Very fine+, Exceedingly rare.

The legends on these extremely rare rupees were tentatively deciphered by John Deyell in an article published in the Journal of Academy of Indian Numismatics & Sigillography, Vol.III 1980, pp.57-60. On 12th April 1686, King James II renewed the East India Company's charter after the establishment at Bombay suffered a rebellion by Capt Richard Keigwin who took over the control from the Company in the name of the King. Along with addressing causes of discontent, and with a view to streamline the trade, the charter permitted the Company with “full power license and authority to coin in their forts, any species of money usually coined by the Princes of these countries”, provided they matched the standards of such coins in terms of weight and fineness. It is probable that coins in Mughal style bearing the name of James II were struck at this time, to alleviate the frustrations caused by English-style 'Pax Deo' rupees, which traders on the Konkan mainland and beyond were very reluctant to accept.