A COMPLEX COIN HISTORY
Indian coinage has a long and varied historical tradition, which can be broadly it is divided into ancient coinage, represented by punch-marked coins from the 4th century BC to the 1st century AD; medieval coinage which is represented by Arab, Sultanate and Mughal coins from the 11th century AD to 18th century AD (as explained in detail on page 24); and modern coins, which include the issues of European, English trading companies and Indian kingdoms and states from 18th century onwards.
The ancient coinage of India began with silver and copper currency, known as punch-marked coins. These coins were used across India by merchants mainly as trade currency. The coins were weighed pieces of silver, stamped on only one side with several punches of different symbolic signs – such as animals, plants, the sun, the moon, and planets. – the earliest of these are oval, flat or bent bar coins. The pieces were predominantly
