Love those Indian One Rupees! Notice he heraldic Indian flowers at top and bottom and the English rose, Irish shamrock and Scottish thistle on the sides.
They're not rare, despite some
ebay sellers' contentions that they are. If I had a nickle for every coin somebody on that site has called "rare"...well, you get the picture.
Very shiny examples of Indian rupees happen more often than you would think, for some reason unknown to me. I bid on a bunch on an
ebay auction, and when they arrived they turned out to be more shiny than one would think typical for coins that were almost 70 years old. These were pretty much in AU condition.
Your jeweller doesn't have a clue about coins, it seems. I have seen this type of situation before.
Yes, it's overpriced at $40.00, and it's definitely not a "medallion", contrary to what he believes.
Quite truthfully, based on this alone, I wouldn't even bother with the guy.