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Princely States : Nawanagar

Currency:INR Category:Coins & Paper Money / Indian Coins - Princely States Start Price:100,000.00 INR Estimated At:100,000.00 - 150,000.00 INR
Princely States : Nawanagar
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Jam Shri Vibhaji, Gold 1/2 Kori, 3.19g, in the name of Jam and Muzaffar Shah III (The last sultan of Gujarat), Obv: “Muzaffar Shah” inscribed in stylized Arabic letters, Devanagari legend “Shri Jā(m)” below, enclosed in a rectangular Cartouche, Rev: Stylized rendering of “al-Muwayyad” legend, copied from the coins of Muzaffar Shah III (KM# 12). About uncirculated, very rare.
The ‘Bombay Gazetteer’ mentions that gold koris were issued by Nawanagar state in 1863 with the conversion rate of 1 gold kori = 32 silver koris. However, they were unsuccessful and not issued for circulation again. It was most likely a part of an overhaul of Nawanagar currency which was plagued by debasement and unauthorised copying outside the state’s borders. It is also likely that the gold coinage was launched in tandem with the tenth marriage of Vibhaji, to Kunvar Ba, the daughter of the Thakore of Bhaunagar which also took place in the 1863, so that it can be used for ritual gift exchange.