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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 3 Satavahana 4 Kuninda Kingdom 5 Sunga Period 6 The Classical Age 7 Bactria 8 Indo-Greeks 9 Indo-Parthians 10 Yuezhi 11 Indo-Scythian issue 12 Kushan Empire 13 Paratarajas 14 Western Satraps 15 Kalabhras 16 Indo-Sassanians 17 Gupta Empire 18 Vakataka 19 Pallava 20 Kidarite Kingdom 21 Naga Kingdom 22 Kidarite Kingdom 23 Indo-Hephthalites 24 Pallavas 25 Chalukya Empire 26 Pala Empire 27 Rashtrakuta 28 Shahi 29 Solanki 30 Sena dynasty 31 Chola Empire 32 Vijayanagara Empire 33 Islamic Rule 34 Mughal Dynasty 35 Maratha Empire 36 Dependant and Independant states 36.1 Pudukkottai Kingdom 36.2 Madras Presidency 36.3 Hyderabad 36.4 Travancore 37 Colonial India 37.1 British 37.2 Portuguese 37.3 French 37.4 The Dutch 37.5 The Danes 38 Independent Countries 39 Miscellanious 40 References 41 See also 42 External links used as references

The first coins in India were minted around the 6th century BC by the Mahajanapadas of the Gangetic plains, and certainly before the invasion of Alexander the Great in the 4th century BC. 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]

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 warious forms of geometrical patterns, circles, wheels, human figures, various animals, bows and arrows, hills and trees etc. Many are barly discernable 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]

Obv: Bust of king. Asokan Brahmi legend Prakrit: Siri Satakanisa Rano ... Vasithiputasa. Rev: Ujjain/Sātavāhana symbol left. Crescented six-arch chaitya hill right. River below. Tamil Brahmi legend: Arahanaku Vahitti makanaku Tiru Hatakaniko.

Kuninda issued silver coins which were bilingual, bearing legends in Prakrit written in Brahmi script on one side, and Kharoshti on other^[11]. The coin shown has on the obverse a Deer standing right, 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 righ to left: Rana Kunidasa Amoghabhutisa Maharajasa, ("Great King Amoghabhuti, of the Kunindas").

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 16mm 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 14mm, and a varied wight of 1.2 and 2.7 grams.

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

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.

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

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

Similar to other Hellenic issues.

Obverse is a bust of Sapadbizes (c 20 BC). 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.

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 25mm in diameter.^[12]

Main issue was of Gold 7.9g, laer debased with silver, and base metals of 12-1.5g. No silver was issued. ^[13]

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, usualy picturing a diety on one side and the king on the other. MacDowell (1968) identified 3 regional copper issues of Kajula Kadphises and Vima Taktu of seperate coinage in there first issue, this would correspond to three previous empires. The northern area is Bactria which had the largest sized coins of 12g (tetradrachms)and 1.5g, Gandharan whoes coinage weighed 9-10g for lageg and 2g for small and Indian coins of 4g 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. ^[14]

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

^[15]

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.]]

.

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.

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. ^[16]

1, 1/2 and 1/4 kakini of issue, from 5mm-15mm all issued in bronze.

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.

Chaulukyas of Gujarat also kown 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.

Issued Mohur.

Madras fanam

Hyderabad rupee

Travancore rupee

British Indian coins

Portuguese Indian rupia Portuguese Indian escudo

French Indian rupee

No independant article on the coinage identified, but refer to this.Dutch India

Danish Indian rupee

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

Pagoda (coin)

1. ^ http://www.chennaimuseum.org/draft/gallery/04/01/coin1.htm Accessed 07/03/2007
2. ^ http://home.comcast.net/~pankajtandon/galleries-gandhara.html Accessed 05/03/2007
3. ^ http://home.comcast.net/~pankajtandon/galleries-kuntala.html Accessed 05/03/2007
4. ^ http://home.comcast.net/~pankajtandon/galleries-kuru.html Accessed 06/03/2007
5. ^ http://home.comcast.net/~pankajtandon/galleries-panchala.html Accessed 06/03/2007
6. ^ http://home.comcast.net/~pankajtandon/galleries-shakya.html Accessed 06/03/2007
7. ^ http://home.comcast.net/~pankajtandon/galleries-shurasena.html Accessed 06/03/2007
8. ^ http://home.comcast.net/~pankajtandon/galleries-surashtra.html Accessed 06/03/2007
9. ^ http://www.med.unc.edu/~nupam/ancient1.html accessed 15/2/2007
10. ^ http://www.geocities.com/ancientcoinsofindia/earlym.html accessed 15/2/2007
11. ^ http://www.zeno.ru/search.php?searchid=1370 Accessed 03/03/2007
12. ^ http://www.forumancientcoins.com/india/sakas/iscyth_cat.html accessed 15/2/2007
13. ^ http://www.onsnumis.org/articles/kshaharata.shtml Accessed
14. ^ http://www.kushan.org/coins/huvishka/devaluation.htm Accessed 25/03/2007
15. ^ http://home.comcast.net/~pankajtandon/galleries-parata-rajas.html
16. ^ http://www.grifterrec.com/coins/india/ancientindia3.html Accessed on 23/03/2007
17. ^ Not one of the numerous references that appear in Tamil literature tells us anything of its origin. The Telugu Cholas who claimed to have descended from the Early Cholas adapted the lion crest.

• History of Rupee
• Coinage of Asia
• Middle kingdoms of India
• Rakhaldas Banerjee (An expert on medieval Indian coinage)

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• Varun Parekh's collection Images of all coins of the Repulic of India.
• Coins Information of Indian coins.
• Portal on Indian coinage
• Ancient coins of India
• South Asia Coin Group

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