This is an old falus (about 8 grams) from the Mughal Empire (India) from thie time of Muhammad Shah, city of Peshawar. The coin in our picture comes from Stephen Album Rare Coins, specialist in Islamic, Indian and Oriental coins, in Santa Rosa, California, USA. It is a nice specimen with clear inscriptions and devices and in original condition. As such, the coin sold in a recent (2013) auction for $150 US dollars. This gives you and idea of the value of such coins.
Coins like this are difficult to evaluate precisely. Each coin stands on its own merits and you may be able to find bargains if you know what to look for. This is an exciting time for Islamic and Indian coins as the Internet exposes millions of people to these intriguing collectibles. Approximate catalog values are:
worn: $50 US dollars approximate catalog value
average circulated: $175
well preserved: $300
CoinQuest thanks Steve Album for use of his coin photo. It's a nice one!