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Coinage of India

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History of South Asia
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Outline
Palaeolithic (2,500,000–250,000 BC)
Madrasian culture
Soanian culture
Neolithic (10,800–3300 BC)
Bhirrana culture (7570–6200 BC)
Mehrgarh culture (7000–3300 BC)
Edakkal culture (5000–3000 BC)
Chalcolithic (3500–1500 BC)
Anarta tradition (c. 3950–1900 BC)
Ahar-Banas culture (3000–1500 BC)
Pandu culture (1600–750 BC)
Malwa culture (1600–1300 BC)
Jorwe culture (1400–700 BC)
Bronze Age (3300–1300 BC)
Indus Valley Civilisation(3300–1300 BC)
 – Early Harappan culture(3300–2600 BC)
 – Mature Harappan culture(2600–1900 BC)
 – Late Harappan culture(1900–1300 BC)
Vedic Civilisation(2000–500 BC)
 – Ochre Coloured Pottery culture(2000–1600 BC)
 – Swat culture(1600–500 BC)
Iron Age (1500–200 BC)
Vedic Civilisation(1500–500 BC)
 – Janapadas (1500–600 BC)
 – Black and Red ware culture(1300–1000 BC)
 – Painted Grey Ware culture (1200–600 BC)
 – Northern Black Polished Ware (700–200 BC)
Pradyota dynasty (799–684 BC)
Haryanka dynasty (684–424 BC)
Three Crowned Kingdoms (c. 600 BC – AD 1600)
Maha Janapadas (c. 600–300 BC)
Achaemenid Empire (550–330 BC)
Ror Dynasty (450 BC – AD 489)
Shaishunaga dynasty (424–345 BC)
Nanda Empire (380–321 BC)
Macedonian Empire (330–323 BC)
Maurya Empire (321–184 BC)
Seleucid India (312–303 BC)
Sangam period (c. 300 BC – c. 300 AD)
Pandya Empire (c. 300 BC – AD 1345)
Chera Kingdom (c. 300 BC – AD 1102)
Chola Empire (c. 300 BC – AD 1279)
Pallava Empire (c. 250 AD – AD 800)
Maha-Megha-Vahana Empire (c. 250 BC – c. AD 500)
Parthian Empire (247 BC – AD 224)
Middle Kingdoms (230 BC – AD 1206)
Satavahana Empire (230 BC – AD 220)
Kuninda Kingdom (200 BC – AD 300)
Mitra Dynasty (c. 150 – c. 50 BC)
Shunga Empire (185–73 BC)
Indo-Greek Kingdom (180 BC – AD 10)
Kanva Empire (75–26 BC)
Indo-Scythian Kingdom (50 BC – AD 400)
Indo-Parthian Kingdom (AD 21 – c. 130)
Western Satrap Empire (AD 35–405 )
Kushan Empire (AD 60–240)
Bharshiva Dynasty (170–350)
Nagas of Padmavati (210–340)
Sasanian Empire (224–651)
Indo-Sassanid Kingdom (230–360)
Vakataka Empire (c. 250 – c. 500)
Kalabhras Empire (c. 250 – c. 600)
Gupta Empire (280–550)
Kadamba Empire (345–525)
Western Ganga Kingdom (350–1000)
Kamarupa Kingdom (350–1100)
Vishnukundina Empire (420–624)
Maitraka Empire (475–767)
Huna Kingdom (475–576)
Rai Kingdom (489–632)
Kabul Shahi Empire (c. 500 – 1026)
Chalukya Empire (543–753)
Maukhari Empire (c. 550 – c. 700)
Harsha Empire (606–647)
Tibetan Empire (618–841)
Eastern Chalukya Kingdom (624–1075)
Rashidun Caliphate (632–661)
Gurjara-Pratihara Empire (650–1036)
Umayyad Caliphate (661–750)
Mallabhum kingdom (694–1947)
Bhauma-Kara Kingdom (736–916)
Pala Empire (750–1174)
Rashtrakuta Empire (753–982)
Paramara Kingdom (800–1327)
Yadava Empire (850–1334)
Somavamshi Kingdom (882–1110)
Chaulukya Kingdom (942–1244)
Western Chalukya Empire (973–1189)
Lohara Kingdom (1003–1320)
Hoysala Empire (1040–1347)
Sena Empire (1070–1230)
Eastern Ganga Empire (1078–1434)
Kakatiya Kingdom (1083–1323)
Zamorin Kingdom (1102–1766)
Kalachuris of Tripuri (675–1210)
Kalachuris of Kalyani (1156–1184)
Chutiya Kingdom (1187–1673)
Deva Kingdom (c. 1200 – c. 1300)
Late medieval period (1206–1526)
Ghaznavid Dynasty (977–1186)
Ghurid Dynasty (1170–1206)
Delhi Sultanate (1206–1526)
 – Mamluk Sultanate (1206–1290)
 – Khalji Sultanate (1290–1320)
 – Tughlaq Sultanate (1320–1414)
 – Sayyid Sultanate (1414–1451)
 – Lodi Sultanate (1451–1526)
Ahom Kingdom (1228–1826)
Chitradurga Kingdom (1300–1779)
Reddy Kingdom (1325–1448)
Vijayanagara Empire (1336–1646)
Bengal Sultanate (1352–1576)
Garhwal Kingdom (1358–1803)
Mysore Kingdom (1399–1947)
Gajapati Empire (1434–1541)
Ladakh Kingdom (1470–1842)
Deccan sultanates (1490–1596)
 – Ahmadnagar Sultanate (1490–1636)
 – Berar sultanate (1490–1574)
 – Bidar Sultanate (1492–1619)
 – Bijapur Sultanate (1492–1686)
 – Golkonda Sultanate (1518–1687)
Keladi Kingdom (1499–1763)
Koch Kingdom (1515–1947)
Early modern period (1526–1858)
Mughal Empire (1526–1858)
Sur Empire (1540–1556)
Madurai Kingdom (1529–1736)
Thanjavur Kingdom (1532–1673)
Bhoi dynasty (1541–1804)
Bengal Subah (1576–1757)
Marava Kingdom (1600–1750)
Sikkim Kingdom (1642–1975)
Thondaiman Kingdom (1650–1948)
Maratha Empire (1674–1818)
Sikh Confederacy (1707–1799)
Travancore Kingdom (1729–1947)
Sikh Empire (1799–1849)
Colonial states (1510–1961)
Portuguese India (1510–1961)
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Danish India (1620–1869)
French India (1759–1954)
Company Raj (1757–1858)
British Raj (1858–1947)
National histories
Regional histories
Specialised histories

Coinage of India, issued by Imperial dynasties and smaller middle kingdoms of India began during the 1st millennium BC, and consisted mainly of copper and silver coins in its initial stage.[1] Scholars remain divided over the origins of Indian coinage.[2]In recent discoveries punched mark 'Mudras'(Coins) of stone have been found in lost city of Dwaraka. Which is said to be existed at least 5000 years ago. What is known, however, is that metal currency was minted in India well before the Mauryan empire (322–185 BC),[3] and as radio carbon dating indicates, before the 5th century BC.[2]

The tradition of Indian coinage was further enriched by the coming of Islam.[4] The East India Company introduced uniform coinage in the 19th century, and these coins were later imitated by the modern nation states of Republic of India, Pakistan, Sri Lanka, and Bangladesh.[5] Numismatics plays a valuable role in determining certain period of Indian history.[5]

Post Maha Janapadas period (400 BC—200 AD)

Early coins of India (400 BC—100 A.D.) were made of silver and copper, and bore animal and plant symbols on them.[1] Coinage of Indo-Greek kingdom began to increasing influence coins from other regions of India by the 1st century BCE.[1] By this time a large number of tribes, dynasties and kingdoms began issuing their coins; Prākrit legends began to appear.[1] The Mauryan coins were punch marked with the royal standard to ascertain their authenticity.[6] The Arthashastra, written by Kautilya, mentions minting of coins but also indicates that the violation of the Imperial Maurya standards by private enterprises may have been an offense.[6] Kautilya also seemed to advocate a theory of bimetallism for coinage, which involved the use of two metals, copper and silver, under one government.[7]

The extensive coinage reserves of the Kushān empire (1st–3rd centuries CE) continued to influence the coinage of the Guptas (320 to 550 AD) and the later rulers of Kashmir.[1] During the early rise of Roman trade with India up to 120 ships were setting sail every year from Myos Hormos to India.[8] Gold, used for this trade, was apparently being recycled by the Kushān empire for their own coinage. Pliny the Elder (NH VI.101) complained about the drain of specie to India:[9]

Template:Quotation1

The Gupta empire issued a surplus of gold coins, depicting the Gupta kings performing various rituals.[1] Large hoards of Roman coins have been found throughout India, and especially in the busy maritime trading centers of South India.[10] The South Indian kings reissued Roman coinage in their own name after defacing the coins in order to signify their sovereignty.[11]

Early Common Era—Middle Ages (200 AD—1300 AD)

The percentage of gold in Indian coins under the reign of Gupta rulers showed a steady financial decline over the centuries as it decreases from 90% pure gold under Chandragupta I (319-335 AD) to a mere 75-80% under Skandagupta (467 AD).[12] Chandragupta I's coins also depict the then queen of India, Kumaradevi, a Licchavi princess, whose name is also written on the same coin.[13] The more aggressive Samudragupta (335 – 380 AD) is shown as an archer, and holding a battle axe, while Sanskrit verses praise him as an invincible warrior.[13] The Gupta emperors continued to issue coinage until the 6th century, until waves of invasions from the Huns bought their reign to an end.[1] These Huns themselves issued coinage which was imitated from the earlier prototypes.[1]

Allan & Stern (2008) report on Indian coinage of the Middle Ages:[1]

Template:Quotation1

Arab campaigns in India led to a foothold in Sindh, where very small silver coins belonging to the Umayyads are found.[1] The coinage of the Ghūrid invaders is mainly gold and silver coins, 10.76 grams each.[1]

Late Middle Ages—Contemporary History (1300 AD—2000 AD)

Further information: Indian rupee

Shēr Shāh of northern India issued massive silver currency bearing Islamic motiffs, later imitated by the Mughal empire.[1] The coinage issued by emperors Akbar and Jahāngīr bore intricate Islamic calligraphy.[1] Srivastava & Alam (2008) comment on Indian coinage during Akbar's regime:[4]

Template:Quotation1

The Mughal coinage prevalent during Akbar's reign included the main small copper denomination, the dām (Hindi-Urdu: دام/दाम).[14] Dām is believed to be the source of the (originally British) expression "to not give a damn" (i.e. to not care even a little).[15] The dām was also referred to as the paisa (پیسہ/पैसा).[14] In modern-day Hindi-Urdu, dām has become synonymous for price, and paisa is generically used as a word for money. There was a smaller copper coin, a "half dam" that replaced the bahloli of the previous Lodi standard.

Trade-routes that spanned the Arabian Sea between India, the Arab regions and East Africa spread the usage of both Indian and Arabic currency terms across all these areas.[16] Several East African terms for money, including pesa and tickey (from taka/tanka) originate from this interaction.[16]

The Chinese maerchant Ma Huan (1413–51) noted that gold coins, known as fanam, were issued in Cochin and weighed a total of one fen and one li according to the Chinese standards.[17] They were of fine quality and could be exchanged in China for 15 silver coins of four-li weight each.[17] Indigenous coinage of India continued to be issued by the East India Company until 1858, and thereafter by the authorities of British India, but a need for uniform coinage led to the curtailing of coins minted by the princely states in favor of an imperial coinage system.[1] The British started issuing uniform coinage throughout India from 1835, after a proposal put forward by James Princep. Princely states, however, continued to issue their own coinage in parallel, but in designs often similar to the British standards. The modern nation states of Republic of India, Pakistan, and Sri Lanka issued their own coinage by 1948.[1] Bangladesh soon followed on the 1 January 1972.[1]

In the Republic of India, the sole right of minting coins lies with the Government of India, as per the terms of the Coinage Act, which has undergone several amendments since it was passed in 1906.[18] Coins in denominations of 10 paise, 20 paise, 25 paise, 50 paise, one rupee, two rupees and five rupees came to be minted at the official Mints situated at Mumbai, Kolkata, Hyderabad, and Noida.[18] The various operations related to coin circulation in the Republic of India are overseen by the Reserve Bank of India.[18]

2,500 Years of Indian Coins (600 BC - 1900 AD)

Notes

  1. ^ a b c d e f g h i j k l m n o p Allan & Stern (2008)
  2. ^ a b Dhavalikar (1975)
  3. ^ Sellwood (2008)
  4. ^ a b Srivastava & Alam (2008)
  5. ^ a b Sutherland (2008)
  6. ^ a b Prasad, 168
  7. ^ Prasad, 166
  8. ^ "The Geography of Strabo published in Vol. I of the Loeb Classical Library edition, 1917".
  9. ^ "minimaque computatione miliens centena milia sestertium annis omnibus India et Seres et paeninsula illa imperio nostro adimunt: tanti nobis deliciae et feminae constant. quota enim portio ex illis ad deos, quaeso, iam vel ad inferos pertinet?" Pliny, Historia Naturae 12.41.84.
  10. ^ Curtin, 100
  11. ^ Kulke & Rothermund, 108
  12. ^ Agrawal, 18
  13. ^ a b Agrawal, 19
  14. ^ a b Irfan Habib (1963), The agrarian system of Mughal India, 1556-1707, Asia Publishing House, ... The main copper coin was the dam. In Akbar's reign, it gradually replaced the copper tanka ... the dam was also known as paisa, while the half-dam was called adhela ...
  15. ^ Mario Pei (1967), The many hues of English, Knopf, ... the damn of "I don't give a damn" is the Hindi dam, a small coin ...
  16. ^ a b NADA: the Southern Rhodesia Native Affairs Department annual, Issue 30, Government of Southern Rhodesia, 1964, ... currency terms pesa, upeni, mali, khete, tickey all derive from Hindu or Arabic currency terms still in use in what was once called the Erythraean Sea ...
  17. ^ a b Chaudhuri, 223
  18. ^ a b c Indian currency (coins): Minting and Issue. Reserve Bank of India.

See also

Wikimedia Commons has media related to Coins of India.

References

  • Allan, J. & Stern, S. M. (2008), coin, Encyclopædia Britannica.
  • Agrawal, Ashvini (1989), Rise and Fall of the Imperial Guptas, Motilal Banarsidass, ISBN 81-208-0592-5.
  • Chaudhuri, K. N. (1985), Trade and Civilisation in the Indian Ocean, Cambridge University Press, ISBN 0-521-28542-9.
  • Curtin, Philip DeArmond etc. (1984), Cross-Cultural Trade in World History, Cambridge University Press. ISBN 0-521-26931-8.
  • Dhavalikar, M. K. (1975), "The beginning of coinage in India", World Archaeology, 6 (3): 330-338, Taylor & Francis, Ltd.
  • Kulke, Hermann & Rothermund, Dietmar (2004), A History of India, Routledge, ISBN 0-415-32919-1.
  • Prasad, P.C. (2003), Foreign trade and commerce in ancient India, Abhinav Publications, ISBN 81-7017-053-2.
  • Sellwood, D. G. J. (2008), coin, Encyclopædia Britannica.
  • Srivastava, A.L. & Alam, Muzaffar (2008), India, Encyclopædia Britannica.
  • Sutherland, C. H. V. (2008), coin, Encyclopædia Britannica.
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