Indian coinage

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The history of Indian coinage stretches back at least 2600 years. Several dynasties have come and gone, as have rulers like Alexander the Great, the British, the Portuguese and the Dutch, leaving an intricate trail of coinage behind.

It is impossible to talk of coinage over such a long period without also talking about history, and hence this article runs parallel to the article History of India.

Contents 1 Archaic Period of Janapada coinage 2 Mauryan Period (322–185BCE) 3 Pandyan Kingdom100-1250 South 4 Satavahana 230BCE - 220CE south 5 Kuninda Kingdom 6 Sunga Period 7 The Classical Age 8 Bactria 9 Indo-Greeks 10 Indo-Parthians 11 Yuezhi 12 Indo-Scythian issue 13 Kushan Empire 14 Paratarajas 15 Western Satraps 16 Kalabhras 17 Indo-Sassanians 18 Chutu 19 Gupta Empire 20 Vakataka 21 Kidarite Kingdom 22 Naga Kingdom 23 Yaudheyas 24 Indo-Hephthalites 25 Pallavas 26 Rashtrakutas Empire 753 – 982 27 Chalukya Empire 28 Western Chalukyas 973 – 1189 south 29 Pratihara 30 Pala Empire 31 Rashtrakuta 32 Shahi 33 Solanki 34 Sena dynasty 35 Chola Empire 36 Kadambas of Goa, Hangal 37 Kakatiya dynasty1083 - 1323 South 38 Hoysala Empire1026 – 1343 South 39 Vijayanagara Empire 1336 – 1646 South 40 Islamic Rule 41 Sultan 42 Mughal Dynasty 43 Maratha Empire 44 Dependant and Independent states 44.1 Pudukkottai Kingdom 44.2 Madras Presidency 44.3 Hyderabad 44.4 Travancore 44.5 Gwalior State 44.6 Indore State 45 Colonial India 45.1 British 45.2 Portuguese 45.3 French 45.4 The Danes 46 Independent Countries 47 Miscellaneous 48 See also 49 References 50 Notes 51 External links used as references

[edit] Archaic Period of Janapada coinage

The first coins in India were minted around the 6th century BCE by the Mahajanapadas of the Indo-Gangetic Plain, and certainly before the invasion of Alexander the Great in the 4th century BCE. The coins of this period were punch marked coins called Puranas, Karshapanas or Pana. Several of these coins had a single symbol, for example, Saurashtra had a humped bull, and Dakshin Panchala had a Swastika. Others, like Magadha, had several symbols, which were made of silver of a standard weight but with an irregular shape. This was gained by cutting up silver bars and then making the correct weight by cutting the edges of the coin.^{[citation needed]}

They are mentioned in the Manu, Panini, and Buddhist Jataka stories and lasted three centuries longer in the south than the north (600BCE-300CE)".^[1]

Areas considered to have issued different coins are:

• Gandhara^[2]
• Kuntala^[3]
• Kuru^[4]
• Panchala^[5]
• Shakya^[6]
• Shurasena^[7]
• Surashtra^[8]

A Forum on Coins of India : http://forum.bharatcoins.com

[edit] Mauryan Period (322–185BCE)

During the Mauryan period, punch marked coins continued to be issued in large quantities, these are a continuation of the Magadha Kingdom coinage as the ruling house of this empires established the Mauryan Empire. They contained on average 50-54 grains of silver in each coin depending on wear and 32 rattis in weight Manu smruti,^[9] and earlier coins are flatter than later coins. Punches on these coins count to 450 with the most common the sun and six-armed symbols, and various forms of geometrical patterns, circles, wheels, human figures, various animals, bows and arrows, hills and trees etc. Many are barly discernible for what they could be.

The basic coin is called the Karshapana (pana) in numismatic terms but the Arthasastra stated there are at least 4 denominations of silver coins in pana, ardhapana (half pana), pada (quarter pana) and ashta-bhaga, or arshapadika (one-eighth pana).^{[citation needed]} But only the Karshapana is found. There is no issues found of the other denominations even though cut coins are found.

Copper coins are known but their provinences are not. They are cast and with images of a hill or mountain, crescent moon, cross, swastika and various animals.^[10]

[edit] Pandyan Kingdom100-1250 South

Earliest coins of the Pandyan Kingdom were copper squares and were struck with a die. The coins were uni-side with an image of an elephant on that side. Upon the revival of the Kingdom in the 7th-10th centuries, the predominant image was one or two fish. Sometimes they were with other images like a "Chola standing figure" or the "Chalukyan boar." The inscription on the silver and gold coins is in Sanskrit, and most of their copper coins have Tamil legends.^[11][12]

[edit] Satavahana 230BCE - 220CE south

The coinage of the Satavahana were issued mainly in lead with the next common material being silver with copper. The silver and copper coins were called Potin's. Coins of pure silver were selden issued.

The style of these coins is not artistic, but they do show recognizable designs such as Buddhist Shrines and Chaitya, or animals such as the elephant, horse, lion, etc. On the reverse side of the coins is depicted the so-called Ujjain symbol, which is "a cross with four circles at the end of the two crossing lines."^[13]

In the image on the right, the obverse has Bust of the king with an Asokan Brahmi legend in Prakrit: "Siri Satakanisa Rano ... Vasithiputasa". The reverse has an Ujjain/Sātavāhana symbol facing left. Crescented six-arch chaitya hill right and a River below. Tamil Brahmi legend: "Arahanaku Vahitti makanaku Tiru Hatakaniko."

[edit] Kuninda Kingdom

Kuninda issued silver coins which were bilingual, bearing legends in Prakrit written in Brahmi script on one side, and Kharoshti on other.^[14] The coin shown has on the obverse a standing deer, crowned by two cobras, attended by Lakshmi holding a lotus flower. Legend in Prakrit (Brahmi script, from left to right): Rajnah Kunindasya Amoghabhutisya maharajasya ("Great King Amoghabhuti, of the Kunindas"). On the reverse: Stupa surmounted by the Buddhist symbol triratna, and surrounded by a swastika, a "Y" symbol, and a tree in railing. Legend in Kharoshti script, from right to left: Rana Kunidasa Amoghabhutisa Maharajasa, ("Great King Amoghabhuti, of the Kunindas").

[edit] Sunga Period

Sungan coinage issued between 185 to 73 BCE were copper ¼, ½ and 1 silver karshapana. The fractions were first punched then later cast and made of copper.

On the ½ karshapana were usually pictures of a three-arched hill (chaitya) below a crescent and a railed tree to the right. The other side contained an elephant to the left. Average dimensions are 16 mm with a weight of between 2.5 and 3.1 grams.

The ¼ karshapna had an image of an elephant and rider to the left, with the opposite side containing a three arched hill or mountain called a chaitya with crescent ubove. Diammeter is on average 14 mm, and a varied wight of 1.2 and 2.7 grams.

The silver Pana was a punch marked coin and is distinguishable from the type of punch involved^{[citation needed]}, it was a continuation of the Mauriyan coinage.

[edit] The Classical Age

The classic age was the great age for India, which was a time when Indian society peaked. It was during this period that a type of Greek standard in coinage was adopted, first by the Greek influenced powers such as the Indo-scythians and Kushans and then the Indian Empires themselves. Pictures of Ancient Coins

[edit] Bactria

The coinage of Bactria is based on the Hellenistic Greek design, and is a descendant of the Seleucid coinage which was a descendant of Alexander the Greats coinage. There are bronze chalkoi and Oboluss and silver obal and drachm denominations.

Languages written on the coins were Greek and later the Bactrian language in the Greek alphabet.

[edit] Indo-Greeks

Similar to other Hellenic issues.

[edit] Indo-Parthians

[edit] Yuezhi

Obverse is a bust of Sapadbizes (c 20 BCE). Greek legend CAΠAΛBIZHC "Sapallizes". Reverse has a lion with Greek legend NANAIA repeated left and right (name of a goddess). Tamgha of hill & crescent. Qunduz mint, in Afghanistan.

These coins were in the same design and presumably denomination as the Indo-Greek coins. They were a prelude to the Kushan coinage which started out the same but later changed in design.

[edit] Indo-Scythian issue

These coins are unique in design and contain Greek and Kharoshthi legends, and similar ones to the Indo-parthian issues. The coins issued were calkoi, drachms and tetradrachms, later silver coins were mainly debased and copper issue. Coin sizes rarely exceeds 25 mm in diameter.^[15]

[edit] Kushan Empire

The main coin issued was made of gold weighing 7.9 g, later debased with silver, and base metals of various weights ranging between 12-1.5g. No silver was issued.^[16]

The base metal coins are usually warn so a bare image is exposed. Coins are a little stylised to make them distinct from other coins, usually picturing a deity on one side and the king on the other. MacDowell (1968) identified 3 regional copper issues of Kajula Kadphises and Vima Taktu of separate coinage in there first issue, this would correspond to three previous empires. The northern area is Bactria which had the largest sized coins of 12 g (tetradrachms)and 1.5 g, Gandharan whoes coinage weighed 9-10g for lageg and 2 g for small and Indian coins of 4 g each. MacDowell (1960) proposed a gradual reduction of all 3 issues starting with Huvishka and Chattopadhyay (1967) proposes a rapid devaluation of the issue by Kanishka. It seems that there were two reductions based on the coinage of the rulers just named.^[17]

Later issues were unified into a central coinage system of weights.

[edit] Paratarajas

^[18]

[edit] Western Satraps

Coin depicts Obv: Bust of Bhratadarman, with corrupted Greek legend (Indo-Greek style).
Rev: Three-arched hill or Chaitya, with river, crescent and sun, within legend in Brahmi.]]

[edit] Kalabhras

[edit] Indo-Sassanians

The Sassanids replaced the Greek gods found on the verso of Parthian coins with Zoroastrian symbols, and replaced the Greek text with Middle Persian written in the Pahlavi script.

[edit] Chutu

Chutus and Mudas (Deccan Satavahana feudataries) coin of ruler Mulananda c. 125-345 CE. Lead Karshapana 14.30g. 27mm. Arched hill/stupa with river motif below, tree within railed lattice, triratana/nandipada to right

[edit] Gupta Empire

The issue of the Guptas was a continuation of the Kushan and western Kshatrapas issue in style for which they replaced. The gold coins were based on the former where silver were based on the later.^[19]

[edit] Vakataka

[edit] Kidarite Kingdom

[edit] Naga Kingdom

The various Kings of the Nagas of Narwar issued coins of 1, 1/2 and 1/4 kakini, from 5-15 mm in size and all issued in bronze. Designs were humped bull facing left, wheel peacock, trident and various other designs. The Nagas of Narwar occupied the region of Padmavati, Kantipuri, Mathura and Vidisha around the period of 200-340 CE. In this period there was substantial trade between India and Rome in spices, fabric and gold. Text used was in the Brahmi script ^[20] of an Early Prakrit language.

[edit] Yaudheyas

^[21][22]

[edit] Indo-Hephthalites

Coin depics Obv: Napki Malka type bust, winged headdress with bull head in the center. Pahlavi legend "NAPKI MALKA".
Rev: Zoroastrian fire altar with attendants either side. Sun wheel, or possibly eight-spoked Buddhist Dharmacakra, above left.]] Based on the design of the Sassanid coinage but a little barbarous.

[edit] Pallavas

Pallavas ruled in "Tondainadu" Northern part of Tamil country. The period belong to pallava rule was 600 A.D TO 900 A.D .Early studies about pallava coins were made by Sir Walter Elliot(1858), T.Desikachary(1933), C.Minaksi(1938), S.Ramayya(1967). The pallava coins were minted in Lead, Copper and Bronze. Silver and Gold are rare, and so far not yet discovered, but in pallava inscriptions there is the note about the Gold coins. The coins were mostly round, very few in square. They Weight about 0.450 to 9.8 grams and Size is about 1 cm to 2.5 cms. Basic symbol in pallava coins is Bull and Lion. Bull is the Royal Emblem of Pallavas and Emblem of Lord Siva. Apart from bull and lion, symbols like Svastika, Cakra, Flag, Twin masted ship, Elephant, Crescent were also seen in pallava coins.

[edit] Rashtrakutas Empire 753 – 982

[edit] Chalukya Empire

Chaulukyas of Gujarat also known as Gadhaiya. There are different dynasties, refer to the link above for more detail. The Badami Chalukyas minted coins that were of a different standard compared to the northern kingdoms.[75] The coins had Nagari and Kannada legends. They minted coins with symbols of temples, lion or boar facing right and the lotus. The silver coins weighed 4 grams and were called honnu in old Kannada or Gadhaiya Paisa in English and had fractions such as fana and the quarter fana, whose modern day equivalent being hana (literally means, money). The coin is highly stylised so a clear definition of a portrait can not be distinguished. A gold coin called Gadyana is mentioned in some record in Pattadakal which later came to be known a varaha which was also on their emblem.

[edit] Western Chalukyas 973 – 1189 south

The Western Chalukyas minted punch-marked gold pagodas with Kannada and Nagari legends^[23] which were large, thin gold coins with several varying punch marks on the obverse side. They usually carried multiple punches of symbols such as a stylised lion, Sri in Kannada,^[24] a spearhead, the king's title, a lotus and others. Jayasimha II used the legend Sri Jaya, Somesvara I issued coins with Sri Tre lo ka malla, Somesvara II used Bhuvaneka malla, Lakshmideva's coin carried Sri Lasha, and Jagadhekamalla II coinage had the legend Sri Jagade. The Alupas, a feudatory, minted coins with the Kannada and Nagari legend Sri Pandya Dhanamjaya.^[25] Lakkundi in Gadag district and Sudi in Dharwad district were the main mints (Tankhashaley). Their heaviest gold coin was Gadyanaka weighting 96 grains, Dramma weighted 65 grains, Kalanju 48 grains, Kasu 15 grains, Manjadi 2.5 grains, Akkam 1.25 grains and Pana 9.6 grain.

[edit] Pratihara

[edit] Pala Empire

[edit] Rashtrakuta

[edit] Shahi

[edit] Solanki

[edit] Sena dynasty

[edit] Chola Empire

The coins issued by the later Chola Empire were a highly stylised issue of the king or animal motives. They were issued in copper, silver and gold Kahavanu, though the gold also came in fractions of the unit. ^{[27] [28] [29] [30]} These coins were also issued in there occupation of Sri Lanka, the obverse usually had the king with various cymbles and the reverse of the king on the throne with a Nagari legend.^[31]

[edit] Kadambas of Goa, Hangal

[edit] Kakatiya dynasty1083 - 1323 South

[edit] Hoysala Empire1026 – 1343 South

[edit] Vijayanagara Empire 1336 – 1646 South

The standard unit of coin issued by the Vijayanagara Empire was the gold Pagoda in English or Varaha of 3.4 gr. The Varaha was also called the Hon, Gadyana or a Pon and came in the Ghattivaraha, Doddavaraha and Suddhavaraha coin. In the gold issue the different coins came in Varaha, this is used as a reference for the other coins values. 1 gold Varaha = 2 Pratapas = 4 Katis = 8 Chinna = 4 Haga = 2 Bele. 1 Pana or Varana equaled 16 tara silver coin, with the 1 Tara to 3 copper Jital. The copper Duggani was equal to 2 copper kani or kakin, 5 Kasu and 10 Ara Kasu.^[32] There were also other units of silver and copper based on their relationship with the Pagoda.^[33]

[edit] Islamic Rule

[edit] Sultan

Delhi Sultanate
Deccan sultanates
Bengal Sultanate
Bijapur Sultanate
Gujarat Sultanate
Jaunpur Sultanate
Khandesh Sultanate
Malwa Sultanate

[edit] Mughal Dynasty

Issued Mohur.

[edit] Maratha Empire

[edit] Dependant and Independent states

[edit] Pudukkottai Kingdom

[edit] Madras Presidency

Madras fanam

[edit] Hyderabad

Hyderabad rupee

[edit] Travancore

Travancore rupee

[edit] Gwalior State

[edit] Indore State

Coins of Holkar

[edit] Colonial India

[edit] British

British Indian coins

[edit] Portuguese

The Portuguese remained in India until forcibly removed by the government of India in 1961.

They struck coins at Bacaim, Bacaim & Chaul, Cochim, Damao, Diu and Goa in various metals including, silver, copper, lead and tin.

Portuguese Indian rupia Portuguese Indian escudo

[edit] French

French Indian rupee

[edit] The Danes

Danish Indian rupee

[edit] Independent Countries

• Modern Indian coins
• Pakistani rupee
• Bangladeshi taka
• Nepalese rupee
• Bhutanese ngultrum
• Sri Lankan rupee
• Coins of the Maldivian rufiyaa

[edit] Miscellaneous

Pagoda (coin)

[edit] See also

• History of Rupee
• Coinage of Asia
• Middle kingdoms of India
• Rakhaldas Banerjee (An expert on medieval Indian coinage)
• Pre-modern coinage in Sri Lanka

[edit] References

Bruce, Colin. R.; John. S Deyell, Nicholas Rhodes, William F Spegel, (1982). The Standard Guide to South Asian Coins & Paper Money since 1556. ISBN 0-87341-069-6.

Gupta, Parmeshwarli Lal, (1969) India The Land and People. Coins. National Book Trust, India

Mitchener, M, (1978). Oriental Coins and Their Values The Ancient & Classical World 600BC-AD600. Hawkins Publications London

[edit] Notes

[edit] External links used as references

• Reserve Bank of India Museum
• World coin gallery Free to use on wikipedia
• A website on British India Coins by Dr P`V Bharat
• Indian Princely States No coin links, but a full list of princely states
• Varun Parekh's collection Images of all coins of the Repulic of India.
• Portal on Indian coinage
• South Asia Coin Group
• Catalog of Indian Coins
• Coins and Manuscripts
• Legends on Indian Coins