Ancient Indian Coins

History

History And Evolution Of Ancient Indian Coins. UPSC history

The earliest literary and archaeological evidence of coinage in ancient India dates from the seventh to fifth century B.C. Before, people used barter systems for trade. The Harappans used extensive trade with barter, and in fact, there is no consensus on the monetary value of Harappan seals. Later Vedic texts mention Suvarna and Shatamana, but we cannot consider them as full-fledged coins. The Buddhist text Ashtadhyayi refers to terms like Kahapana and pada. They can be compared with metal pieces with monetary value. The basic unit of the Indian coin weight system was a red and black seed of Gunja berry or Abrus precatorius or Ratti. In south India, Manjadi seed was used instead of Gunja berry.

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