Watch List notes:

BOMBAY PRESIDENCY: Ahmad Shah, 1748-1754, AR ¼ rupee (2.79g), Mumbai, year off flan, Stv-2.91 (sic), KM--. Prid--, struck from rupee dies, VF, RRR, ex Paul Stevens Collection. Although tentatively assigned to Alamgir II by Stevens, it is almost certainly Ahmad Shah, for whom the quarter rupee is unpublished. The emperor's name is almost completely off flan, but the bottom of the two middle letters is visible. Because the left part is rounded, rather than a sharp vertical line, it cannon be the bottom of the M of 'alam, but can only be the bottom of the H of shah. The right part is also rounded, and can only be the bottom of the 'ayn of 'alam or the bottom of sha or shah. Also, the space between the mint name and the line above it is rather broad, typical of Ahmad Shah, not of Alamgir II.

Estimate: 125-175 USD