Watch List notes:

JHANSI: AR ½ rupee (5.65g), Balwantnagar (Jhansi), AH1169 year 3, KM--, in the name of Alamgir II, superb bold strike, EF to About Unc, RRR, ex William F. Spengler Collection. KM lists a half rupee of Balwantnagar year 2 as a Mughal issue (KM-453.4) at a low price, but this piece is of such high-quality strike that it might have been issued as a nazarana issue.

Estimate: 400- 600 USD