Very Fine, Extremely Rare.

One of the rarest varieties of Maratha coins, the 'Shri' rupee of Alibag circulated in the territory of the Angrey family, on the Konkan coast south of Mumbai. The Angreys were the hereditary admirals of the Maratha navy, until it was scuttled owing to a feud with the Peshwas. The coin is referred to in the Bombay Gazette as the 'Janjira-Colaba' or 'New Alibag' rupee. The person responsible for its issue was Vinayak Parshuram Biwalkar, the Chief Officer (Diwan or Karbhari) of the Angreys, who introduced it in around 1829. It was not at all popular, because of its lower silver contents and ceased to be circulated within a decade. In 1844, the Angrey Estates lapsed to the British when permission to succession by adoption was denied.