The disintegration of the mighty Mughal empire which Aurangzeb had well established, began upon Aurangzeb's death in 1707.  Three surviving sons, Muazzam, Muhammad Azam and Muhammad Kam Bhaksh entered into bitter quarrels for the possession of the throne of Delhi.  The elder two marched towards Agra and proposal to divide the empire according to father's will was turned down by them.  Nothing but sword could decide the issue and soon they restored to it.

Bahadur Shah (1707-1712)

Mu'azzam ascended throne in 1707 after having killed his brothers in the battle field, under the title of Bahadur Shah ( also known as Shah Alam-I).  A person of mild temper, learned and dignified, was too old.  He could not prevent the decline of the empire due to his sudden death in 1712.

Jahandar Shah (1712 - 1713)

Bahadur Shah's death followed a fresh war of succession among his four sons, Jahandar Shah, Azim-us-Shah, Jahan Shah and Rafi-is-Shah.  The last three were killed in the course of war and Jahandar Shah managed to ascend the throne.  The fate did not allow him to rule, and Azim-us-Shah's son Farrukhsiyar took his toll and ascended the throne.

FARRUKHSIYAR (1713 - 1719)

Farrukhsiyar was feeble, cowardly and contemptible.  He owed his elevation to the throne to two Sayyid brothers, who were the real power in the state.  His attempt to assert his own power made his reign agitated and perplexing one, ending in another imperial tragedy.  He was deposed, blinded and executed by his own Sayyid ministers.

Rafi-ud-Darajat, Rafi-ud-Dallah (1719)

The King-makers (the Sayyid Ministers), 'Abdullah and Hussain Ali, raised to the throne two phantom kings, Rafi-Ud-Darajat & Rafi-ud-Dallah, sons of Rafi-us-Shan.  But within few months the Sayyids who determined to rule through the Imperial puppets thought that a youth of eighteen named Roshan Akhtar, son of Jahan Shah could be a better docile agent of them.

MUHAMMAD SHAH (1719 - 1748)

Roshan Akhtar ascended the throne as Muhammad Shah in 1719.  The new emperor did not prove to be a docile agent of Sayyid brothers, Sayyid brothers were soon killed by Muhammad Shah.  Young and handsome Muhammad Shah, with all the pleasures, addicted to inactive life.  Though destiny granted him a long reign, he let affairs drift in their own way, and soon province after province slipped out of imperial control.   The Marathas established their power again, Jats became independent near Agra, the Ruhelas founded Ruhelkand, Sikhs became active in Panjab.  The invasion of Nadir Shah of Persia hit the empire with a greater blow.  The mighty Mughal empire ceased to exist within three decades of Aurangzeb's death, and the result was a budding of numerous independent states.
 

AHMAD SHAH BAHADUR (1748 - 1754)

The next emperor, Ahmad Shah, son of Muhammad Shah, was unable to hold the forces together that had grown so alarming.  The empire abruptly reduced to a small district round Delhi.  The emperor was deposed and blinded in 1754 by the wazir Ghazi-ud-din Imad-ul-mulk, a grandson of the deceased Nizam-ul-mulk of the Deccan who now played a role of King maker.
 

ALAMGIR-II (1754 - 1759)

'Aziz-ud-din', the son of Jahandar Shah was placed on the throne by the new king maker. He adopted the same title as the great Aurangzeb, and called himself 'Alamgir-II'.  The new ruler was a kind of 'prisoner on the throne' in the hand of king maker.  His attempt to free himself resulted in his ruin, the emperor was put to death by Ghazi-ud-din Imad-ul-mulk's orders.
 

SHAH ALAM-II (1759 - 1806)

The son and the successor of Alamgir-II, Shah Alam-II had to move as a wanderer from place to place because of the hostility of the ambitious and unscrupulous wazir.  Having been blinded by the Afghan chief Gulam Qadir, he was saved by the Maratha Sindhia.  After 1803, the year in which the Britishtook control of Delhi and this unlucky sovereign had to throw himself ultimately on the protection of the English and live as their pensioner till his death in AD 1806.
 

AKBAR II (1806 - 1837) & BAHADUR SHAH-II (1837 - 1858)

With the British control, all that remained by way of an empire for the emperors Akbar-II and Bahadur Shah-II was their shabby residence in Delhi's Red Fort, where they allotted a home. A symbol of the durability of a once glorious empire, the Great Mughal was still officially recognized as the potentate.  British maintained the authority of the puppet dynast to legitimize their presence. But in 1857, it backfired them, during the Sepoy rebellion.  In order to counter the British power, the sepoys proclaimed Bahadur Shah-II emperor of Hindustan.  But after the mutiny at Meerut, the British emerged victorious, and Bahadur Shah-II was accused of disruption, treason and rebellion. He was condemned to exile in Burma.  The descendants were executed, and the glorious Mughal empire was swept away once and for all.
 

THE COINAGE

The artistic nature of the Mughal coinage were restricted to the calligraphic excellence of important mints of these later Mughal emperors.  Among the coins struck were Nazaranas and Nisars.  Nisars were largesse coins used for scattering over crowds and nazaranas were commemorative coins struck on much wider flans but with much more impressive calligraphy.  The last of the mughal emperors, Bahadur Shah Zafar, though poet himself,  never had any time to write couplets for his coins. He was under constant harassment by the British.  But it is true that with the Dutch competition, the annual production of these Mughal rupees were atleast thirty million pieces a year, which alone describes the wealth of the Mughal empire !!!