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Silver coins struck by the EIC in the name of Muhammad Shah with the
mint name Arkat have been the subject of many debates[1],[2],[3],[4] and
identification is not yet certain.
Arkat rupees are the only coins to have the three petal lotus mark on
the reverse together with the dot arrangement under the word julus. This also
appears on the coins of Ahmad Shah Bahadur.
The Pridmore illustration (Pr.134) from the Panish collection shows
neither the Emperor’s name, nor the date, nor the mint name. It is probably a
rupee of Muhammad Shah, based on the lotus mark and the four- dot group below
‘julus’. However, other authors have suggested other possible candidates for
the Arcot rupee of Muhammad Shah (see references).
The coin illustrated below, from the Fitzwilliam museum, while not
containing the full date or the mint name, does contain the Emperor’s name,
Muhammad Shah, thus confirming the issuance of Arcot coins, in the name of this
Emperor, during the 1742-48 period.