Ancient Indian Coinage Terminology in Sanskrit Literature
By V. Yamuna Devi
Summary
The study of coinage in ancient India, as analyzed through Sanskrit literature, reveals a sophisticated monetary system dating back to the Vedic period. Coins served three primary purposes: purchasing commodities, offering Dakshina (honorariums) to priests and teachers, and paying taxes. Early evidence from the Śatapatha Brāhmaṇa (III.3.3.1-5) indicates gold as a common medium of exchange, with terms like *candra* (a gold piece) and *ṣatamāna* (a gold coin equivalent to 100 units). The *niṣka*, another gold coin, represented a higher denomination, valued at 100 *candras*. Subunits like *kalā*, *śapha*, and *śafa* (fractions of a *niṣka*) were also documented. Grammatical texts, such as Pāṇini’s *Aṣṭādhyāyī* (700 BCE), further elaborate on coin terminology, confirming *niṣka* as a gold coin and introducing terms like *śāṇa* for silver. The *Arthaśāstra* (6th century CE) details minting processes, specifying silver coins (*rūpya*) as alloys of copper with tin, lead, or antimony, and copper coins (*tāmra rūpa*). It also mentions regulatory mechanisms, including officials like *lohāhyakṣas* (metal supervisors) and *rūpadarśaka* (coin inspectors). Excavated specimens and literary references, including the *Jātakas* and *Smṛti* texts, corroborate the use of punch-marked coins in gold, silver, and copper. Tables of weights, such as *rattis* and grains, were standardized, with silver *śatamāna* (100 *rattis*) and copper *k
Conclusion
The study of ancient Indian coinage through Sanskrit literature reveals a sophisticated monetary system with gold, silver, and copper coins serving commercial, religious, and fiscal purposes. Terms like *Niṣka*, *Śatamāna*, and *Kārṣāpaṇa* denote standardized denominations, reflecting advanced metallurgy and administrative oversight. The presence of mints and officials like *rūpadarśaka* underscores state regulation of currency. This system, evolving from the Vedic period (6th century BCE) to the 6th century CE, highlights India's early economic and administrative maturity. Further research into Sanskrit texts could uncover additional insights into the cultural and economic implications of this numismatic heritage.