Five various punchmarks / Bankers' marks. 25mmx17mm, 2.71 grams. Gupta and Hadraker series III, III II A 2 (#296).
Probably overstruck on a type II issue - the reverse shows signs of the undertype (the 6-armed symbol is visible at 11 o'clock), but not enough to identift it.
Extremely rare type. Magadha was an ancient kingdom in India, mentioned in both the Ramayana and the Mahabharata. It was also one of the four main kingdoms of India at the time of Buddha, having risen to power during the reigns of Bimbisara (c. 544-491 BCE)and his son Ajatashatru (c. 491-460 BCE). The core of the kingdom was that portion of Bihar lying south of the Ganges, with its capital atRajagriha (modern Rajgir). Magadha expanded to include most of Biharand parts of Bengal with the conquest of Anga, and then expanded up theGanges valley annexing Kosala and Kashi.