Ancient coins found in Pāñcāla, Ayodhyā, Kauśāmbī and Mathurā — a Study
By Charu Chandra Das Gupta
Summary
This numismatic study analyses coin hoards discovered in four important ancient Indian urban centres: Pāñcāla (Ahichchhatra), Ayodhyā, Kauśāmbī and Mathurā. The author describes the types, metal composition and iconography of coins ranging from early punch‑marked pieces to later inscribed issues. In Pāñcāla, a large hoard of copper and silver coins bearing a humped bull motif is linked to the Udumbara dynasty. Ayodhyā yielded coins with legends referring to Mitra rulers, suggesting a local line of kings previously known only from the Purāṇas. Kauśāmbī’s coins feature elephant and tree symbols and are attributed to the Vatsa kingdom. Mathurā produced a mixed assemblage of Indo‑Greek, Śaka and early Kuṣāṇa coins indicating vibrant trade connections. By correlating coin legends with inscriptional evidence, the article proposes approximate dates for these issues and reconstructs the political landscape of the middle Ganges valley from the third century B.C. to the first century A.D. The author discusses metallurgical analyses and weight standards and points out that the introduction of die‑struck coins corresponds with increased commercial activity.
Conclusion
The survey reveals that coinage from these sites provides valuable insights into the political history and economic networks of northern India. The author concludes that Pāñcāla and Ayodhyā issued distinctive coins reflecting short‑lived local dynasties, whereas Mathurā served as a cosmopolitan hub where foreign and indigenous coinages circulated side by side. Numismatic evidence thus complements literary sources and helps refine the chronology of early Indian states.