INDIA'S FIRST 'KNOWN' COINAGE

[Guest guest]

BELOW IS AN ARTICLE ABOUT ANCIENT INDIAN COINAGE. I THINK IT WOULD BE

MORE ACCURATE TO CALL THE ARTICLE "INDIA'S FIRST KNOWN COINAGE." PERHAPS THAT IS

ALOT TO ASK FOR FROM THE ACADEMIC COMMUNITY

THAT IS CONSTANTLY CHANGING THEIR THEORIES BUT WILL ALWAYS PRESENT

THEM AS IF EVERYTHING IS PROVEN BEYOND A SHADOW OF A DOUBT.

FOR A DIRECT LINK TO THE SITE CLICK....

 

http://www.med.unc.edu/~nupam/ancient1.html

 

 

INDIA'S FIRST COINAGE

 

It is almost certain that the concept of coins as a convenient medium

of exchange was conceived by three different civilizations

independently and almost simultaneously. Coins were introduced as a

means to trade things of daily usage in Asia minor, India and China

in 6th century BC. Most historians agree that the first coins of

world were issued by Greeks living in Lydia and Ionia (located on the

western coast of modern Turkey). These first coins were globules of

Electrum, a naturally occurring alloy of gold and silver. These were

crude coins of definite weight stamped with incuse punches issued by

the local authorities in ~650 BC.

 

 

It is beyond doubt that the first coins of India were minted just

before 5th century BC in Madhyadesha i.e. central India. Although,

few historian have suggested (based on vedic records) that India

minted perhaps the first coins of the world which were introduced

even earlier than Lydian/Ionian coins, in 8th century BC; most

scholars do not agree with this theory. Both, literary and

archaeological evidence confirm that the Indians invented coinage

somewhere between 5th to 6th century BC. A hoard of coins discovered

at Chaman Huzuri in 1933 contained 43 silver punch-marked coins (the

earliest coins of India) with Athenian (coins minted by Athens city

of Greece) and Achaemenian (Persian) coins. Bhir (Taxila) hoard

discovered in 1924 contained 1055 punch-marked coins in very worn out

condition and two coins of Alexander in mint condition. These

archaelogical evidences clearly indicate that the coins were minted

in India long before 4th century BC i.e. before Greeks advanced

towards India (Alexander's invasion of Persia and India). Panini

wrote Ashtadhyayi in 4h-5th century BC in which he has mentioned

Satamana, Nishkas, Sana, Vimastika, Karshapana and it's various sub-

divisions as coins. Thus coins are known in ancient literature from

500 BC. There is also a strong belief that silver as a metal which

was not available in Vedic India, became abundantly available by 500-

600 BC. Most of the silver came from Afganistan and Persia as a

result of international trade.

 

The earliest coins of India are commonly known as punch-marked coins.

As the name suggests, these coins bear the symbols of various types,

punched on pieces of silver of specific weight. Interestingly

earliest Indian coins have no defined shapes and they were mostly

uniface. Secondly, these coins lack any inscriptions written in

contemporary languages and almost always struck in silver. These

unique characters makes early Indian coins very different than their

contemporaries in Greece. Many early historians believed that concept

of coinage was introduced in India by Greeks. But unlike Indian punch-

marked coins, Greek coins had inscriptions, they were round in shape,

were stamped on both the sides and minted using silver, electrum and

gold too. Today we are certain that the concept of coinage was

invented in India independent of foreign influence which imparted the

unique characteristics to these punch-marked coins, not seen in any

other coins of the ancient world.

 

Punch-marked coins are marked with 1-5 (and sometimes more) marks

representing various symbols. Two well known numismatists, D. B.

Spooner and D.R. Bhandarkar after careful study independently

concluded that the punching of various symbols representing animals,

hills, tree and human figures followed a definite pattern and these

coins were issued by royal authority.

 

 

 

 

First coin of India (?)

Before 5th Century BC

Minted in Madhyadesha?, found near Mathura

Silver unit Seven punch marks

Weight: 7.14 gm

Numismatic Digest # 22

Rare

 

 

In Rig-Vedic period (Rig Veda is the first out of the four Vedas

which contains scriptures and hymns in Sanskrit, probably composed in

10th-13th century BC), the Aryan tribes had spread over the whole

country from Kabul (Kubha in Sanskrit) to upper Ganga (Ganges) and

had built up small states mostly under hereditary monarchs and few

republics. By 11th century BC, India was divided into many small and

large states called Janapadas and Mahajanpadas. About 6th century BC,

sixteen Mahajanapadas or kingdoms rose to pre-imminence in India.

According to ancient text Anguttara Nikayas they were as follows:

Anga, Magadha, Kashi, Koshala, Vajji, Malla, Vatsa, Chedi, Kuru,

Panchala, Matsya, Surasena, Ashvaka, Avanti, Gandhar and Kamboja. One

of the earliest coins of india were minted by following

Mahajanapadas.

 

Ganga River valley:

Kashi

Koshala

Brij (?)

 

Upper Ganga river valley:

Kuru-Panchala

 

Indus river valley:

Takshashila (Taxila) & Gandhara (Pushkalavati)

 

Southern India (Godavari and Narmada river vally):

Ashmaka or Ashvaka and Avanti

 

Each of the kingdom have issued distinct type of silver coins to

facilitate the trade. Shown above is possibly the earliest coin of

Indian subcontinent which was found near Mathura. This rectagular

coin, made of almost pure silver, was issued in central India or

Madhyadesha. It has seven distinct punch marks including central

`pentagon enclosing a sphere' punch mark. None of those marks show

much resemblance to punch marks routinely seen on coins of other

Janapadas. Three other punch-marked coins of India minted by Taxila,

Koshala and Ashmaka Janapadas are shown below. These are one of the

earliest coins of the India.

 

 

 

Taxila Janapada

600-303 BC

Silver, Satamana Bent bar

Two septa-radiate marks at ends, Uniface

Weight: 11.3 gm (100 ratti)

MAC#4071

 

About 600 BC, in north western part of India, Takshashila or Taxila

and Pushkalavati, became an important commercial centers for the

trade with Mesopotamia. These wealthy satrapies (provinces)

introduced a unique coinage to facilitate the trade. These were

silver concave bars of 11 gms which are popularly called as `Taxila

bent bars' or `Satamana bent bars'. Satmana or Shatamana represented

100 rattis of silver in weight (Shata means 100 while mana means

unit). These silver bars were punched with two septa-radiate (seven

arms) symbols, one at each end. These bent bars represents one of the

earliest coins of India. Shown above is a fine example of Shatamana

bent bar.

 

 

 

Koshala Janapada

600-470 BC

Silver, One and Half Karshapana ?

Weight: 4.68 gm ( 48 ratti)

Reference:Series III, Group A of Hardaker

Rare

 

 

Ancient Indian coinage was based on `Karshapana' unit that consists

of 32 rattis (3.3 grams of silver). A `Ratti' is equivalent to 0.11

gms which is the average weight of a Gunja seed (a bright scarlet

colored seed). Subsidiary denominations of Karshapana like half

Karshapana (16 ratti), quarter Karshapana (8 ratti) and 1/8 of

Karshapana (4 ratti) were also minted. Shown below is a fine example

of 1/8th of Karshapana which is as usual uniface. On obverse is septa-

radiate single punch (identical to what is seen on two ends of

Satamana bar).

 

 

 

 

Taxila Janapada

5th Century BC

silver, 1/8th Karshapana

Septa-radiate single punch Mark, Uniface

Weight: 1.4 gm (4 ratti)

MAC#4079

 

The Pradyota kings of Avanti had a large kingdom covering central and

western India. It was prosperous nation due to the commerce with

Mesopotamia through a sea port at Bharoch (modern Gujrath). Shown

below is a beautiful example of one of the earliest coins of India

minted by Ashmaka kingdom in southern India or Deccan. This coin

which is considered as double Karshapana, is from a hoard that

surfaced in village of Ashmaka in Maharashtra in 90s. Although this

type was first published by Elliot in the 1870s, very few specimens

have been around until the recent hoard.

 

 

 

Ashmaka Janapada

600-350 BC

Silver, Double Karshapana

Pulley Type, Uniface

Weight: 6.7 gm

MAC#4081

 

Most of these Janapadas were subsequently absorbed into Magadha

empire (ruled by Saisunaga dynasty) between 600-321 BC. Pradyotas of

Avanti were defeated by Saisunaga in 400 BC. The most remarkable king

of Magadha was Bimbisara (also called Shrenika) who ascended on

throne in 545 BC. He annexed kingdom of Anga (east Bihar) and married

princesses of Koshala and Vaishali thereby expanding his kingdom to

the borders of Nepal. He was a very efficient administrator and built

the city of RajGriha (Rajgir in Bihar). Both, Goutam Buddha and

Mahavir Jain preached their doctrines during his reign. His son

Ajatshatru (494-462 BC) defeated many of his adversaries including

humbling his uncle Presanjit of Koshala. He founded the city

Pataliputra (modern Patna) which was metropolis of ancient India for

next four centuries.

 

In ancient India during 600-321 BC, many Janapadas issued coins with

only one symbol like Lion (Shursena of Braj), humped bull

(Saurashtra) or Swastika (Dakshin Panchala). Four symbol coins were

issued by Kashi, Chedi (Bundelkhand), Vanga (Bengal) and Prachya

(Tripura) Janapadas. Five symbol punch marked coins were first issued

by Magadha which were continued during Mauryan expansion. Shown below

is a very rare coin of Kalinga Janapada which is in mint condition.

This is from a recent hoard which supposedly surfaced from river

delta; about half square and rest circular in shape.

 

 

 

Kalinga Janapada

500-350 BC

Silver, half Karshapana

Uniface

Weight: 1.6 gm

Very Rare

 

Ajatshatru was followed by many kings who eventually lost this

kingdom to the family of Nandas who began line of Shudra or semi-

Shudra kings. To maintain the huge army of 200,000 infantry and 3000

elephants (supported by Greek evidence), Nandas had to resort to

heavy taxation which was detested by people. They found a new leader

in Chandragupta Maurya (321-297 BC) who eventually with the help of

Taxilian bramhin Kautilya or Chankya overthrew the Nanda and laid the

foundation of illustrious dynasty of Maurya.

 

 

MAURYAS, THE FIRST EMPERORS

 

 

 

Mauryan Empire (Ashoka the great?)

310-181 BC

Silver Karshapana

Obverse: 3 deities and peacock

Reverse: Peacock on hill

Weight: 3.35 gm (32 rattis)

Reference: GH, Series VII

Scarce

 

Most likely, emperors of Maurya dynasty ruled the largest empire that

ever existed in the Indian subcontinent. Soon after the death of

Alexander, his empire was divided among his generals. One of his

general Seleucus assumed the title of King in 312 BC. He invaded

India but was repelled by Chandragupta Maurya. Seleucus surrendered a

large part of Gandhara (modern Afganistan and Pakistan). Chandragupta

later married to beautiful daughter of Seleucus. Seleucus sent an

ambassador named Magasthenes to Chandragupta's court, who has written

detail accounts of might and pomp of Mauryan empire. Chandragupta

(according to Jain scripture converted to Jainism and spent his last

days at Shravan Belgola in southern India) was followed by his son

Bindusara who increased his empire by annexing Deccan. His son Ashoka

seized Pataliputra after his father's death and enthroned himself as

emperor. Ashoka is the greatest emperor of Muaryan dynasty and most

certainly the greatest figure in the Indian history. He was an

ambitious ruler who annexed a large part of southern and eastern

India, including the kingdom of Kalinga (modern Orissa).

 

 

Shown above is a an interesting silver Karshapana (mentioned in Manu

smruti being 32 rattis in weight) minted by Mauryan authorities. The

most striking feature of this punch-marked coins is presence of 3

deities, struck from single punch. It is very rare to see any human

figure or deities on punch-marked coins. Shown below is another coin

minted by Mauryan emperor which shows sun, the symbol of Mauryan.

 

 

Mauryan Empire

310-181 BC

SIlver, Punch-marked coin

Weight: 2.3 gm

 

 

During Ashoka's reign, the Mauryan empire reached zenith covering an

area from modern Afganistan in west to Assam in east and in north

from Himalayas to modern Andhra Pradesh in southern India. These

imperial punch marked coins have been discovered in all the regions

which cover modern India, Pakistan and Afganistan, truly representing

the glory of the mighty Mauryan empire. Although, Kalinga war proved

to be turning point and produced far reaching consequence in the

history of India and whole eastern world. Ashoka came under influence

of Buddhist philosophy and later sent his son (or brother?) Mahendra

to Sri Lanka who converted king Devanampiya Tissa and eventually the

entire island country to Buddhism.

 

Emperor Ashoka drew up a code of laws noted for their humanity and

erected hundreds of stone pillars and magnificent Buddhist Stupas

(dome shaped monuments). It is believed that Ashoka erected almost

85,000 stupas and pillars all carved in stone with teachings of

Buddhism engraved on them. After two thousand years, we can still see

ruins of them in most states of india including Gujrat, Bihar, Madhya

Pradesh and Tamilnadu. Some of Asoka's edicts , carved on pillars and

rocks, form the earliest known epigraphs in the subcontinent. These

pillars are made out of shafts of sandstone and display Buddhist

symbols such as the wheel and the lion. These pillars are some of

India's earliest major stone sculptures.

 

The great Stupa at Sanchi is perhaps the finest surviving relic of

the Mauryan empire. This great stupa is 54 feet in height and

surrounded by exquisitely carved stone railings and four gateways.

These elaboratley carved gateways depicts events in life of Buddha

and also lifestyle of people of that era. A famous Lion-Capital (four-

lion pillar which is shown above) gleams in polished white sandstone

realistically represents the artistic achievements of Indian artists

and patronage of their masters. This Lion-Capital that Ashoka erected

at Sarnath (in modern madhya Pradesh) has become the national emblem

of modern republic of India. All the coins and currency notes of

modern India have this four-lion symbol on it. The Mauryan Empire is

famous for its great achievements in art, culture architecture and

literature. The classics of Indian literature, such as the

Arthashastra of Kautilya (a treatise for kings about ruling a state)

and the famous Kama Sutra by Vatsayan (unfortunately, today it is

considered as just the book for art of Love-Making) were written

during Mauryan reign.

 

 

POST-MAURYAN PERIOD

 

 

Ashoka was the last emperor of Mauryan empire which started it's

decline soon after his death. Many kingdom arose out of ruins of this

great empire. Northern India was divided into many republics (?)

which were controlled by various ganas (tribes) like Achuyta,

Ahicchatra, Arjunayana, Ayodhya, Eran, Kaushambi, Kuninda etc.. The

coins issued by these republics/Kingdoms are very interesting both

historically and numismatically.

 

Kuninda

 

 

 

Amoghbhuti

Late 2nd Century BC

Silver Drachm, Bilingual

Obverse: Deer and Deity, Brahmi Legends

Reverse: 6 symbols, Kharoshti legends

Weight: 2.4 gm

MAC#4443

Rare

 

Kuninda, which referred as Kulinda in ancient literature, issued very

attractive silver coinage in late 2nd century BC. These coins were

issued by king Amoghbhuti who ruled in the fertile valley of Jamuna,

Beas and Sutlaj rivers (modern Punjab in northern India). The obverse

of the coins shows a deer and Laxmi (goddess of wealth) is holding

lotus in her uplifted hand. Between horns of deer, a cobra symbol is

depicted. The reverse shows 6 symbols. Hill and river below,

Nandipada (hoof of bull), tree in railing, Swastik and Y shaped

symbol. Interestingly, the coins were bilingual. On obverse, legends

were in Prakrit (closely related to Sanskrit), written in Brahmi

script while on reverse were in Kharoshti. The legends on obverse

reads Rajnah Kunindasya Amoghabhutisya maharajasya. The reverse bears

Maharajasa in Kharoshti script at the same place where Indo-Greek and

Saka coins depicted their ruler's names.

 

These coins represent the first ever effort of an Indian ruler to

issue silver coinage which could compete in market with that of Indo-

Greek coinage. Indo-Greek kings who ruled in neighboring areas

(Bactria and Punjab) issued breathtaking examples of silver coins

which, were highly sought after. This made Amoghbhuti to issue coins

of purely Indian design but of exceptional beauty to ensure economic

superiority over his neighbors. Shown above is this very attractive

silver coin of ancient India.

 

Kuninda kingdom was eventually invaded by Kushan and Shakas in middle

of first century BC. Both, Indo-Greek and Kuninda kingdoms were

annexed to make next great empire of India, Kushan empire .

 

This section is currently under construction. I am putting together

more images of coins and a lot more interesting information. Come

back soon! If you have any comments, please send at

 

 

nupam