The Princely state of Baroda was ruled from 1721 to 1949 by the Gaekwads of Maratha Confederacy. On 28th November 1870, Malhar Rao Gaekwad was installed as Regent at the Durbarkhana, Baroda on the death of his elder half brother Maharaja Khande Rao II.
During the reign he issued silver and copper coins in the denomination of Nazarana Rupee, Rupee, and Paisa. All these coins were struck at Baroda mint.
Depicted above is a silver Nazarana Rupee which belongs to his reign. The obverse of a coin has legend ‘Sikka Mubarak Sena Khas Khel Samsher Bahadur’ visible in parts. The reverse of a coin depicted the Date, mint name, sword symbol and Nagari initials Ma Ga.
The date on this Nazarana Rupee corresponds to 1871-72, it is possible that it must have been struck as special issue for coronation event. Classical Numismatic Gallery listed this coin at INR 4,50,000 to 6,00,000 for an upcoming auction.
Image Source: Classical Numismatic Gallery