Watch List notes:

JHALAWAR: temp. Madan Singh, 1837-1845, AR nazarana rupee (11.06g), Jhalawar, AH1259 year 6, Cr-29, in the name of Muhammad Shah Bahadur (Mughal, Bahadur II, 1837-1857), clear Hijri date with the "9" above "125", presumably because the engraver neglected to leave room for the "9" in its normal location, extemely rare type not included in any of the standard publications, VF, RR. The Mughal nazaranas of Jhalawar are much rarer than the Victoria types. Only one has appeared on CoinArchives (year 20, mistakingly described as in the name of Queen Victoria).

Estimate: 500-600 USD