The princely state of Gwalior belongs to the royal line of Sindhia (Shinde) dynasty. Mahadji Sindhia was the first Maharaja of Gwalior. His father 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 Gwalior was completely shifted in the hands of Sindhia.
Daulat Rao was a Maharaja of Gwalior State from 1794 to 1827 AD. He played a significant role in the Second and Third Anglo-Maratha wars. During the reign, he issued gold, silver, and copper coins in the denomination of Rupee and Paisa.
Illustrated here is a copper Paisa issued in the reign of Daulat Rao from Rajod mint. The obverse of a coin depicts the Hanuman facing right with Dronagiri Mountain and Cobra at right. The reverse inscribed with Nagari legend ‘Rajod’ with VS date 1936.
Image Source: Classical Numismatic Gallery