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That would be correct. the date used on the coin is according to an esoteric Indian calendar, the "Vikram Samvat" which is about 57 years in front of the Western A.D. calendar.
Not for this coin; the date really is AD 1939. While the Vikramasamvat calendar is used on many Indian States coins, the nazarana rupees of Jaipur are quite unusual in bearing an AD date written in Persian/Arabic numerals. The name of the British monarch at the top of the obverse is "George" (spelled "jarj" in Arabic/Persian lettering), not "Victoria" as appears on coins of AD 1882.
Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis