Coinage Systems across Ancient and Medieval Periods

The history of coinage in India reflects the evolution of its economy, polity, and trade networks. From barter and cowrie shells to metallic punch-marked coins, and later to state-issued gold and silver currencies, coinage symbolized economic maturity and sovereign authority. Each dynasty — from Mahajanapadas to Mughals — introduced distinct types, metals, and minting techniques, making India one of the world’s earliest and most sophisticated monetary economies.

Ancient India: Birth of Metallic Currency and Regional Coinage

Pre-Mauryan and Mahajanapada Period (c. 600 BCE – 321 BCE)

  • India’s earliest coins, issued during the 16 Mahajanapadas (e.g., Magadha, Avanti, ....
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Indian History