Watch List notes:

MUGHAL: Alamgir II, 1754-1759, AR rupee (11.15g), Merta, AH1166 year 3, KM--, Lingen-M.02.01, the mint name appears in the lower right of the reverse, immediately below the word ma'nus and fully clear, as are also the date and regnal year, About VF, RRR, ex Stephen Album Auction 15, Lot 1020. Merta is an extremely rare mint in the name of Alamgir II, and this appears to be the third known specimen, as Lingen cited the specimen on Zeno (#86098, to which this piece is die-identical) as the second known example. Technically, this is a local issue of the state of Jodhpur (Marwar), during the reign of Bijay Singh (1752-1793), as the mints under Marwar (Jodhpur, Pali, etc.) were not officially authorized by the Mughal administration until 1780 or thereabouts. The date is said to be in the fasli era or solar years introduced by the Mughal emperor Akbar, but it might also be a typo for 1169, which would correctly agree with regnal year three of either Alamgir or Bijay Singh.

Estimate: 700-800 USD