Watch List notes:

GWALIOR: MANDASOR: Mahadji Rao, 1761-1794, AR rupee (11.05g), Dar al-Salam Mandasor, DM, KM--, clear mint name, obverse bears a flower emerging from the final letter of padshah, without any testmark, EF, RRR, ex Paul Stevens Collection. Unpublished in all the usual catalogs, but discussed in depth on www.worldofcoins.eu. The epithet is "dar al-salam", not "dar al-islam" as at Worldofcoins.

Estimate: 100-125 USD