The identification of this vigraha is based on the attributes fruit, mace, chakra and Patra in her hands. Clockwise starting from the lower right hand. This blogsite has another Mahalakshmi.
The Chakra is held horizontally, an unusual position. The book Himachal Pradesh Antiquities by M Postel, A Neven and K Mankodi, has a picture of Vishnu holding Chakra in the horizontal position (Figure 81). That sculpture is dated to the late tenth century.
There are several interesting features flat crown, narrow waist to hip transition, inlaid eyes, two layers of Vanamala, delineation of fingers (note the way mace is held in the upper right hand) and a general sense of lightness despite the strong casting. Needless to say, the casting quality is also superior.
The Vigraha is about 12 cm high and it is most probably from Central or Western India. The idol may be dated to the Prathihara period, about the eleventh century. The degree and the pattern of wear are consistent with expectation. Compare the front and back view of the top part of the crown to get a sense of the wear.
It is possible this Vigraha represents Mahalakshmi from a temple other than Kolhapur. A picture of Kolhapur Moola Vigraha is included for reference. Photo courtesy Internet. The significant differences include the length and position of the mace and the way chakra is held.