Numismatic Journey of Indian Currency System During Ancient India: An Overview

Abstract

Numismatics is the study of coinage system. It highlights physical structure and contents of the coins. But study of coins also brings the knowledge about the extent of monetary dimension of an economy and technological, commercial and economic ability of the country for the period during which coins are minted. The paper brings an overview of the numismatic dimension of the ancient India starting from 6^th BC and upto 8^th AD. It covers almost 1400 years of India’s monetary past. The paper highlights that the ancient India was quite a capable economy with well-developed monetary system. There was vibrant international trading with other empires of the world. The periods of Magadha Janapada and Guptas, which were characterised by not only geographical expansion but also substantially longer regime, had very well designed monetary system and currencies. The currencies which prevailed were mostly silver coins during the Mauryan period and mostly gold coins during the Gupta period. The Gupta period also witnessed foreign influence in the design of its gold coins after advent of the Kusanas during the pre-Gupta period. There have been some periods when the influence and existence of these empires have been weakened and foreign powers and local smaller powers have taken the control of the ancient India and it has led to disarray in the economic and administrative functioning of the ancient India and so is the monetary system. The economic prosperity of ancient India at the global level is reflected by this numismatic study of the coinage system of ancient India.