Very Fine+, Extremely Rare.

This curious coin combines obverses of coins of two different rulers - the short-lived Sultan Muhammad Shah III, a.k.a. Miran Muhammad Shah Faruqi of Khandesh and Mahmud Shah III bin Latif. G&G list these obverses under G405 and G424, respectively. Both are rare issues. It is tempting to address this coin as a 'joint' issue of these two Sultans, however the political history of the period does not allow such an inference. Miran Muhammad Shah died en route to Gujarat and it is possible that the coin was struck in the Eastern part of Gujarat Sultanate bordering on Malwa.