High relief striking, Extremely fine, Very rare.

Raghogarh was a state founded by Khichi Rajputs in Central India. In the 18th century, Raghogarh opposed the Marathas headed by Mahadaji Sindhia in Malwa 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 AD).