Preface
The origin of money in India and its manufacture makes an interesting study. The barter system of exchanging goods was prevalent in ancient India from the Vedic period. However, the barter economy has gradually given way to the money economy through the medium of coins, due to their apparent advantages. Coins made of metals are durable, portable, homogenous, and easily divisible. The origin of coins in India dates back to the 6th and 7th centuries B.C., during which time local janapadas in various parts of India issued their first coins. This was followed by the introduction of national coinage during the Magadha, Nanda, and Mauryan periods. After the Mauryan disintegration, the coinage continued to be issued by the ruling authorities in various parts of the country. All the coins during the ancient period were handmade till the introduction of machine-made coins during the colonial era. In the evolution of ancient Indian coinage, the earliest coins to be issued were the punch-marked coins, which were named for the technique used in their manufacture (Prinsep, 1835). These coins were devoid of any legend indicating either the name of the issuer or the name of the dynasty to which the ruler belonged. These coins had symbols imprinted with punches, and they were of two types: local janapada and imperial. The former belonged to an earlier period. Janapada coins were discovered in a localized area of the country, which is geographically described as belonging to a certain janapada in ancient texts. One may recall that Panini, who is dated to the 4th century BC, described the geographical locations of approximately 30 janapadas in the Ashtadyayi. Magadha, which originated as a 'janapada', initially issued a distinctive type of local coinage that differed from the coins of other janapadas in the country (Gupta, 1994). Magadha later became a 'mahajanapada' (Maha meaning 'greater') by conquering adjacent janapadas, including Anga, Kashi, Kosala, Vaishali, and Avanti, and emerged as an imperial power ruling most of northern and central India. Magadha issued coinage that may be called India's first national currency, which was given the title of imperial type of punch-marked coins. Magadha rule from Pataliputra was followed by that of the Nanda, Maurya, Sunga, and Kanva dynasties, and all of these dynasties issued punch-marked coins of the imperial type. There were distinctive features of these two types of punch-marked coins, namely local and imperial (Gupta & Hardaker, 1985). Imperial had five symbols on the obverse, which included the sun and six-armed marks on every coin, as well as three other symbols that varied. These imperial coins weighed 32 ratties uniformly in mint condition (54 grains or 3.4 grams). In contrast, local coins had less than five marks, and sun and six-armed marks were absent on them, and their weights varied.
About The Book
The origin of coins in India dates back to the 6th and 7th centuries B.C., when local janapadas in various regions issued their first coins. This was followed by the introduction of national coinage during the Magadha, Nanda, and Mauryan periods. Indian coinage has spanned over 2700 years, and its study has revealed that it developed its own language. Countermarks are seen when a victorious king puts his name or mark on the coins in circulation of the defeated king. Gautamiputra Satakarni counterstruck coins of the Western Kshatrap king Nahapana after defeating him, and a large hoard of silver counterstruck coins was discovered in Jogeltembi. Another example is the countermarks found on Samagopa coins, attributed to Chimuka Satavahana. Roman coins bearing a slash mark were found. Countermark may consist of a symbol or a legend. Sometimes, countermarks on coins provide information not found in other historical sources, such as literary works and inscriptions. The book describes the countermarks on certain ancient coins found in the Dakshinapatha and their meanings.
About The Author
Dr. Deme Raja Reddy is a numismatist and a neurosurgeon. He is the recipient of the presidency of the two leading numismatic societies of India, namely the Numismatic Society of India and the South Indian Numismatic Society. Other honours include the "Marremanda Rama Rao' medal of the Numismatic Society of India, the P.L. Gupta medal of the South Indian Numismatic Society, the presidency of the Ancient History Section of the Andhra Pradesh History Congress, and the presidency of the Telangana History Congress. Raja Reddy hails from Telangana and has contributed extensively to the study of coins of the Deccan, publishing over 20 books and approximately two hundred articles in national and international jemals Raja Reddy has been a pioneer neurosurgeon eon of the cond been the director of the prestigious Nizam's Instin Sciences of Hyderabad. He has been awardo achievement award of the Neurological Society of india
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