Madhav Rao Sindhia, Milled Coinage, Silver Rupee, 12.25g, Specially struck, Bombay Mint, VS 1954 (AD1897), Obv: Coat-of-arms of Gwalior state in centre: Tenné, a cobra passant or; on a chief Azure, a civic crown between two towers of the second; Crest: on a helmet affrontée, lambrequined Tenné and or, two globes Murray each charged with a cobra passant or; Supporters: Two wolves; Motto: ALI JAH (Of Exalted Rank). Devanagari legend “Shri Madhavrao Maharaj Sinde; Gwaliyar” around, Rev: Denomination and VS date in floral wreath, raised letter 'B' mintmark in the knot. About uncirculated, exceedingly rare. The mechanisation of Gwalior mint began in about 1888 with the introduction of machine-struck ‘Sun’-faced coinage in the name of Madhavrao Sindhia. However, this was not successful for a variety of reasons, including poor operation of the machinery. In 1896, the problems were resolved and a regular machine-struck copper coinage of paisa and ½ paisa, was introduced across the state. However, judging by the mark of letter 'B', this extremely rare rupee, appears to have been struck at the Bombay mint. It is plausible that it was struck to pay a special tribute to Queen Victoria for her Diamond Jubilee in 1897 because it is struck to a higher weight standard. It was listed by Lingen and Wiggins but only as a drawing and one specimen was offered in 2006 at a Baldwin’s Auction from the Michael Sarnfors collection.