Watch List notes:

HYDERABAD: Mir Mahbub Ali Khan, 1869-1911, AE rupee, Farkhanda Bunyad Hyderabad, AH1312 year 28, KM--, Lingen-, copper strike for proposed coinage which was never issued, likely unique, NGC graded MS62 BR, RRRR. Patterns for the silver denominations are confirmed for 2 annas (silver, dated 1318 and regnal year 34), 4 annas (silver, 1312/29), 8 annas (copper, 1312/28), ½ rupee (copper, 1312/28), and rupee (copper, 1312/27, 1312/28, 1312/29). Other dates probably exist for some of these denominations, published outside the few references we examined. Among 1312 rupees struck in copper, a regnal year 27 is known with reeded edge, a regnal year 29 with plain edge and regnal year 28 with reeded edge and two different varieties of border. A trial strike in lead of the regnal year 28 rupee is known, as well as a currency strike in silver and a piece in silver with broad, flat rims. Except for the currency strike, all of these pieces are extremely rare. This copper rupee, with the regnal year 28, appears to be unique.

Estimate: 4,000-5,000 USD