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Malwa Sultanate, Ghiyath Shah as Heir Apparent (AH 860-873 /1456-1469AD), Hadrat Shadiabad Mint, Gold Nazarana Tanka, Victory Issue?, AH 866, Obv: Arabic legend “al-sultan bin al-sultan wali al-ahd fi al-zaman al hami al ahad al-iman (the Sultan, Son of the Sultan, the heir apparent, in the time of age, the defender of the period of the faith)”, Rev:&nbsp;Arabic legend “abu'l fath Ghiyath Shah al-khilji al-sultani ba hadrat Shahdiabad (the father of victory, Ghiyath Shah, the khilji sultan, struck at Hadrat Shadiabad)” with 866 Hijri year, a star symbol at the bottom, 10.94g, 26.15mm, (Unpublished), test marks, nice luster, centrally struck, almost uncirculated, Exceptionally Rare. &nbsp;

Note: This&nbsp;unique and previously unpublished gold Nazarana or ceremonial tanka&nbsp;was struck in&nbsp;AH 866 (1461 CE)&nbsp;by&nbsp;Ghiyath Shah of Malwa, issued in the name of his father,&nbsp;Ala ud-Din Mahmud Shah Khalji, when Ghiyath was serving as&nbsp;Heir Apparent. The coin’s exceptional rarity and early date suggest that it was possibly struck as a&nbsp;victory or presentation issue&nbsp;marking his emergence as co-ruler and military commander. No other gold coins of this type are known for Ghiyath Shah, making this a&nbsp;new discovery of the highest numismatic importance, being offered publicly for the first time. The year&nbsp;AH 866&nbsp;was one of the most eventful in Deccan and Central Indian history. Following the assassination of&nbsp;Humayun Shah Bahmani&nbsp;in 865 AH (1461 CE), the Bahmani throne passed to his minor son&nbsp;Nizam-ud-Din Ahmad III, under the regency of&nbsp;Mahmud Gawan,&nbsp;Khwaja-i-Jahan Turk, and&nbsp;Queen Nargis Begum. Exploiting this instability,&nbsp;Gajapati Kapileshwar of Orissa&nbsp;invaded Telangana, but was defeated and forced to pay heavy indemnity. Sensing further opportunity,&nbsp;Mahmud Shah Khalji of Malwa, while outwardly maintaining diplomatic courtesies, advanced militarily into Bahmani territory.<o:p></o:p>On&nbsp;20 Muharram 866 (25 October 1461 CE), Mahmud Khalji’s army crossed the&nbsp;Narmada, subdued&nbsp;Asir, and advanced deep into the Deccan. The decisive&nbsp;Battle of Maheskar, fought on the&nbsp;River Manjar&nbsp;near&nbsp;Balapur&nbsp;on&nbsp;12 Jumada I 866 (12 February 1462 CE), became one of the most dramatic confrontations of the era. Initially suffering losses — including Mahabat Khan and Zahur-ul-Mulk — and with&nbsp;Prince Ghiyath Shah wounded, the Malwa forces appeared on the brink of defeat. However, the&nbsp;personal valor of Sultan Mahmud&nbsp;reversed the outcome, transforming an impending loss into a resounding victory.<o:p></o:p>The Bahmani regent&nbsp;Sikandar Khan, fearing for the young king’s life, fled to&nbsp;Bidar, which soon fell under Mahmud Khalji’s control. By the campaign’s end,&nbsp;Malwa had annexed Berar, Bir, and Daulatabad, consolidating its dominance in the Deccan. <o:p></o:p>This&nbsp;unique gold issue of AH 866&nbsp;likely commemorates that victory and Ghiyath’s prominent role in the campaign.<o:p></o:p>A newly discovered and historically momentous coin — the first of its kind ever offered at public auction.<o:p></o:p>

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