Iain sent us this picture of his coin from India. It looks to be in good shape, the patterns on it are clearly defined, and the surfaces have a nice, even appearance.
Noted Subcontinent numismatist Jan Lingen has helped us in identifying this coin as a Shahjahanabad (Old Delhi) rupee from the Mughal Empire under the name of Muhammad Shah. The coin appears in the Standard Catalog of World Coins as rupee type 437. CoinQuest thanks Mr. Lingen for his help with identification.
A similar pattern appears on a gold Shahjahanabad mohur (type 439).
The catalog values below are probably low. Indian coins are gaining more and more attention on the world stage, and demand for nice examples will likely increase with time. Here is what the catalogs say:
worn: $8 US dollars approximate catalog value
average circulated: $20
well preserved: $45
worn: $500 US dollars approximate catalog value
average circulated: $600
well preserved: $1000
These are catalog values. Use our Important Terminology link to properly understand them.