Numismatics/Coinage (Punch-marked, Indo-Greek, Kushana, Gupta, Sultanate, Mughal)
Art & Culture › Sculpture & Numismatics · Topic 2.14
Numismatics is the study of coins, and Indian coinage begins with punch-marked coins (karshapana or purana), issued in silver from about the 6th century BCE by the Mahajanapadas and the Mauryas. Later series are the Indo-Greek coins, first with portraits and Greek-Kharosthi legends, the Kushana gold and copper coins of Vima Kadphises and Kanishka, the Gupta gold dinaras of Samudragupta and Chandragupta II, the Delhi Sultanate silver tanka and copper jital of Iltutmish, and the Mughal rupiya begun by Sher Shah Suri. Coins are key evidence for rulers, trade, religion and metal economy.
5 min read · UPSC Prelims · Art & Culture · Sculpture & Numismatics
At a Glance
- Study of coins Numismatics
- Earliest coins Punch-marked, about 6th century BCE
- Gold coins Kushana and Gupta (dinara)
- Sultanate coins Silver tanka, copper jital
- Mughal base Sher Shah Suri’s rupiya
- Exam link UPSC Prelims, Art and Culture: Sculpture & Numismatics
Where Does It Fit?
This is the last topic of the macro on sculpture and numismatics. Coins join art, trade and political history, and are tested as a source of ancient and medieval history. Previous topic: Glazed and Unglazed Pottery. Next topic: Cave Paintings (Bhimbetka, Ajanta, Bagh, Ellora).
What Are the Main Coin Series of India?
| Series | Metal and period | Key rulers | Key features |
|---|---|---|---|
| Punch-marked (karshapana, purana, pana) | Silver, copper; about 6th century BCE to 2nd century BCE | Mahajanapadas, Nandas, Mauryas | Bent bar or round pieces with symbols punched, such as sun, wheel, hill, tree and animals; no names or dates |
| Indo-Greek | Silver, copper; 2nd century BCE onward | Demetrius, Menander | Portrait of the king, Greek and Kharosthi legends, Greek gods; names and portraits make them datable |
| Kushana | Gold, copper; 1st to 3rd century CE | Vima Kadphises, Kanishka | Gold coins in large numbers; images of Shiva with Nandi, the Buddha and Greek and Iranian gods |
| Satavahana | Lead, potin, silver; 1st century BCE to 3rd century CE | Yajna Sri Satakarni | Lead coins, some with the ship, showing sea trade |
| Gupta | Gold (dinara), silver, copper; 4th to 6th century CE | Samudragupta, Chandragupta II, Kumaragupta | Archer, lyrist, Ashvamedha, Lion-slayer and Peacock types; Sanskrit legends |
| Delhi Sultanate | Silver tanka, copper jital; 13th to 16th century | Iltutmish, Alauddin Khalji, Muhammad bin Tughluq | Arabic legends; Muhammad bin Tughluq tried token currency in copper and bronze in 1329-30 |
| Mughal | Gold mohur, silver rupiya, copper dam | Sher Shah, Akbar, Jahangir, Shah Jahan | Rupiya of about 178 grains of silver; Akbar’s Ilahi coins; Jahangir’s zodiac coins |
What Do Coins Tell Us?
- Rulers and dates: Indo-Greek and Gupta coins name rulers and help in building chronology
- Religion: Kushana coins show Shiva, the Buddha and Zoroastrian deities, and Gupta coins show Lakshmi and Garuda
- Trade: Roman coins found in south India, and Satavahana ship coins, mark the Indo-Roman trade
- Economy: the metal content tells about the health of the treasury, such as the debasement of later Gupta coins
- Art: Samudragupta’s lyrist coin shows him playing the veena, which tells of his musical taste
- Political events: Ashvamedha coins mark the horse sacrifice done by Samudragupta
- Language and script: Kharosthi, Brahmi, Greek, Sanskrit and Arabic legends show the history of scripts
- Mints: mint towns and legends reveal territories and administration
What Else Should You Remember?
- Punch-marked terms: the Arthashastra of Kautilya describes silver coins as rupyarupa, copper as tamrarupa and the standard pana
- Indo-Greek firsts: the Indo-Greeks were the first rulers whose coins carry their names and portraits, while the Kushanas issued the first large series of gold coins
- Kushana gold: Vima Kadphises issued the first large gold series; the weight followed the Roman standard
- Kanishka: his coins carry Greek, Iranian and Indian deities, including the Buddha, and the legend in Bactrian
- Gupta gold: the Gupta dinara is the gold coin, derived from the Roman denarius
- Gupta silver: Chandragupta II issued silver coins after defeating the Western Kshatrapas
- Iltutmish: he is credited with introducing the Arabic-style silver tanka and copper jital in the Delhi Sultanate
- Token currency: Muhammad bin Tughluq’s token coins failed because of forgery, and he withdrew them
- Sher Shah Suri: he issued the silver rupiya and copper dam, a base for later Mughal coinage and the modern rupee
- Akbar: Akbar’s gold Ilahi coin and the Ram Siya coin are known; he used a uniform design across mints
- Jahangir: he issued the zodiac mohurs and coins with the name of Nur Jahan
- Link with art: Gupta coin portraiture is discussed in Gupta Sculpture
- Link with ware: the early punch-marked coins are found with NBPW, as in Northern Black Polished Ware (NBPW)
- Alternate spellings: karshapana is also written karshapanas, and pana, purana and dharana are related terms
Why Does It Matter for the Exam?
- Coin to ruler: Indo-Greek, Kushana, Gupta
- Term match: tanka, jital, dinara, dam, mohur, rupiya
- Firsts: portraits with names, large gold coins, rupiya
- Art link: lyrist and Ashvamedha types
- Common errors: giving the first rupiya to Akbar or the tanka to the Mughals
As an analytical point, coins are a primary source that complement inscriptions and texts. They show the shift from anonymous punch-marked issues to royal portraits, and from gold-heavy to silver-heavy economies, and they link the rupee to Sher Shah Suri.
Why Is This Topic Important?
- Types Series matched with rulers
- Terms Tanka, jital, dinara
- Source History evidence
What Came Next?
The next macro moves to painting, starting with the cave paintings of Bhimbetka and Ajanta. Next topic: Cave Paintings (Bhimbetka, Ajanta, Bagh, Ellora).
Key People and Terms
- Numismatics Study of coins
- Karshapana Punch-marked coin
- Dinara Gupta gold coin
- Tanka Sultanate silver coin
- Jital Sultanate copper coin
- Rupiya Sher Shah silver coin
Related Topics in Maarg Manthan
Study this topic together with these linked topics from other subjects.
- Money Economy and Coinage in Early India (Ancient History)
- Medieval Indian Coinage (Sultanate Tanka, Mughal Rupee and Mohur) (Medieval History)
- Archaeological Sources – Material Remains and Coins (Ancient History)
Exam Corner
Points to Remember
- Earliest coins: punch-marked, about 6th century BCE.
- Names and portraits first: Indo-Greeks.
- Largest early gold series: Kushanas and Guptas.
- Tanka and jital: Iltutmish.
- Rupiya: Sher Shah Suri.
Do Not Confuse With
- Tanka and dinara Sultanate silver versus Gupta gold
- Jital and dam Sultanate copper versus Sher Shah and Mughal copper
- Punch-marked and die-struck Symbols stamped on metal versus coins made with dies
Memory Hook
Punch, portrait, gold, dinara, tanka, rupiya.
Mains Angle
Questions ask for coins as evidence. These points give a frame.
- Source Coins and history
- Economy Trade and metal
- Continuity Rupee
A Question You May Face
An original practice question, not a past paper question.
“Discuss the importance of coins as a source for reconstructing the history of ancient and medieval India.”
How to Answer
- Intro Define numismatics.
- Series Punch-marked to Mughal.
- Evidence Rulers, trade, religion.
- Close Limits and the rupee.
GS Relevance
Frequently Asked Questions
What is numismatics?
Numismatics is the scientific study of coins, tokens and paper money. In Indian history it is used to date rulers, map territory, trace trade and study religion and art, since coins carry symbols, portraits and legends. It complements inscriptions and texts as a primary source.
What are punch-marked coins?
Punch-marked coins are the earliest coins of India, issued from about the 6th century BCE. They were made of silver or copper by punching symbols such as the sun, wheel, hill and animals on bent bars or round pieces. They carry no king's name or date.
Who issued the first coins with the names of kings?
The Indo-Greek rulers, such as Demetrius and Menander, issued the first Indian coins that carry the names and portraits of kings, with Greek and Kharosthi legends. This made their coins datable and useful for chronology, unlike the earlier anonymous punch-marked pieces.
What is the Gupta dinara?
The dinara is the gold coin of the Gupta empire, based on the Roman denarius. Samudragupta issued archer, lyrist and Ashvamedha types, and Chandragupta II issued lion-slayer types. Their fine design and high gold content mark the peak of Gupta coin art.
What is the difference between tanka and jital?
The tanka was a silver coin and the jital was a copper coin of the Delhi Sultanate, both introduced by Iltutmish in the Arabic style. A tanka was worth many jitals, and both bore Arabic legends naming the sultan and the caliph.
Why is Indian coinage important for UPSC?
Prelims asks which ruler issued which coin, the metal and the term, such as dinara, tanka, jital and rupiya. Remember punch-marked coins at 6th century BCE, Indo-Greek portraits, Kushana and Gupta gold, Iltutmish for tanka and jital, and Sher Shah for the rupiya.
PYQ Practice — Statement Analysis
1 Punch-marked coins carry the names of kings.
They carry symbols only.
2 The dinara was a Gupta gold coin.
Based on the Roman denarius.
3 Sher Shah Suri introduced the silver rupiya.
Base of the later rupee.
4 Iltutmish issued the tanka and the jital.
Silver and copper Sultanate coins.
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