clearly visible on the coin. The reverse of the coin depicts mint name with regnal year '2'. The mint-mark is illustrated as an inverted ‘Bow and Arrow’ with Devnagari initial ‘Je’ and at the bottom of the coin Persian letter ‘Wao’ is seen on the julus.