Story of Indian Money - XIV Rise of Rajput clans (1000-1200 A.D.)

Rise of Rajput clans (1000-1200 A.D.)

 The tenth century saw the rise of smaller regional powers like Chapas and Chaulukyas of Gujarat, Paramaras of Malwa, Kalachuris of Tripuri, Chandelas of Khajuraho, Gahadavalas of Kashi, Tomaras of Dhillika, Chahamanas of Ajayameru (Ajmer) collectively called the Rajput clans by modern historians.
Of these, the Chaulukyas adopted the imperial Gurjara-Pratihara coinage as their prototype whereas the Chahamanas and Tomaras adopted the ‘Bull-and-Horseman’ type of Hindu Shahis. The Paramaras of Malwa adopted the Gurjara-Pratihara type by replacing the fire altar on the reverse with a battle scene between a horseman and two soldiers.

The Kalachuris of Tripuri (near Jabalpur, Madhya Pradesh) initiated a new gold coin under King Gangeyadeva (1015-1040) bearing the image of seated Goddess Lakshmi flanked by elephants on either side on the obverse with the inscribed name of the king on the reverse in Devanagari. 
Gangeyadeva’s prototype was copied many other dynasties of Central India in the following centuries like the Chandelas of Khajuraho, the Yadavas of Bayana and the Gahadvalas of Kashi who replaced the king’s name on the reverse side in Nagari script. 
The Lakshmi coin type as it is called by modern numismatists was even copied and issued by Muhammad Ghori (known as Muhammad bin Sam on his coinage) when he captured the Gahadvala ruler, Jayachandra's kingdom in A.D. 1194 centred upon Kannauj.
Jayachandra, also known as Jaichand in Prithviraja Raaso, was the famous rival of Prithviraj Chauhan, Prithviraja III, of Dihilka/Ajayameru who was treacherously defeated by Ghori at the Battle of Tarrain in A.D. 1192 through Jaichand's tacit refusal to fight the Ghorid armies.
Another coin type was issued by the cadet branch of the Kalachuris which ruled from Ratnapura had the image of a lion fighting an elephant called as Gaja-Shardula in lieu of the Lakshmi image.
The coinage of Lakshmi type was probably inspired by the Gupta coinage and was the last 'Hindu' icon to occur on a North Indian coinage as the next epoch was the introduction of Islamic coinage which involved a different paradigm.

The Lakshmi image underwent progressive degradation with the parts of the deity's body showing division and separation with passage of time. This phenomenon is seen on many coinages and probably owes its origin to lack of royal patronage to the minters' art as the later dynasties were content with the crude copies of the original prototype.

Story of India Money Part XIII - Vijayanagara coinage

The Vijayanagara kingdom was found in 1336 A.D. by the warrior brothers, Harihara and Bukkaraya, the sons of Sangama Nayaka and the kingdom served as a bulwark against Islamic expansion in the South; Vijayanagara became the centre of cultural renaissance for the South India as the rulers held sway over vast areas of the south and became a byword for prosperity till the kingdom fell prey to a confederacy of Islamic sultanates in 1565 A.D. at the Battle of Talikota.

 It was ruled by four dynasties of rulers viz. the Sangamas (r. 1336-1485 AD), the Saluvas (r. 1485-1505 AD), the Tuluvas (r. 1505-1565 AD) and the Aravidus (r. 1565-1646 AD). 

All rulers issued gold coins with images of Saivite and Vaishnavite deities. 

The coins were divided into numerous denominations; gold as Gadyana or Varaha or Pon or Hon; Pratapa or Mada or Madai were other terms; silver coins were called Tara and copper coins were Pana, Jital or Kasu. 

The Varaha or Gadyana (English Pagoda) became the standard gold coin of South India with 3.4 grams as its weight; its half denomination was named Pratapa (Portuguese ~ Pardao) came in vogue in the later part of the kingdom. The Pagoda's lower denomination its one-tenth known as Panam or Fanam (weighing 0.36 gram) was equally famous and was issued in larger numbers for public consumption. 

The silver denomination was called Tara (Tar or Tare of foreign visitors) (weight ~ 0.2 gram)

Thus 1 Varaha = 2 Pratapa = 4 Katis = 10 Panams = 40 Hagas  (Gold)

    1 Panam (Gold) = 6 Taras (silver) = 18 Jitals (Copper)

The Paradigm of imperial Vijayanagara currency outlasted the Vijayanagara rulers and was used by the Deccan Sultanates (Golkonda and Bijapur), the Mughals, the Marathas, the Mysore rulers (including Hyder Ali and Tipu Sultan), the colonial powers like Dutch, English (Madras Presidency) and French and a host of smaller dynasties called the Nayakas who were the subordinates of the Vijayanagara rulers. Thus, the currency formed the core of South Indian currency till the implementation of Uniform Indian Currency by the EIC in 1835.

Below (Top two images of Gold Varaha of Deva Raya I)
Middle two images Copper Jital of Krishna Deva Raya with image of Garuda
Last two images: Gold Varaha of Krishna Deva Raya with images of Balakrishna and reverse Nagari legend 'Shri Pratapa Krishna Deva Raya'

Krishnadeva Raya of Tuluva dynasty began the trend of issuing heavier gold gadyanas (weighing 7.65 grams) called Dodda Varaha with images of Lord Venkateshwara of Tirupati, his favourite deity after vanquishing the Gajapatis of Orissa.

 Vijayanagara Empire suffered a great reversal after Krishna Deva Raya's death and its defeat in the Battle of Tallikotta at the hands of the confederacy of the Deccan Sultanates. However, its coinage lasted a longer time even after the fall of the last dynasty of Aravidus who ruled from Chandragiri in 1646; the coinage in gold served later dynasties of Mysore Rajas, Hyder Ali and Tipu Sultan and the East India Company as well who got Madras from the last ruler of Chandragiri and established their Madras Presidency from Fort St. George.
Hyder Ali issue a gold pagoda with the images of Shiva-Parvati (Hara-Gouri) with a Persian 'Ha' representing Hyder Ali on the reverse (see below)

The EIC issued a gold pagoda from Madras and named its Three Swami Pagoda (representing Lord Venkateshwara and his two wives  (See below)

 

Story of Indian Money - XII Rise of indigenous South Indian dynasties (225-1336 A.D.)

The Deccan region saw the rise of new dynasties after the fall of Satavahanas in the third century and their local successors in the Andhra region viz. Ikshavakus, Shalankayanas and Vishnukundins issued their own coinages. The Vishnukundins issued a typical coin with image of ‘a stylised lion’ on the obverse and a vase flanked by two lampstands within a rayed circle on the reverse.

In the Western Deccan, dynasties like the Traikutakas based their own coinage on the earlier prototype of the Western Kshatrapas. The Kadamba dynasty (r.345-525) of Banavasi in Uttara Kanara initiated a new gold coin called Padma tanka which revived the ancient technique of punch-mark minting with a central image of lotus deeply impressed upon the coin. These coins were emulated by many later dynasties like the Cholas, Yadavas of Devagiri and the Eastern Chalukyas.

The Kadambas were replaced by Chalukyas of Badami under Pulakeshin II (r. 610-642) who issued coins similar to the Vishnukundin prototype with his preferred epithet ‘Shri Satya’. Pulakeshin II helped his brother Vishnuvardhana capture Vengi in Andhra Pradesh and head a separate dynasty called the Eastern Chalukyas of Vengi. The Eastern Chalukyas issued gold Padma tankas with the central image of a boar representing ‘Varaha’.

The Tamil Desha region witnessed a decline of ruling dynasties of Chola, Pandya and Chera rulers between 3rd and 6th century as they were subdued by the Kalabhara dynasty. The Kalabharas were vanquished by the later Pallavas and the Pandyas. The Pallavas issued copper and lead coins with obverse images of the dynastic crest of the Pallavas, the bull. Some Pallava coins show images of lion replacing the bull.

The Chola power was revived in 850 A.D. by Vijayalaya who assumed the titles ‘Rajakesari’ and ‘Parakesari’ which used by all succeeding kings on their coins. His successors consolidated the gains by throwing of the Pallava yoke.  However, the earliest Chola ruler to issue a coin in his name was Uttama Chola (r.970-985) who issued gold and silver coins with ‘Uttama Chola’ written in Nagari for the first time on a South Indian coin! Another unique feature of Uttama Chola’s coin was the use of three royal crests viz. bow, fish and tiger symbolising the Chera, Pandya and Chola powers and symbolizing their unity under his leadership.

Rajaraja Chola (r.985-1014) increased the empire’s limits to Sri Lanka and Orissa.  He initiated a new coin type in all three metals with the image of a standing king on the obverse and sitting king on the reverse with ‘Sri Rajaraja’ in Nagari below his left arm.     

Rajendra Chola (r.1012-1044) spread his domains right till the Bengal coast assuming the title ‘Gangaikonda Chola’ (the Chola whose horses drank the waters of the Ganga). Rajaadhiraja Chola (r.1018-1054) issued similar coins during his rule.
Kulothunga Chola (r.1070-1120) was the heir to the joint fortunes of the Cholas and the Eastern Chalukyas and issued gold coins based on Eastern Chalukya coins with multiple punch marks. The central punch bears the image of two fishes, a tiger flanked by a bow and parasol and a fly whisk above; the marginal punches have two titles, ‘Kataikondacholam’ and ‘Malainadukondacholam’ referring to his conquest of Katai and Malainadu. After Kulothunga’s reign, the Cholas were soon overshadowed by Pandyas in the twelfth century.   

The Pandya coins show a consistent use of their dynastic symbol of ‘stylised fish’ throughout their history. The stylised fish emblem was also adopted by the Alupa dynasty of Dakshina Kanara (r.550-1500) who claimed to be descendants of Pandyas on their gold fanams along with the epithet ‘Sri Pandya Dhananjayam’.  The later Pandyas under Sundara Pandya and Vira Pandya ushered the golden age of Pandyas in the thirteenth century and issued gold/copper coins with the legends ‘Sundara Pandya’ and ‘Vira Pandya’ indicating the last great phase of Pandyas.

Images (numbered from top): 

1st and 2nd images : Vishnukundin Copper issue with Lion on obverse and Conch symbol on reverse

             3rd image: Kulotthunga's Gold Punchmarked issue with central image of Varaha (Boar)

             4th and 5th Image: Raja Raja Chola I's Silver Kaasu with images of seated King and Standing deity with Nagari legend 'Sri Raja Raja'

              6th Image:  Rajendra Chola I's Silver Kaasu with image of Tiger, Fish and Bow representing his rule over Cholas, Pandyas and Cheras respectively 

       7th and 8th Images: Pallavas Copper issue with image of Bull and Chakra

      9th and 10th Images: Alupas' late Gold issue with images of two fishes flanked by two lamps and Chhatra (umbrella above) and Lotus below on obverse; Kannada Legend 'Shri Pandya Dhananjayam' on reverse

Story of Indian Money XI - Rise of three empires and their subsidiary clans (c. 700-1000 A.D.)

Rise of Gurjara-Pratihara and other subsidiary clans (700-1000 A.D.)
The eighth century saw the advent of the Gurjara-Pratihara Empire which came to dominate the Northern and West India on the Gupta pattern of imperial alliances with minor powers. Although the Gurjara-Pratiharas grew under Nagabhata (r. 730-756), their maximum power was exerted by Vatsaraja (r. 775-805) who sought to capture Kanyakubja (Kannauj) as a symbol of overlordship in a three-way contest with two other major powers; the Rashtrakutas of South India and the Palas of Bengal.  Kanyakubja was seen as the centre of power in Central India after Harsha established it as his capital.
The Gurjara-Pratiharas initiated a new coinage called ‘Vigrahapala drammas’ fashioned on the Indo-Sassanid prototype of the Huns in their initial period. These coins show the right facial profile of the king with short titles like ‘Shri Vigra’ and a reverse ‘fire-altar-attended-by-two-attendants’ image with large thin surfaces. These coins were modified by Bhoja I (r. 836-882) who assumed the throne assuming the epithet ‘Srimada Aadi Varaha’. Bhoja issued coins with images of the Varaha avatar of Vishnu with this title in Nagari. The two coin types find mention in the inscriptions of Bhoja II in 905-906 at Bharatpur in Rajasthan and another inscription at Siyadoni in Jhansi district where they were used as temple donations. The coinage was modified by Vinayakapala (r. 914-933 A.D.) as Vinayakpala drammas and continued till the end of the Gurjara-Pratihara Empire in the tenth century when several feudatory rulers declared their independence.
These coins were adopted in modified forms in the eleventh century by the former feudatories of the Gurjara-Pratiharas notably the Chaulukyas and Waghelas of Gujarat, the Shilaharas of Konkan in Maharashtra, the Guhilas and the Chauhans of Rajasthan, the Paramaras of Malwa, the Chandelas of Bundelkhand in Madhya Pradesh and the Kalachuri rulers of Gorakhpur in eastern Uttar Pradesh. The later coins acquired a thick dumpy appearance resembling pellets and were current as ‘Gadhaiya paisa’ till the late fourteenth century in these regions.
Other North Indian powers and their coinages (700-1000 A.D.)
The period from eighth to eleventh century saw the rise of three other powers in north-western India; the Arab and local Amirs of Sindh, the Hindu Shahi rulers of Kabul-Gandhara region and the local Hindu rulers of the Kashmir valley. In all these regions, special distinctive coinages evolved in response to the specific demands of the local economy.

Medieval Sindh came under Islamic rule when  defeated its last Hindu ruler, Raja Dahir in 712 A.D. Sindh became the easternmost province of the Umayyad Caliphate prompting the Arabs to develop Mansura as their capital city. The main contact of Arabs in Sindh with the Caliphate’s capital Damascus was the port city of Debal. Archaeological excavations at Debal have revealed a good number of Umayyad and Abbasid dirhams but no local coins have been found. 

In the tenth century, the Arab rule was replaced by local rulers belonging to the Soomro dynasty of Sindhi Muslims. These rulers controlled the province directly initially and as vassals from 977 to 1249 A.D under the Ghaznavids and the Delhi Sultanate. The Soomro rulers styled themselves as Amirs of Sindh and issued their own silver coinage of tiny silver coins with Arabic inscriptions in the Kufic script. The Kufic script is a script consisting of straight lines and angles, often with elongated verticals and horizontals. The coins are of uniform weight weighing around 0.5 gm and minted in high quality silver. The coins came to be used in inter-regional trade with Rajasthan and Saurashtra on account of their high silver content.

The last Hindu rulers of Gandahara and Kabul called Hindu Shahis by later chroniclers initiated a unique coinage in their domains. The Kabul valley along with Gandhara lay on a lucrative trade route between India and Central Asia. The Shahis taxed the bilateral caravan trade passing through this route. They also extracted silver from Panjshir mines which enabled them to issue a distinctive coinage in silver and copper. The silver coins carry an image of a seated bull (Shiva’s Nandi) turned to left on the obverse with a Devanagari legend and an image of a mounted warrior astride a caparisoned horse on the reverse. These coins are called ‘Bull-and-Horseman’ type coins by modern numismatists and were adopted by many later dynasties including the Tomara-Rajputs and Chahamanas of Dhillika and Ajmer under the last Hindu ruler of Delhi, Prithviraj Chauhan. These coins show two major legends on the obverse; Shri Spalapatideva (army commander) and Shri Samantadeva (feudatory chieftain) and two minor legends viz. Shri Khudaraiyakadeva (lesser king) and Shri Bhimadeva (the only proper name). These silver coins were minted in large quantities by the Shahis and were one of the major attractions for the Ghaznavids who attacked the kingdom repeatedly till its absorption into the Ghaznavid Empire in early eleventh century.

Sabuktagin, the founder of Ghaznavid Empire extorted one million dirhams from King Jayapala in 986-987 A.D. during his first attack on the Shahi kingdom! His successor, Yāmīn ud-Daula Maḥmūd popularly known as Mahmud of Ghazni, took seventy million dirhams from Jayapala’s son, Anandapala in 1009 A.D. These facts have been corroborated by the finding of numerous Shahi dirhams in Ghazni during modern archaeological excavations.   

Medieval Kashmir emerged as a culturally and economically distinct region because of its relative seclusion through highly-guarded mountain passes. King Lalitaditya (r.724-760) of the Karkota dynasty lorded over the kings of the hilly regions in the north through his Digvijaya. Kashmir also became a later refuge for the Hindu Shahis in eleventh century when Mahmud Ghaznavi evicted them from Kabul-Gandhara.

Medieval Kashmir evolved a unique economic system with copper coins called ‘Puntshus’ (Sanskrit – Panchavimshati) supported by cowrie shells as minor denominations and larger exchanges executed through bills of exchange called Hundikas. The Puntshus were designed after a Hun prototype issued by Toramana in 520 A.D. featuring a standing king on the obverse and a seated goddess on the reverse.

Images Top Two images: Gurjara Pratihara Silver Dramma with image of Varaha and Nagari legend: 'Srimad Adi Varaha'

Middle two images: Kashmir Copper Puntshu of King Harshadeva (r. 1089-1111 A.D.) with seated goddess and legend 'Harsha' in Sharada script

Bottom two images: Bull-and-Horseman Silver Tanka issued by Hindu Shahi rulers of Kabul-Gandhara region  with Nagari legend 'Sri Samantadeva'

Post-Gupta Coinage

The collapse of the Gupta dynasty in the fifth century under the pressure of foreign invasions from the north-west led to the demise of the golden age of Guptas reflected most conspicuously in the coinage of the sub-continent. The post-Gupta period saw various regional coinages which were poor in terms of artistic value and minted in baser alloys like billon (silver and copper). The period is seen as a period of numismatic decline in terms of circulation with fewer coins found as coin hoards (buried treasures).

The Guptas were temporarily replaced by the Huns or the Indo-Hepthalites who invaded and occupied the Western parts of the country via Kabul-Qandahar route. Toramana, the Hun leader issued silver and copper coins fashioned on the coins of Sassanid rulers of North-West India; he also issued silver coins based on Gupta coinage turning the king's head to the left and with ‘Toramana Deva’ inscribed on the reverse.

Toramana’s Indo-Sassanid coins have a typical bust of the King facing right on the obverse and a Sassanid fire altar with Gupta Brahmi legends on reverse. Toramana ruled over Malwa region till 510 A.D. but his successor, Mihirkula was driven off Malwa by the joint forces of Narsimha Gupta ‘Baladitya’ and Yashovarman of Malwa in 528 A.D. He captured Kashmir and issued coins based on the Sassanid standards with ‘Jayatu Mihirkula’ engraved in Brahmi on the reverse.

Regional coinages continued to be highly influenced by the Gupta coinage; in Bengal, two kings, Samacharadeva and Jayagupta issued debased gold coins resembling the archer type of Guptas with a Bull standard on the coins. The reverse has Lakshmi seated on a lotus suggesting that Samacharadeva replaced the last Gupta ruler, Vishnu Gupta in the middle of the sixth century.

The next major coinage from Bengal was by Sashanka, the king of Gauda who was the rival of Maukharis of Kannauj and their famous ally, Harshavardhana. The coins have images of Shiva reclining on Nandi on the obverse and Lakshmi seated on lotus flanked by an elephant on the reverse.

At the beginning of the seventh century, the entire North India came under the sway of Harshavardhana, the ruler of Thaneswar, a small principality near Kurukshetra. Harsha was a great patron of arts, Buddhism etc. However, Harsha did not initiate any new coinage in his four decade reign. Instead, he chose to copy the ‘Eastern peacock’ type of Kumaragupta with the king’s portrait turned to left.

Top two images: Debased gold tanka of Shashanka of Gauda
Middle two images: Billion coin of Toramana
Last two images: Silver coin of Harshavardhana (Shiladitya) styled on Kumaragupta's peacock type
IMAGE COURTESY: NATIONAL MUSEUM, NEW DELHI

The Story of Indian Money – Part IX The Age of the Guptas (A.D. 320-550)

North India witnessed the rise of the Gupta dynasty in the early fourth century of the Christian era with the rise of Chandra Gupta I (r. 320 -335 A.D.) at Pataliputra in 319-20 A.D. aided by his marriage to an influential Licchavi princess, Kumaradevi, an alliance which helped him overcome his regional adversaries.
His successor, Samudra Gupta (r. 335 – 380 A.D.) took the empire to further heights by invading Central and South India and annihilating all neighbouring kingdoms on the way. Apart from his coinage, Samudra Gupta’s martial exploits are well-documented as inscriptions on the famous Prayag Prashasti (Allahabad Pillar) by his friend and court-poet, Harishena.
Samudra Gupta was also the chief architect of a prolific coinage in gold for general usage and began his reign by issuing a commemorative coin in honour of his parents’ marriage with the image of a couple with Brahmi legends ‘Chandra’ and ‘Kumaradevi’ in Gupta Brahmi script. The reverse of the same coin has the legend ‘Licchavya’ commemorating the Licchavi allies of the regime.
Samudra Gupta also initiated a new gold coin prototype, named the ‘standard type’ coin by modern numismatists, which was emulated by all later Guptas. The coin has the king’s profile on the obverse making an offering at the fire altar with his right hand. The coin also has a Garuda standard (Vaishnavite symbol) on the right with a legend written vertically below the king’s left arm in Chinese fashion. This prototype is the biggest pointer to the coinage’s derivation from Kushan coinage. The reverse has Goddess Lakshmi’s image with all attendant paraphernalia like cornucopia, lotus, etc. inspired by Kushans’ use of Ardoksho.
The Gupta coins also continued the Kushana practice of using the Western weight system of drachms (each dinar weighing around 8 gm) till Skanda Gupta (c. A.D. 455-467), the last of the Great Gupta replaced it with a heavier Indian standard known as Suvarna weighing around 9.2 g.
Another Gupta innovation was the use of Sanskrit meter legends on their coins with inscriptions in Gupta Brahmi with use of Visarga which enhances the last alphabet’s phonological effect by echoing it. This unique alphabet is seen on many Gupta coins showing the use of Sanskrit on their coins

Samudra Gupta was a prolific coin issuer and issued six different types of coins apart from the standard type, viz. the archer type, the battle axe (Parashu) type, tiger slayer type, Ashwamedha type and King-Queen type to showcase his martial achievements. He also issued the ‘Lyrist’ (Veena player) type to exhibit his gentler side.
Samudra Gupta’s illustrious son, Chandra Gupta II (Vikramaditya) (380 - 415 A.D.) further enhanced his father’s achievements by annihilating the Western Kshatrapas and went on to issue a silver coinage for his Western regions specifically fashioned after Western Kshatrapa coinage. His reign was the most prosperous of all rulers as is apparent from the predominance of his coinage in hoard findings.
Kumara Gupta I (Mahendraditya) (r.415-455 A.D.) ruled the Gupta Empire at its zenith; he issued a record fourteen types of coins, the largest by any Gupta emperor! He re-introduced the ‘Tiger slayer’ and ‘Lyrist’ types issued by his grandfather, Samudra Gupta and issued newer types like ‘Rhinoceros slayer’ ‘Peacock rider’ (Karttikeya), ‘Apratigha’ (Parents crowning him), etc.
Skanda Gupta (r. 455-467 A.D.) was the ‘last of the Great Guptas’ and braved the attacks of Hunas from the North vanquishing them. He issued many beautiful types especially the King-Lakshmi type where Goddess Lakshmi bestows victory upon the king.
But the Gupta Empire could not withstand the Hunas’ continued onslaught after his death in 467 A.D. The later rulers like Buddha Gupta (467 - 487 A.D.), Narasimha Gupta (Baladitya), Kumara Gupta II continued to fight till the last Gupta ruler, Vishnu Gupta (r. 540-550 A.D.) was confined to Kannauj as a local ruler.
Thus, the Gupta coinage set high standards in terms of quality and artistic beauty that brought Indian coinage at par with the coinage of other classical cultures like the Roman Empire, the Sassanid Empire of the Middle East and the Han dynasties of China. The Guptas also set an example for all later rulers who tried to issue similar coins in the post-Gupta period, an influence which was seen till the later day Mughal era in the sixteenth century as gold ashrafis of Akbar and Jehangir!

Featured: Samudra Gupta's Standard Gold Dinar with the epithet 'Parakramah' (with visarga on reverse) also see illustration of Sanskrit Visarga at bottom

Story of Indian Money – VIII - The rise of Deccan and Tamil Nadu (300 B.C. - 225 A.D.)

Ancient South India was divided into two culturally and politically distinct regions of Dakshinapatha (Dakshina Sanskrit ~ Dakhina Prakrit ~ Dakhan Persian ~ Deccan English) and Tamil Desha (modern Tamil Nadu and parts of Kerala).

The Satavahanas (Andhras) began their rule as vassals of Mauryans and after the Mauryan decline in 180 B.C. as vassals to their successors, the Shungas (185 B.C.-75 B.C.) and the Kanvas (75 B.C. - 25 B.C.) The Satavahanas saw series of upheavals under around 30 kings listed in the Puranas such as gain of Ujjain after death of the last Kanva king, Susharman probably assassinated by his Satavahana vassal and the loss of Ujjain to Shakas later; the loss of Western India to Shakas and gain of newer territories in Andhra Pradesh and Western Maharashtra under Gautamiputra Satakarni.

Their history as per numismatics is divided into an early and late phase with different type of regional coinages. The early phase coinage is marked by use of base metals to mint coins which had the legend ‘Satavahana’ or ‘Satakarni’ inscribed in Prakrit language using Brahmi script as ‘Satakanisa’ or ‘Sata’ with an animal or stupa image on the obverse with a typical symbol called ‘Ujjaini symbol’ (consisting of a cross joining four circles) on the reverse.

The late phase had a brilliant coinage in silver beginning under Gautamiputra Satakarni
(107 A.D. – 130 A.D.) who expanded the Satavahana realm further south and came in conflict with the Western Kshtrapa ruler, Nahapana defeating him and usurping his kingdom in 125 A.D. Gautamiputra’s silver coins were inspired by the Western Kshatrapa coinage and have the king’s portrait on the obverse with Prakrit legend written in Brahmi and the Ujjain symbol with the three-arched hill with crescent on the reverse with early Telugu legends in Brahmi. The legends have matrilinear names of the king like Gautamiputra, Madhariputra, Vasisthiputra, etc. indicating a matriarchal society.
This trend of silver portrait coins were continued by his successors, viz. Vasisthputra Pulumavi (131 A.D. – 159 A.D.), Vasisthiputra Shiva Satakarni (159 A.D. – 166 A.D.) till the last effective Satavahana emperor, Yajna Sri Satakarni (r. 167A.D. – 196 A.D.)
Vasisthiputra Pulumavi also introduced a unique lead coin with the portrait of a
double-masted ship indicating the importance of maritime trade for generation of revenue for Satavahanas as well as the technological advances made by Indian seafarers.

Another feature of Satavahana coinage arising from archaeological excavations has been the discovery of different types of local coinage in base metals issued by Satavahana rulers for various cities like their western capital Pratisthana (Paithan), Newasa (Ahmednagar district), Junnar, etc. These findings indicate that Satavahanas issued a baser coinage for local use to supplement either the Mauryan Karshapanas that continued to be used long after their issue or Roman gold coins that have been found in large quantities in South India as the primary currency. Other areas beyond Satavahanas’ western empire (parts of modern Maharashtra (Kolhapur region), Karnataka, coastal Andhra Pradesh) were ruled by local administrators appointed by Ashoka known as Mahaarathis (Maharashtriyas), Mahaatalavaras and Mahaasenapatis who set up their own kingdoms and began issuing their own coinage around second century B.C. These feudatories were subdued by Gautamiputra Satkarni in the middle of 2nd century A.D. and brought under the Satavahana rule.
Thus, a Maharathi family called Sadakana issued their coins from Banavasi (Mysore-Kanara region), another family called Anandas also issued a typical lead coinage with images of a six-arched hill with Brahmi legends with King’s name on the obverse and a tree-in-railing and Nandipada (a symbolic representation of Shiva’s vehicle Nandi) from Karwar.

The Tamil Desa was divided into three regions ruled by separate dynasties, the Pandyas (Central Tamil Nadu), Cholas (eastern Tamil Nadu) and Cheras (Kerala and parts of Coimbatore and Salem districts) in the last three centuries before Christ. The coins used in this region were Mauryan Punch-marked coins which were supported later by Pandyan Punch-marked coins as evident by finding of a hoard that has worn-out Mauryan coins along with newer Pandyan coins in Bodinayakanur in Tamil Nadu in nineteenth century.
The Pandyan punch-marked coins had a reverse stamp of stylised fish that became a heraldic symbol for the Pandyans and weigh only 1.5 gms (about half of Mauryan Karshapana) with five distinct symbols on the obverse.
The earliest Chera coins are in copper with a heraldic symbol of ‘bow and arrow’ and other side has an elephant carrying a standard.
Cholas issued square copper coins with images of a standing tiger with upraised tail and without inscriptions.
However, after the beginning of the Christian era, Tamil Desha saw a huge influx of Roman silver and gold coins due to the Indo-Roman spice trade. Pliny the Elder, famously lamented about this vicious trade that drained Roman gold into India. These coins were converted into local coinage by deeply incising the Roman Emperor’s portrait and counter-striking them with local symbols.
Thus, South India had its own trajectory in terms of the growth of monetary medium. It retained its characteristic individual nature when it came to the medieval and early colonial period as we shall see later.
Images: Top Incised Gold Aureus of Roman Emperor Caligula (Image courtesy British Museum)

Two images of coins of Vasisthiputra Pulumavi silver portrait coin and lead two masted ship coin Image courtesy: wikipedia.org

Image of Pandyan Punch-marked coin with image of stylized fish on reverse Image: National Museum, New Delhi

(To be contd.)