Note: In the late twelfth century, Qutb ud-Din Aibak, appointed governor of India by the Ghurid ruler Muhammad bin Sam, led campaigns across northern India, conquering many kingdoms. Many of these early conquests were temporary, and regions had to be reconquered several times during the thirteenth century by the Delhi Sultanate.

This coin is remarkable in Indian numismatic history. The obverse shows the goddess Lakshmi, while the reverse bears Nagari legends naming Muhammad bin Sam. Striking a coin featuring a Hindu deity was a practical move to ensure acceptance in trade, using familiar iconography to gain the confidence of the local population. It is a rare example of the fusion of cultures in early medieval India.

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