What is numismatic?

Numismatics is the scientific analysis and study of money and the way people
have used money throughout history. Additionally, it is also used to refer to the
collection of coins, currency, tokens, paper money, and related objects. When
coin collectors use the word numismatics, though, they generally mean the
study of coins in particular. A wider and more correct definition includes the
study and collecting of all money-related items such as banknotes, tokens,
medals, bullion rounds, etc.

How is coin an important source of study

Coins are one of the most important sources of information from which archaeologists and
historians can try to interpret the past. This is partly because, unlike most other ancient
artefacts, they are often stamped with words and images. It is also because they are hard-
wearing and survive in large numbers.

Golden age of coins Gupta coins

The flourishing state of the economy was ascertained by a large number of gold coins circulated
by different Gupta rulers. Famous for their gold coins, the Gupta numismatic art has an
abundance of coins in the variety of designs. They also issued silver coinsThis abundance of
gold coins from the Gupta era has led some scholars to regard their reign as the ‘rain of
gold’.The Gupta gold coins are known as Dinars and they are the most extraordinary examples
of numismatic and artistic excellence. The coins, in general, depicted the ruling monarch on the
obverse and carried legends while the reverse depicted the figure of a goddess. Gupta coinage
reached the height of metallurgy and iconography.

 
• Standard types • The Archer types • Battle Axe type,  • Lichchavi type: • Kacha type  • The
tiger slayer type  • The Lyrist type • Asvamedha types  • Couch Type• The Chhatra
type • Lion Slayer type • Horse Man Type • Chakarvikrama Type, • Kalasha Type,
• Swordsman Type,  • Peacock or the Kartikeya type: • Pratapa Type • Elephant Rider
Type • King and Lakshmi Type
 
 
 
The decline in the later Gupta Period:

Gupta Period that was once distinguished for its creativity in art, literature and architecture began
to decline during the reign of Skandagupta. This decline is most prominently observed on the
quality of their coins.The Gupta gold coins now began to lose their lustre and were increasingly
struck in base metals with very little gold or silver content. Furthermore, the plethora of artistic
coin designs of the earlier kings soon was reduced to a standard Archer Type coin of the later
rulers. The calligraphy of the legend and the execution of the coin design suffered too.
There was also a general paucity of coinage caused by the declining internal trade and
weakening of a powerful centre. The newly emerging independent and self-sufficient local units
or ‘Shrenis’ too contributed to a sharp decline in the number and purity of later Gupta coins.
Hence it would not be an exaggeration to say that level of excellence of the Gupta numismatic art
declined in the later times.Interestingly, the Post-Gupta coins too became monotonous with slight
or no creative changes at all.

Coins of Muhamad bin Tughlaq

He understood the importance of currency as a medium of commercial exchange

and that is why he took keen interest to circulate gold and silver coins. The gold
coin was introduced as Dinar. Tughlaq’s silver coin was named Adl.  However, it
was difficult to maintain the supply of gold and silver coins on a large scale. So,
Tughlaq replaced those coins and started the circulation of copper and brass coins
as the token currency which had the same value of gold or silver coins in 1330-32
CE. He was well aware that the state had to act as a responsible guarantor for the
token money by ensuring high degree of security which will prevent others from
making fake currencies.

But the administrators failed in maintaining the security measures. These coins
totally lacked the artistic design and perfection in finishing and even the
administrators of the king took no measure to keep the design secured and
protected.  In fact, the coins just had some inscriptions and no royal seals. These
loopholes make them easier to copy. Thus, ordinary people easily copied the
design and started making coins in their house. Soon the entire market was
flooding with the fake coins. The ordinary people started to pay the state revenue
with their home made coins and this caused a great problem for the state treasury.
Within a very short period of time the state treasury was full of fake coins.

As a result, the trade and commercial activities were heavily disrupted.

Muhammad Bin Tughlaq was forced to take back all the token currency. He had to
exchange them with old gold or silver coins. Thousands of people exchanged their
copper coins with silver tankas or gold dinars and the state treasury faced a huge
loss. However, the detected forged coins were not exchanged. In 1333 CE, the use
of the token coins was stopped. Ibn Batuta, the famous medieval traveler who
came to Delhi in 1334 CE wrote an account of contemporary India which had no
mention of these token currencies.
 
Coins of republic of india
 India became independent on 15 August 1947 and was left with a legacy of non-decimal
coinage. One rupee was divided into 16 annas or 64 pice, with each anna therefore
equal to 4 pice. In 1957, India shifted to the decimal system, but for a short period both
decimal and non-decimal coins were in circulation. To distinguish between the two pice,
the coins minted between 1957 and 1964 have the legend “Naya Paisa” (“new” paisa).
The denominations in circulation were 1, 2, 5, 10, 20, 25, 50 (naya) paise and one rupee
which remained as the same pre-decimal value. Therefore pre-decimal coins of one, half
and quarter rupees could remain in circulation after decimalization.
The word “naya” was dropped in 1964. In this year a new denomination, the 3 paise,
was introduced and in 1968 a 20 paise coin was minted. Both these coins however did
not gain much popularity. The 1, 2 and 3 paise coins were phased out gradually in the
1970s.
In 1982 a new coin, 2 rupees, was introduced as an experiment to replace 2 rupee
notes. The 2 rupee coin was not minted again till 1990, after which it was minted every
year.
Stainless steel coinage of 10, 25 and 50 paise, was introduced in 1988 and in 1992, a
new rupee coin was minted. This coin was smaller and lighter than the older rupee and
was also made of stainless steel. In 1992, a 5 Rupees Cupronickel coin was introduced.
In 2006, 10 Rupees coin was minted for the first time. The higher denomination coins
were introduced due to increasing demand for change and increasing cost of printing 2,
5 and 10 rupees banknotes.
India issues several types of coins. Some special coins are minted in memory of special
events or people and these are referred to as commemorative coins. Commemorative
coins can be for collectors and also for general circulation. They can be found in various
denominations. Some commemorative coins include coins depicting Mahatma Gandhi,
Jawaharlal Nehru, Indira Gandhi, B. R. Ambedkar, Rajiv Gandhi, Dnyaneshwar, 1982-
Asian Games, Sardar Vallabhbhai Patel, Subhash Chandra Bose, Sri Aurobindo,
Chittaranjan Das, and Chhatrapati Shivaji.

Feautures of coins
Coins are round mostly but ther are some unique shapes.some coins have holes.Ancient coins
are mostly of gold,silver while modern day coins are steel.Old Indian coins had
gods,goddesses,religious sayings whereas coins of new day secular india has patterns
owheat,flowers showcasing prosperity and economic dependence on farmers.

Bibliography
The spruce crafts
British museum
www.mintageworld.com
coincompetion.eu
http://www.republiccoinsofindia.com/