Watch List notes:

MUGHAL: Muhammad Shah, 1719-1748, AR nazarana rupee (11.39g), Peshawar, AH1136 year 6, KM-436.50, 1 small testmark, broad flan, with nearly complete outer border, lovely VF, RRR, ex M.H. Mirza Collection. We have never encountered a rupee of Muhammad Shah, Peshawar mint, that is clearly of nazarana style, though some examples dated AH1136 year 6 are somewhat broader than other years, but with only a tidbit of the outer margin (as lot 1514 in our Auction 29).

Estimate: 150-200 USD