Very fine+, Very rare.

Raghogarh was a state founded by Khichi Rajputs in Central India. In 18th century, Raghogarh opposed Maratha hegemony in Malwa headed by Mahadaji Sindhia and this led to a bitter feud between the Khichis and the Sindhias. The latter was able to win Raghogarh after which the Khichi ruler Balwant Singh moved his office to Bajranggarh. Ultimately, Bajranggarh too fell to the Sindhias in 1816. Coins of Raghogarh mint are very rare and the mint appears to have operated sporadically in the reign of Balwant Singh (1770-1797). The RY and AH date on this coin do not match, so it is likely that the RY is reckoned on an independent basis.