Watch List notes:

India, Mughal Empire. Muhammad Shah AR Nazarana Rupee. Dar al-Khilafa Shahjahanabad mint, dually dated AH 11[49]/RY 18 = AD 1737. Persian couplet; AH date above / Name and title, julus formula with mint epithet and regnal year below. KM 437.4. 11.33g, 22mm, 10h.

Good Very Fine; small scratch to obv.

From the Arethusa collection;
Ex Roma Numismatics Ltd., E-Sale 68, 27 February 2020, lot 1369.