*Numismatic as a Source of Social Antiquity:Early Indian Context

Money is usually defined by the economist in terms of its functions, most prominently

as a means of exchange, as a means of payment, a unit of account and a store of value. These

roles also articulate a logical explanation of how and why the use of money originated. But if

we judge historically then we can see that the function of money is to some extent complex.

Money is not only a media of exchange in the ancient or medieval times. Money had its own

socio-cultural nature. Issuing coins in the time of coronation was an ancient practice among

the rulers of ancient and medieval times. They issued coins in their names at the time of

accession, at the time of military victory or to commemorate an event of great importance.

Thus in every socio-administrative matters coins became an integral part of royal life. This

prolonged use of coins in socio-administrative matters was also practiced by the ancient

ruling dynasties of India. In the period between sixth century B.C. to seventh century A.D.

Indian subcontinent swamped with currencies. These currencies were not only important in

economic perspective but also had a very significant function in curving out social history of

early India.

If we trace the antiquity of coinage in India then we see that some scholars of social

history emphasized that the earliest coins were minted by merchants.1 This is undoubtedly a

crucial question in the study of society. As soon as the state control on the economy was

slackened the guild of merchants found in opportunity to put in circulation their coinage. The

separate laws of guilds (Srenidharma) are recognized in the Manusamriti and the

Yajnavalkyasmriti. The Visuddhimagga of Buddhaghosh informs us that Nigama could issue

currencies of their own name. Nigama has been interrelated as a town or city, a corporate

body vested with some administrative functions including circulation of coins. 2 Two copper

coins discovered at Kausambi bear the legend Gandhikanam and probably represent the

1
Gardner Percy, A History of Ancient Coinage, Oxford, 1918.
2
Sircar D.C, Studies in Indian Coins, Delhi,1968.
1
currency belonging to the guild of perfume traders. 3 This incident reflects the importance of

Nigamas in social affairs.

Indian lawgivers like Manu extended recognition to the Sakas, Yavanas, Pahlavas and

Huns as those belonging to the degraded Kshatriya cast. The recognition could not be

extended to those foreign peoples until and unless they Indianised themselves. The process of

their Indianization is amply borne out by their coinage. The bi-scriptural and bi-lingual coins

attributed to the Indo-Greeks, Indo- Scythians, Indo-Parthians and Kushanas indicate how
4
they gradually shifted from Greek to Prakrit language. For instance, the Huns and
5
Kshatrapas adopted Brahmi script and Sanskrit language in their coin legends. By the

adoption of Indian language the foreign rulers intended to show their close affinities with

Indian culture and tried to assimilate themselves in Indian society.

Indianization of foreign rulers significantly coincides with the gradual Indianization of

imported alien iconographic concepts. 6 On the coins of the Greek rulers of Bactria and India

appear a large number of divinities culled from Greek mythology having close affinities with

India’s Puranic concepts. Thus the cult of Artemis (goddess of wild beasts) bears comparison

with that of Indian Mother Goddess with lion- mount (Simha-Vahini) presiding over the

world of animals. Athena (goddess of war) her counterpart in Chandi or Chandika. Demeter

(goddess of fortune) possesses close resemblance with Indian goddess Sri-Lakshmi. Nike

(goddess of victory) is often compared to Indian Gaja-Lakshmi or Abhisheka-Lakshmi, the

bestowed of fortune and victory. Again, the Greek god Zeus the wielder of thunderbolt is

3
Bajpai K.D., Indian Numismatic Studies, see, ‘A Note on the Legend Gandhiknam’, 1976,
New Delhi.
4
Gardner Percy, The Coins of the Greek and Scythic Kings of Bactria and India in the British
Museum, New Delhi, 1971.
5
Sastri A.M., ‘Foreign Elements in Indian Indigenous Coins’, Memoir No. 8, Numismatic
Society of India, Varanasi, 1982, pp.44-52.
6
Chattopadhyay B., Coins and Icons, A Study of Myths and Symbols in Indian Numismatic

Art, Calcutta, 1977.

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usually compared with the Indian god Indra-Vajrapani. Similarly Indian god Vasudeva

Krishna is identified with the Greek god Herakles. Apollo and Helios personifying the two

aspects of Sun-god may be compared to the Vedic gods Savitri and Surya. Poseidon coming

conceptually closer to Varuna god of water. The twin gods Dipscuror may be compared to

Indra’s physician gods Asvini Kumaras.7

The circulation of money rather than its hoardings has to be given more considerations

in order to determine the social status of different classes of ancient India. The epigraphic

records 8 dated from the second century B.C to the fifth century A.D. informs us how a large

quantity of money was invested with the guilds of artisans or merchants and how those guilds

extended support to the religious institutions. The Smrities of Narada and Brihaspati gives us

information to understand that the guilds were involved in the business of money lending on

a fixed rate of interests. The money circulation appears to suggest that the lion’s share of the

country’s wealth was shared between the mercantile and priestly classes. In terms of varnas,

the Kshatriyas representing the ruling class were dependent on the collection of revenue, both

in cash and kind, while the Vaisyas representing the mercantile class hoarded wealth by

making profits in their business of trade and banking and the Brahmans representing the

priestly class, in charge of the religious establishments, became richer on receiving donations

in cash and kind (Pratigraha) from both Kshatriyas and the Vaisyas. It reflects that the

Vaisyas were the dominant class in ancient Indian society as the virtually controls the other

sections of society by their monetary power.

In order to determine the position of the working class we have to consider the wage

structure in terms of cash payment. In Kautilya’s Arthasastra salaries offered to government

servants vary from 48,000 to 60 Panas in different groups from Ritvik, Acharya, Mantri to

7
Jash Pranabananda, Coins and Culture of Early North India, Delhi, 2008.
8
Sircar D.C., Select Inscriptions, Vol. I, Calcutta, 1965.

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the menials. 9 Lawgiver Manu also informs us about the wage structure. According to Manu

unskilled and skilled laborers should get one Pana and six Panas respectively, clothes after

six months and a drone of rice once a month. 10 The inscriptions of Nepal dated 625 A.D.

informs us that the wage of door keepers, street-watchmen and sweepers were approximately

two-thirds of a copper Pana a day. The menial stuff attached to palace and horse and personal

servants were paid from one and half to two Panas a day.11 The available records suggest that

the standard of living of common man was remarkably at a low level.

Now if we turn our attention on the coins bearing the name of queen than we can say

that women occupied a very high position in the society of ancient India. The sovereign

rulers of different dynasties issued coins in the name of the queens. For instance Queen

Naganika wife of king Satkarni is perhaps the earliest women in history of India whose name

was been associated with the king on the coins.12 The silver coins of Satkarni-I and Naganika

issued on the occasion of Asvamedha sacrifice. Besides this the Satvahana kings generally

used the name of their mother as their initials, like Kochiputra Satkarni, Kosikiputra Satkarni,

Goutamiputra Satkarni, Vasisthiputra Satkarni, Pulumavi etc. Kochi, Kosiki, Goutami,

Vasisthi these king mothers were certainly the crowned queens of the dynasty. The Gupta

rulers were also famous for issuing coins with their queen’s name. Such coins were issued by

Chandra Gupta I, Samudra Gupta, Kumargupta I, and Skanda Gupta. Among these coins

Chandra Gupta-Kumardevi type of gold coin has great social and religious significance. 13

Besides these coins of some other coins like Somala Devi of Chahamana dynasty of

Sakambhari, Didda the Hindu queen of Kashmir issued coins in their names.

The coins of ancient India provide valuable information regarding beliefs and practices of the

9
Sen B.C., Economics in Kautailya, Calcutta, 1967.
10
Manusamhiti, VII. 126
11
Nath Pran, A Study in the Economic Condition of Ancient India, London, 1929.
12
Gupta P.L., Coins, New Delhi, 1969.
13
Rath Jayanti, ‘Queens of India’, Orissa Historical Research Journal, Vol. XLVII,
No. 3, 2011.
4
kings and the people in general. The religious inscriptions on the coins, together with the

name of the king reinforced the religious identity of the monarch and of the state. Presence of

name or some time picture of the Gods and Goddess on the coins helps us to determine the

evolution of the religious sects in ancient India. The study of varied types of coins of

different ages exhibits an embodiment of Indian culture in the miniature form. An in-depth

study of the coin symbol from the historical perspective can provide an idea to the solution of

the problem emerging out of the diversity of races or ethnic groups professing divergent

religious faith.14

Many aspects of social history in a monetary society differ from those in a non-

monetized society. In a non-monetizes society land ownership will depend entirely on

physical power or patronage from the king or the state. Labour taxes in a monetized society

can be commuted into cash taxes, which mean that people with money can devote all their

energies to working for their own benefit and generating more cash. New occupations can

develop such as bankers and money changers. Looking at the subject of monetization it is

instructive to consider the Pala-Sena period in Bengal. No coins were issued by the Pala-

Sena rulers, although they must have been fully aware of the concept of coins. 15 It is

probable therefore that coins were intentionally suppressed in order to limit the trading

activity and hence the social mobility of the people. This would have helped the strong

Brahmanical rulers to maintain social stability and hence their political control over their

subject people.

From the above study we can come to this conclusion that numismatic evidence can

be used extensively in reconstructing the social history of ancient India. In view of the

advantages of coins Indian numismatics has been the subject of research by both Indian

and foreign scholars since almost the beginning of the Indological investigations. As a
14
Bhandarkar D.R., Lectures on Ancient Indian Numismatics, Calcutta, 1921.
15
Roy Niharranjan, Bangalir Itihas, (in Bengali), Calcutta, 1949.

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major source of archeological materials coins disapprove the western point of view that

Ancient Indian were devoid of logical history. Ancient Indian coins provide a short of

information to the historians by that they are now reconstructing the contemporary social

vicissitudes and aesthetic sensibilities of the ancient Indian people. So if the historians and

numismatist can work together then the numismatic evidence can be used in the most

effective way of telling of many untold story of ancient Indian society.