Very Fine+, Extremely Rare.

The 'Ganapati-Pantapradhan rupee', as this coin is popularly called, was struck by Gangadhar Rao Patwardhan of Miraj in 1808 after he received a formal sanction from the Peshwa Bajirao II, acknowledging the partition of the Patwardhan Estates into Miraj and Sangli, with Gangadhar Rao as the ruler of Miraj. The explicit mention of the Peshwa was to indicate his loyalty to him which he further bolstered by paying a Nazarana to him. Other examples of this type show RY 27 which is counted from 1782 when Gangadhar Rao was appointed regent for the Patwardhan territories. Fresh light on the circumstances under which this glamorous type was issued was shed by Mohit Kapoor in his article in JONS 224.