By a treaty, signed in 1768, the nizam acknowledged the validity of Shah Alam's grant and resigned the Circars to the Company, receiving as a mark of friendship an annuity of 50,000.
The Northern Circars were governed as part of Madras Presidency until
Coins for use of Northen Circars division of the Madras Presidency with headquarters at Musalipatnam were:-
SILVER : 4 Annas and 2 Annas
COPPER : 1/48 Rupee and 1/96 Rupee
The last set of coins were a set of 3 copper coins in the denominations of 4 Pai, 2 Pai and 1 Pai issued during the period 1824-1825.
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