Coin India Indore, Shivaji Rao - 1/2 Silver Rupee, in the name of Shah Alam II - 1948 VS (1891)

This silver half rupee was issued in the princely state of Indore in 1897, under the reign of Shivajirao Holkar. In keeping with a common practice in many princely states of Mughal and post-Mughal India, the coin was struck in the name of Shah Alam II. However, this reference no longer corresponded to any real political authority: Shah Alam II had died in 1806, but his name continued to be used on certain coin issues by tradition and in the interest of dynastic legitimacy. This practice illustrates the persistence of monetary customs inherited from the Mughal Empire within several Indian principalities.

Shivajirao Holkar ruled over Indore from 1886 to 1903. His reign took place in the context of the British Raj, characterised by the growing influence of colonial authorities over the princely states. Founded by the Maratha Holkar dynasty, the state of Indore retained internal autonomy while remaining under the suzerainty of the British Crown. During this period, several administrative and financial reforms were implemented under the influence of British representatives. Local coin minting still coexisted with the currencies of British India, reflecting the retention of certain sovereign prerogatives ? particularly in the area of monetary issuance ? before the gradual standardisation of the monetary system across the subcontinent.