Doesn't quite look like the Sha Alam II I've seen. Is it a pendant or button? There are 2 raised areas not part of the coin?
Searching on the internet, I found the inscription to be the same as that minted by the East India Company in the name of Shah Alam II. The second link says was minted at Murshidabad. Hope it helps. Yes, the protruding areas are'nt a part of the coin......not sure if it was done at the same time as it was minted or later. Please dont hold me for terms, I'm relatively new to this hobby. http://acms.sl.nsw.gov.au/item/itemdetailpaged.aspx?itemid=797415 http://www.nupam.com/eastindia1.html