The Holkars were one of the most popular royalties in the history of India. They belong to the Dangar clan of Maharashtra. The Holkar dynasty was established by Malhar Rao who worked under the Peshwa of Maratha in 1721 AD. Later on, he was promoted to the post of Subedar.
Shivaji Rao Holkar ruled the Indore princely State from 1886 to 1903 AD. During the reign, he introduced remarkable verity of copper and silver coins from Indore mint. These coins were found in the denomination of Rupee, Paisa, and Anna.
The above shown silver machine struck circulated pattern Rupee of Shivaji Rao Holkar was issued in 1943 VS. The obverse of a coin depicts the bust of Sun in the center with Devanagari legend ‘Shrimant Maharaja Shivaji Rao Holkar Sarkar Indore’ around. The reverse showed the Denomination and date in Devanagari within a floral border.
Like some other states, Indore experimented extensively with mechanized coin production in 1887. Many designs were patterned and a few were put through the production line. However, unlike most patterns which were used only for experimentation, there is room to believe that some patterns struck during these trial runs ended up in circulation. This was perhaps because the state couldn't afford to waste metal it had imported only in trials. This rupee is such an example - even though the fact that very few such rupees exist suggests this was a trial strike, it shows tell-tale signs of having been circulated.
Image Source: Classical Numismatic Gallery