Silver Square Nazarana Rupee, 11.46g, Katak Mint, in the name of Shah Alam II, RY 5 (Not listed in major Publication). Extremely fine, exceedingly rare.
A highly unusual and rare square coin of Cuttack mint, under the Bhonsla rule. Similar round rupees were listed by P.P. Kulkarni ('Coinage of the Bhonsla Rajas of Nagpur', p. 135, Type 19). The calligraphy of the coins bears a striking similarity to the East India Company's coins of Murshidabad / Calcutta mints. It is not certain who was behind their issue; if the mint-name is 'real', the Bhonslas remain the best contenders but if it is a pseudo-mint name, i.e. the coins are struck at a place further North into the British realms they could well be East India Company issues. However, more proof is needed to substantiate this position. It is possible that this coin is a specially struck (“Nazarana”) issue. One more coin, with RY 22, of this shape exists in the American Numismatic Society’s collection.
Ex Oswal Auction No. 97 Lot# 172.