Watch List notes:

SIKH EMPIRE: AR nanakshahi rupee (11.03g), Amritsar, VS1906, KM-22.10, Herrli-01.12.04, Gujral-65.03 (this piece), VS1885 series, 1 small testmark, lovely bold strike, choice VF, RRR. The British annexation of the Sikh Empire concluded on 29 March 1849, but the year VS1906 did not commence until 28 April 1849. It is likely that the 1906 dies were produced in advance, and for whatever reasons, used for the last coinage of the previous year. Rupees of Amritsar dated VS1905 are rare, and 1906 extremely rare. The chattra form on this piece was used only in 1905 & 1906, quite different from the form used in VS1899-1901, and never in 1902, so that it would seem improbable that the "6" of the date was a retrograde "2".

Estimate: 1,000- 1,400 USD