CHAPTER - VI

INFORMATION ABOUT COINS IN ARTHASMTRAANDBAUDDHA JAINA

LITERATURE

Arthasastra Bauddha literature Jaina literature

175

Arthasastra

Kautilya's Arthasastra (Artha) is a great treaties on ancient

Indian History and Polity. Kautilya lived about 4* century B.C.

The Artha gives an account of the manufacture of metals, of different

coins and of the manufacture of coins in the 4th century B.C. It also

mentions the counterfeiters of coins, viz., kutarupakaraka. The

superintendent of metals (lohadhyaksah) carried out the manufacture

of copper, lead, tin, vaikrntaka (mercury), arakuta (brass), vrtta,

kamsa (bronze or bell-metal), tala (arsenic), and lodhra and also

commodities from them'. The duties of Laksanadhyaksa or

Rupyadhyaksa are laid down thus :

qr^TsM ? T r a ^ nmchH^HN* chicbyJlH^chichyDi*^Jri 11 ^

The Laksanadhyaksa shall manufacture silver coins

(rupyarupa), such aspana, half pana, quarter pa/ia and one eighth

1. Kautilya, Arthasastra, II Adhikarana, Ch. 12. 2. /6/d, II Adhikarana, Ch.l9. 3. Ibid., II. 12.24.

176

pana consisting of a part of copper and one sixteenth part of masa or

any one of the metals, tiksana, trapu, sisa and anjana and shall

manufacture copper coin (tamrarupa) such as masaka, halfmasaka,

kakini and half kakini with four parts of alloy. In the manufacture of

coins under the supervision of the Laksanadhyaksa or Riipyadhyaksa,

metal was first melted in musa (crucibles) and cleaned and purified

with ksara (alkalis), then the metal was beaten into sheets on an

adhikarani (anvil) with the mustika (hammer) and then cut into

pieces with sandamsa (clippers) and finally they were stamped with

dies or punches having symbols (bimbatanka). In this way coins

were manufactured. The coins were round, oval and elliptical in

shape.

In the chapter dealing with the duties of the mint-master, the

facts about the system of currency are given:

MKM"ll rWPiy l Oil(icbHI ^TT^I ^ HIMcbl: ITSTFT I ^\^m:

fpFT I fe^T^n^ HH^ M f il MUII: Mi l* HHI I i^\^^ f RFTT 11

10 seeds of masa or 5 seeds of gunja = 1 suvarna masa

16 suvama masas = 1 suvarna or karsa • • • •

4karsas = Ipala

7. Ibid., 11.19.36-39. " ~ ~ "

177

88 mustard seeds (white) = 1 silver masa

16 silver/nasas or 20 saibya seeds = 1 dharana

The Laksanadhyaksa was to issue coins on behalf of the king.

The Rupadarsaka or the examiner of coins was to examine the

acceptability of coins. For the term Rupadarsakam, Pataiijali uses

the term Rupatarka. In the above passage Kautilya mentions

different names of coins. As Panini has also mentioned the names

of these coins 2iS,pana,pada, masa, etc., it follows that this system

of currency was current during the time of Panini and continued to

be so during the reign of Chandragupta, till it was replaced by dinara

and its subdivisions some time before Patanjali.

In the Artha the general term for coin is rupa from which the

modem name 'rupya' (in English 'rupee') is evidently derived. In

the above passage the duties of Laksanadhyaksa, the silver and

copper coins are called rupya - rupa and tamra respectively. Then

Tupya and tamra meant silver and copper respectively and the term

rupa was used in the sense of a coin.

The Laksanadhyaksa'sjob was the minting of the coins. Then

it was sent to the Rupadarsaka to establish it as a currency after

realising various charges. It is stated that the sannidata or treasurer

recieved only such coins or hiranya (money), which were declared

178

genuine (visuddha) by the Rupadarsaka. The Rupadarsaka should

cut the asuddha (bad) coins.

It was his duty to establish currency not only for the purpose

of trade and commerce (vyavaharika) and but also for reciepts in

the treasury (kosapravesya). Here scholars like Kangle think that

there were two kinds of established currency; (panayatra). One for

trade purposes and the other for payments or reciepts in the treasury .

He also says that copper coins were used for trade and silver coins

came into the treasury.

Kautilya shows Riipadarsaka liable to punishment if he upsets

an established currency, i.e., sthita-panayatra or to allow an irregular

currency to circulate. The coin used in currency (panayatra) were

valid at vyaji. This indicates that currencies other than the official

ones were prevalent. There was also provision for the big merchants

or merchant guilds to get their coins with their own marks stamped

elsewhere than at the royal mint. There, the merchant were making

payment in karas, each kara being equal to ten panas. Kara was a

monetary unit. Kautilya refers to the payment of karas thus:

5! Ibid., II. 5.10-11. 6. Kangle, The Kautilya''sArthasastra, Fart. III.p.181.

179

^c^ui<vJ^dc|^J^Hf^l^Tt)lyc|H|^^i^^Ui||: q o ^ ^ l r t R T :

%IM<^dl6M"i | | : § |cbdci | |c |^ |Ru|§^ ft§1r^J7TT|

ch|r|ci|c|^|Ru|l H^|chKc|§^ i^$|[rlcb^|: I

The merchants dealing in gold, silver diamonds, precious-

stones, pearls, coral, horses, and elephants were to pay fifty karas.

Those that trade in cotton threads, cloths, copper, brass, bronze,

sandal, medicins, and liquor had to pay fourty karas. The trader in

grains, liquids, metals and he who deal with cart were to pay thirty

karas. Those that carried on their trade in glass (kaca) and also the

artisans of fine workmanship, as well as those who kept prostitutes

were to pay ten karas. Those that traded in fire wood, bamboos,

stones, earthen pots, cooked rice, and vegetables had to pay five

karas. Dramatist and prostitutes were to pay half their wagesl

All other forms of fines levied and payment made were in

terms oipanas. When the Superintendent of jails puts any person in

7. Artha, V.2.20-26. 8. Satya Prakash & Rajendra Singh, op.cit., pp.274-275.

180

lock-up without declaring the grounds of provocation (samruddha

kamanakhyaya), he shall be fined twenty four panas. When he

subjects any person to unjust torture the fine is fourty eight panas.

When he transfers a prisoner to another place, or deprives a prisoner

of food and water, he is fined ninety six pa/ias. When he troubles

or recieves bribes from a prisoner, he shall be punished with the

middle- most amercement. When he beats a prisoner, he shall be

fined thousand panas.

^^HMIKI^TSTFT H^wT^FFHPsJM ^Kild^'cl^^-lfrr W\[ ^ ^ ^

ch4cbHi|dl fe^l

Fractional denominations of a pana :

Those who seize from manufacterers or from the king's granary

articles of 1/16 to 1/4 of a pana in value shall be fined twelve panas;

9. Artfia, IV.9.49-53. 10. Ibid., IV.9.4-6.

181

articles of 1/4 to 1/2 apana in value, twenty four panas; articles

of 1/2 to 3/4 of apa/ja in value, thirty six panas and articles of 3/4

to one pana in value, fourty eight panas. Roadcess and levies were

to be paid in pa/jas:

The officer-in-charge of boundaries (antapala) shall recieve

a pana and a quarter as roadcess (vartani) on each load of

merchandise (panya-vahanasya). He shall levy Sipana on a single

hoofed animal, half & pana on each head of cattle, and a quarter on a

minor quadruped. Interests on loans are paid in panas:

An interest of a pana and a quarter percent per month is just.

Five panas percent per month is commercial interest iyyavahariki).

Ten panas percent per month prevails among sea traders

{samudranam).

11. /&/</., 11.21.28-29.

12. /Wd., III. 11.1-4.

182

Ransom to be paid in panas:

HIch ' lH Mo Mf lcb I Mci MHI ftw4 URT I I

He who proves his title to a lost or stolen biped, shall pay

five panas towards ransom (before taking possession of it). Like

wise the ransom for a single-hoofed animal shall be foxxrpanas; for

a cow or buffalo, two panas; for minor quadrupeds, 1/4 of apana and

for articles such as precious stones, superior or inferior raw

materials, 5% of their value.

l cbl- cbRll rHcbl ciHchcl cbill i|lPmlt|cbl§^ [ Hl l: I I

^T^qcRTT Mlcildl: ^'te4|i|cb^te|cblRc|jf: qo^T^M: I

^ § i ] c H c | | ^ 4 ?Jcft §T?TT: I I

cbl<)i5li^Hl ft§"rfrr§lir|cbl: I I "

The sacrificial priest (rtving), the teacher, the minister, the

priest (purohita), the commander of the army, the heir-apparent

13. /6yd., III. 16.24-25. 14. /fad., v. 3.4-18.

183

prince, the mother of the king, and the queen shall each receive

fourty eight thousand (panas per annum). The door keeper, the

superintendent of the harem {antarvamsika), the commander

(prasastf), the collector- general and the chamberiian, twenty four

thousand. The chariot driver, the physician of the army, the trainer

of horses, the carpenter (vardhaki) and those who rear animals

(joniposaka), two thousand. Trained soldiers, the staff of

accountants and writers five hundred. Musicians (kusilava), two

hundred and fifty of these the trumpet blowers (turyakara) shall get

twice as much wages as others. Artisans and carpenters hundred

and tv/enty panas.

Then the Riipadarsakas were perhaps equipped with a supply

of various denominations of silver and copper coins having already

two symbols punched on them by the Laksanadhyaksa of the

province or region. For the coins to be used by the public for trade

and for reciepts in the treasury, the rule was that they were to be

punched with three symbols as a certificate of clearance by the

ROpadarsaka after charging the state taxes on these coins'^ Thus

the duties of the Rupadarsaka were : (i) to establish the currency

15. S.R. Goyal, The Kautilya's Arthasastra, p.90.

184

after the Laksanadhyaksa had minted the coins of specific purity

and denomination in copper and silver (ii) to accept or reject a

currency after examining it and (iii) to establish a currency or

panayatra after charging certain taxes.

5R"§m"ll<iu : I TFifr qf 9I«ft M"|ilNI I M"ll-H|t|cb*iqvjil -

cRTt Sl^§"mt ^^i^ I ^ #rTt oLIIteiJIdH I ^<i McbKi|d:

MR i ldl P|i|fMi|dl ciT ^mi ^^^, ^§^ qflrot cT^ I r^

S.R. Goyal has quoted the view of T.P. Verma' and suggestes

that the six-armed symbol found on the punch-marked coins was

probably the symbol of the mint master. Variations in the symbols

were probably due to the establishment of many mints at various

head-quarters of the provinces. He further says that the Rupadarsaka

punches the symbol in order to certify that the money has been

duly examined by him. This suggestion has not been accepted by

scholars like P.L. Gupta.

Pana, ardha-pana, pada and asta bhaga, are the four

denominations of silver coins which were manufactured in the state

16. Artha, IV. 1.44-48. 17. S.R. Goyal, op.cit., p.92.

185

mint. Pana, also calledpafl/iira, is frequently mentioned by Kautilya

while prescribing fines, pay, rewards and taxes. Ardhapana is also

called ardhapanika, the half of the pana coin. Of this coin only a

few references are given in the Artha. Pada is also called a coin

amongst the coins of smaller denominations. It is mentioned

independantly as well as with other figures. Where half pa/ia was

intended, the term dvipada, i.e., two pada (quarter) is alternatively

used, tripada for the three quarters of apa/ia. Ardhapadika is also

mentioned. Astabhaga or one eighth pana is however mentioned

only thrice in the Artha. It is mentioned at another place as

ardhapadika.

The word suvarna is used in different places of this book,

especially in the second adhikaranas. But the terms like niska and

satamana are not used in the Arlha. Some scholars (like P.L. Gupta)

believe that this because in the period of Kautilya gold coins were

not minted. But scholars like V.S. Agrawala, A.S. Altekar and

Shamasastri are of the view that gold coins were current in the age

of Kautilya. Kautilya refers to the fact that the state goldsmith

employed artisans to manufacture the gold and silver coins, i.e..

186

rupya suvarna or ornaments from the citizens and country people.

See the following passage :

PiRt chWcbi4 w ^ f ^ oif^rff^s^M cbiiifq^^wl

cbHllrlMlclH MIci^H #rR d<ife'pi$^ ^ ^ ^ I I

The goldsmiths of the mint shall complete the work within

the stipulated time. If the work is delayed indefinitely, they would

lose the salary and should give double the fine. If the time is

transgressed they would lose 3/4 of the salary and should give double

the fine. The gold smith of the mint shall return to the owner, coins

or ornaments of the same weight and of the same quality as those

of the bullion (niksepa) which they recieved at the mint. With the

exception of those coins which have been worn out or which have

undergone diminution iksinaparisirna), they shall recieve the same

coins back into the mint even after the lapse of a number of years.'^

18. ArtAa, II. 14.1-6. 19. Satyaprakash & Rajendra Singh, op.ciL p.280.

187

The state goldsmith shall gather from the artisans employed

in the mint infonnation concerning pure gold metallic mass (pudgala)

coins (laksana) and the rate of exchange (prayoga).

The following passage can be taken into account:

^§ i f ^ f f ^ gcnifg^Tra?r§Fmt% dTiv^i4)iiid 11

^t^^ cbicb"il^ui[^ipil TPmsl MdWHi ^^jm: ^^m 11

^ § ^ ft§7?fi ^^^ M lT ciH ciT I I °

In getting the suvarna coin of sixteen masas manufactured

from gold or from, silver one kakini (i.e. 1/4 masa) weight of the

metal more shall be given to the niint towards the loss in

manufacture. When the varna or quality of a coin less than the

standard of a masa is lowered, the artisans concerned shall be

punished with first amercement. Deception in the exchange of

20. Artfta, II. 14.7-14.

188

manufactured coins {krtabhandopadhau) shall also be punished with

the highest amercement.

Those who manufacture gold or silver coins in any place other

than the mint or without being noticed by the state goldsmith are

liable to be fined twelvepa/zas, while the artisans who do that work

are, if found out, punished with twice the above fine. Such a worker

is fined two hundred panas or subjected to the punishment in the

form of cutting off his fingers.

The Riipadarsaka is liable to punishment if he does anything

wrong. He is to be punished if he declared an unacceptable coin to

be worthy of currency or rejected an acceptable coin. Again Kautilya

mentioned a fine of twelve panas for a Rupadarsaka who recieved

a bribe of one masaka for certifying one underservingpafla:

The next reference of the coins is in connection with the

stealing of gold by triputaka and apasarana:

W7FT st WTT^ §I R Bl idcbH I I ( Hlcb lc Jld -

HMfll4r) rT?T B|ii<icbm |RdH I I § F ^ ic lM lRdH I I

21. Ibid., IV. 1.46.

189

The term tnputaka consists of two parts of silver and one

part of copper. When an equal portion of pure alluvial gold is

replaced by copper that deceitful act is called copper removal

{triputakavasaritam). When by copper, an equal portion of gold is

replaced, it is called copper removal (sulbavasaritam). When by

vellaka (which is a compound of tiksna and silver in equal

proportions), an equal portion of gold is replaced, it is tenned vellaka

- removal (vellakapasaritam), and when pure alluvial gold is

replaced by gold mixed with copper, it is termed gold - removal

{hemavasaritam). A crucible with a base metallic pieces hidden in

its metallic excrement, pincers; a pair of tongs, metallic piece

(jongani) and borax {sauvarcika lavanam) - are the several things

made use by goldsmiths in stealing gold.

Stealing of Gold by Visravana:

Visravana is the act of intentionally bussting the crucible

containing the bullion to pick up, a few sand-like particles of metal

along with other particles of a base metal previously put there in,

22. Tft/d, 11.14.21-27.

190

and the whole is wrought into a mass for the intented coin or

ornament, or by examining the folded or inlaid leaves of an ornament

(acitakapatrapariksayam), deception is perpetrated by substituting

silver for gold, or when particles of a base metal are substituted for

those of gold. Kautilya gives the outlines on the weights and

measures and the units of space and time in the second adhikarana.

The unit of weights apply not only to weighing in general but also

to coinage also.

The superintendent of weights and measures shall have the

same manufactured:

"^ ^ ^m I I ^T^^ffirf MI^^^MI: ^^^HIM*: I I

Ardha-masaka, one masaka, two masakas, eight masakas, one

suvarna two suvamas, foursuvarnas, eight suvarnas, ten suvarnas,

twenty suvarnas, thirty suvarnas, fourty suvarnas, and one hundred

suvarnas are different unit of weights, he says:

23. Ibid., II.19.1-8.

191

In similar lines the weights in dharanas should also be made:

Kautilya shows nine kinds of incomes derived from mines;

the output mines mulya, a share of the output of mines privately

owned vibhaga the premium of 5% vyadhi, the testing charges of

coins (parigha), tolls (sulka), fines; anyaya, compensation for losses

entainled on the kings commerce vaidharana, fines according to

the gravity of the ofence danda, coinage charges n7pa and premium

of 8% rupika.

These references give the knowledge that at the time of

Kautilya the system of coinage was in vogue. Regular trade carried

out on coined money, salaries in the medium of pana, and fines etc.

existed there.

24. Ibid., II. 19.9. 25. Ibid, 11.19.10. 26. Ibid, 11.12.35.

192

Bauddha Literature

The references of different types of coins are found in the

Bauddha and Jaina literautres. The Jatakas (Jat) or Buddha's birth

stories of the 6''' or 7* century B.C. are the important sources to

know about the conditions before the origin of Buddhism. ^ The

Jat tales refer to different classes of coins which were current in

India at the early period. The following instances can be seen :

The Kuhaka Jataka refers to a farmer bringing his hundred

niskas of gold to an ascetic. According to the story an ascetic went

to a village and lived in a hermitage built by a local kutumbika or

farmer. Taking the ascetic to be a model of goodness, the farmer

brought his hundred niskas of gold to the hermitage and buried

them, there requesting the ascetic to keep watch over them. The

farmer went away, but the ascetic secretly removed the gold coins

and buried them in the way side. The next day the seer took leave of

the farmer, but returned shortly after to return a straw that had

struck in his matted hair from the farmer's roof which he believed

did not belong to him.

27. Rhys Davids, Buddhist India, pp.207-208.

193

This over manifestation of moral sensitiveness aroused the

suspicion of a shrewed trader who had halted on the outskirts of the

village. He forth with met the farmer and warned him. They hastened

in hot pursuit, caught the rascal and kicked and cuffed him till he

showed to them where he hid the gold coins. The trader was no

other than a Bodhisattva. He said to the ascetic: "so a hundred

niskas did not trouble your conscience so much as that straw"^^

Here a specific class of coins, i.e., gold coins called niska are

mentioned.

The Vessantara Jataka mentions a thousand niskas as the

amount for the redemption of Vessantara's son (VI.546). In this

Jat, the king Sivi (Sibi in Bhandarkar), before returing to the forest

gave away his son and daughter to a Brahmana called Jiijaka. Then

he said to his son :

"Oh! son, Jali, if you wish to become free, you must pay the

Brahmana a thousand niskas. Your sister is very beautiful. If any

person of low birth gives the Brahmana so much money to make

her free, he would break her birth right. None, but a king can give

all things by the hundred; therefore, if your sister would be free, let

28. E.B. CoweU, The Jataka Stories of the Buddhas Former Briths, Vols.I-II, 1.375, pp.218-219.

194

her pay the Brahmana a hundred male and female slaves together

with elephants, horses, bulls, and niskas, all a hundred each . It is

another reference to niskas as coins.

It is a mistake to suppose that niskas were the only class of

gold coins known to the Jat literature. We also find instances where

hiranya and suvarna are associated together. Thus, the Bhuridatta

Jataka gives us another tale of a snake-king tamed by a snake-

charmer who amassed a fortune by making him assume various

appearances and exhibit his ability to dance. At his very first

performance in a village, the people were so pleased that they heaped

on him hiranya, suvarna, vastra, alamkara and the like. Of course,

vastra and alamkara mean 'garments' and 'ornaments' respectively.

But what about hiranya and suvarna. Both signify 'gold' and

consequently one of these words is superfluous. On the other hand,

suvarna denotes a specific kind of gold coins, which the other word,

viz., hiranya, does not. It is true that suvarna denotes a certain

weight as well as a gold coin of this weight, and it is possible that

in this particular Jat story, the word suvarna means merely gold

bullion of this weight. But according to this supposition, suvarna,

like the other word, viz., hiranya, would signify gold only, and as a 29! Ibid., Vols. V-VI. p.247.

195

result there is virtually no distinction between the two. We are

therefore compelled to infer that suvama in this as in other instances

where it is associated with hiranya must stand not for 'gold' but a

'type of gold coin'.

D.R. Bhandarkar traces two references to the type of coin

called suvarna masaka in the Jat stories. The Udaya Jataka and

Samkhapala Jataka mention the suvarna masaka. In the Udaya

Jataka we are introduced to Udayabhadra and Udayabhadra, brother

and sister, who became husband and wife. They were the king and

queen of the Kasi kingdom. Udayabhadra died, and became Sakra

in the Heaven. He came to the mortal world one day to tempt his

former wife with riches. He praised her beauty lavishly and held

before her a golden dish filled with suvarna masakas.

In the Samkhapala Jataka, a snake king was captured by a

party of sixteen men. A rich land owner, who happened to pass that

way, saw the Bodhisattva in great agony, and struck with

compassion, released him by making handsome gifts to those lewd

fellows amongst which prominent mention is made of the suvarna

masakas. The suvarna masaka is a gold coin which is equal to one

196

masa in weight according to the standard of gold coinage. Masa is

a unit in the weight system of Indian coinage which differs in weight

depending on whether the coin is gold, silver or copper. Thus, in

the 6'" - 7* century B.C., in ancient India, three types of gold coins

were current:- niska, suvarna and suvarna masaka.

Another type of coin called karsapana, is referred to in

different places in the Jat literature. For instances: The Gamani -

Chanda Jataka tells about a king of Benares noted for his wisdom

and impartiality. One day as he was in the judgement hall, two

cases came up for deliberation in which one and the same individual

named Gamani, Chanda, was charged with the guilts of having

failed to return a pair of oxen which were stolen by thieves and of

having caused a grievous hurt to a horse's leg. The king decided

that Chanda should pay the price of each animal to its owner. The

price of the pair of oxen was fixed at twenty four karsapanas and

that of the horse one thousand karsapanas^^.

Another Jat tells a story of a landed proprieter, who lost his

parcel worth a thousand karsapanas which fell into the river while

he was crossing it. The parcel was, however, swallowed by a big

30. Ibid., 11.305,19; 306,19-20.

197

fish which was caught by a fisherman, and was sold for seven

masakas to the same landed proprieter who later became overjoyed

by the recovery of his money as his wife was dressing the fish.

These too must be silver karsapanas as the seven masakas

mentioned here were the price of the fish could be a copper token

of silver money only '.

It is mentioned in Jat that a professional was paid eight

karsapanas as his fee and a nice plump dog was bought for one

karsapana.

The Gangamala Jataka mentions big amounts of a hundred,

thousand and fifty thousand pieces where by implication, they meant

the karsapanas. The Jat refers to the name of the coin as kahapana,

i.e., karsapana.

The sub divisions of karsapana are mentioned in the

Mahasupina Jatakas. They are karsapana, half - karsapana,

one-fourth karsapana, one-eighth-Ji:areapa/?a, four masaka, three

masaka, two masaka, half - masaka, one - kakini, and half - kakini l

The /af mentions four masaka pieces as of lower value than apada.

31. Ibid., 11.424. 19.20. 32. Ibid., 1.340.30; III.448.14.15.

198

The Mabasupina Jataka mentions addha and pada as current

coin names coming aficrkarsapana: kahapanaddha -pada - masa -

rupadini. The Jatakas appear to be silent about one - eighth

kahapana. In the Addhamasaka Jataka, the addha-masaka is

mentioned as a copper coin.

The CuUasetsi Jataka mentions the coin by name kakani. For

instances: one kakani was the price of a dead mouse and the Salittaka

Jataka refers to village boys giving SLkakani coin to a cripple saying:

'make an elephant' or 'make a horse'.

In the Jat literature especially in Mahasupina Jataka, the word

rupa sometimes is used in the sense of a coin.

The famous Buddhist author and commentator in Pali

Buddhagosa, gives the sufficient information about ancient Indian

coinage. In the Patimokha there is a regulation that the monks

should not acceptjatarUpa or gold and rajata or silver. The jatarUpa

has been explained in the Suttavibhanga section of the Vinayapitaka

as well as in Buddhagosa's Kankbavitarani (Commentary on the

Patimokha) and Samantapasadika (Commentary on the Vinaya

pitaka) in the following words:

199

i. jatarupam nama satthuvanno vuchchati. Rajatam nama

kahapano lohamasako darumasako jatumasako ye voharam

gacchanti (Suttavibhanga;) Here 'gold' has been taken merely in

the sense of a metal, while 'silver' has been taken to mean coins

such as the karsapana, and the masaka of lauha (generally meaning

'iron') wood and lac^^

ii. jatarupa rajatanti suvannanceva rupiyanca. api ca

kahapana lohamasaka darumasaka jatumasakadayopi ye voharam

gacchanti sabbe te idha rajatanteva vutta (Kahkhavitarani)^.

This passage explains gold and silver as metals, but at the

same time, points out that the latter here include whatever that is

used as money, e.g., the karsapana of silver, the masaka of lauha,

wood and lac and similar other coins.

These two passages suggest that: (i) there were no coins of

gold (ii) that the karsapana was made of silver only (iii) that the

masaka was made of lauha, wood, lac, etc, but not of silver,

(iv) that the masakas were so called probably not because they

were one masaka in weight, but because they were one-sixteenth of

value of the standard silver coin called/ra/sapa/ia. The lauha masaita

33. D.C. Sircar, opxit., p.92. 34. Ibid.,

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furnished by the Samantapasadika has been explained as the masaka

made of tamra (copper), lauha and other metals. The word loha or

lauha means iron, copper, brass or any other metal and the expression

lauha and other has been apparently used in the sense of any cheap

metal other than copper which is separately mentioned. ^

iii. jatarupa rajati, Jatarupam nama suvannassa namain ...

kahapano ti sovannamayo va rupiyamayo va pakatiko va.

lohamasako ti tamba lohadihi katamasako. Darumasako ti • • •

saradaruna va velupesikaya va antamaso talapannena pi rUpam

chinditva katamasako. jatumasakotilakhaya vaniyyasena varupam

samuttapetva katamasako (Samantapasadika)^^.

This is quoted from Samantapasadika. It explains gold as

metal; it speaks of three different kinds of karsapana, viz.,(i) gold

karsapana (ii) SiAsQi karsapana (iii) Ordmaiy karsapana. This shows

thatkarsapana of both gold and copper were also known. The gold

karsapana might have been ignored by Buddhaghosa in his

Kankhavitarani ".

As sixteen panas were considered equal in value to kahana

(i.e. kahavana, kahapana, karsapana) down to quite recent times, 35. Rdshaiam, Ancient Indian Coinage, p. 162. 36. D.C. Sircar, op.cit., p.92. 37. Ibid., p.93.

201

the suggestion suits well to the copper masaka of Buddhaghosa

which is regarded as a copper pana or karsapana of eighty rattis

(146.4. grains). The copper/nasaira mentioned in the list of masakas

and the copper karsapana put in that of the karsapanas in the

Samantapasadika appear to have been the same coin, or at least

similar coins, put under different heads. The weight of the masakas

of cheap metals like copper, iron, brass, lead, etc., was determind

by their intrinsic value, depending on the current market prices of

the metals, as one sixteenth of the standard silver coin. It also

explains the impossibility of classifying the punch-marked coins

discovered in different parts of India according to any difinite weight

standard. There the great diversity in the weight standard of the

ancient Indian coins seems also be the fact that the basic masaka

weight was not the same in different localities and periods even in

regard to the same metal.

Buddhaghosa's Samantapasadika explains the wooden

masaka as those made of strong wood and of bits of bamboo and

includes in this catagory even the masaka that was made by cutting

in a figure on piece of palmyra leaf. Apparently the palmyra leaf

masaka could hardly have been one sixteenth of either the silver or

202

even the copper irarsapa/ia. They appear to have been of the nature

of the modem currency notes. The same appears to have been the

case with the lac masaka explained as those made by producing a

figure on a quantity of lac or gum. It is tempting to suggest that the

metallic tnasakas were regarded as one sixteenth of the standard of

silver coin, while the non-metallic tnasakas stood in the same relation

to the standard coins of cheap metals like copper. Althogh there is

evidence to show that metallic coins weighing one-sixteenth of the

standard money of silver and other metals were also not unknown,

they were probably not common everywhere.

Buddhaghosa's Visuddhimagga gives some references on

coins. It describes how a lot of coins lying on a wooden slab would

strike differently to the different persons like as inexperienced boy,

a man from the village and a shroff or money-changer. The boy

would notice simply that some coins are oblong, some round and

some elongated in shape. The rustic would know all this and would

also assess that coins were like gems, worthy objects of enjoyment

to mankind. The shroff, on the otherhand, not only would be

conversant with all this but also would be in a position to decide

after handling the coins in a variety of ways as to which of them

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were struck, at which village, mufassil town, capital city, mountain

and river bank and also by what mint master.

He points out that every place which issued coinage in ancient

India had its own distinguishing mark or marks stamped on it, by

observing which the shroff of that age could at once tell from which

place any particular coin came.

Bhandarkar says that Buddhaghosa's commentary on the

Mahavagga, about a man who had to learn the Rupasutra (i.e., a set

of rules concerning figures on the coins, or concerning coins) used

to turn many karsapanas over and over and look at them. He further

refers to Buddhaghosa's statement that there were other kinds of

money which were current in different parts of the country, although

they were not mentioned by him, and that they were of bone or skin

or the fruits or seeds of trees and might be with or without any riipa

or figure stamped on them^^

C D . Chatterjee points out that the passage from the

Samantapasadika together with those from the commentaries of

Sariputra and Buddhanaga yield the names of the following coins:

(i) Rudradamaka (ii) Rudradamakadi (iii) Nilakarsapana

38. Bhandarkar, op.cit, pp. 140-141.

204

(iv) Pada of the Nila - karsapana, and (v) Masaka of the Nila-

karsapana.He translates the passage of Samantapasadika thus: "At

that time dXRajagaha (Rajagrha), one kahapana was equal to twenty

masakas; therefore one pada was equal to five masakas. By this

standard it is to be understood that, in all the provinces, the quarter

of the kahapana is a.pada. But this is in respect of the ancient M/a-

kahapana and not of the latter-day Rudradamaka coins and those

which have been modelled after it" . The silver coins of the Sakas

of Western Indians were in circulation atleast as late as the 5^^ century

A.D. They were known by the name of Rudradamaka. The whole

class of the Saka silver coins was known as Rudradamaka after the

greatest and most famous of the Saka rulers of Western India, viz.,

Rudradaman.

The Buddhaghosa and his commentators speak of the whole

class of the Saka silver coins at Rudradamaka after the greatest and

the most famous of the Saka rulers of the Western India, viz.,

Rudradaman I(C. 130-55. A.D). Chatterjee's suggestion about

different classes of similar coins, called Rudradamakadi, is entirely

imaginery. The class seems also to include non-saka silver coins of " " ' • ^ ' • " _ . . ^ • • . - . . . . ^ M i l

39. CD. Chatterjee, Some Numismatic Data in Pali Literature, ch.XV.pp.283-452; quoted by D.C.Sircar. op.c/Y., p.97; See also Rekha Jain, op.cit. p.l6l.

205 • _ _

about the same weight standard such as those of the Satavahanas

and the Guptas.

The Saratthadipani says, pada should indicate the fourth of

the old karsapana and not of the new Rudradamaka karsapana,

that the value of a Rudradamaka was only three-fourths of a

Nila - karsapana. The old karsapanas were made in accordance

with the Puranic Sastra by impressing symbols on them and that

they resembled the blue karsapanas. Rekha Jain opines that this

show that the punch-marked coins were manufactured as late as the

5* century apparently private issues.'"' Buddhaghosa applies the

epithetpurana to the Nila-karsapana. While his conmientators says

that this coin was what was manufactured with special marks

according to the specifications of ancient treatises (such as the

Rupasutra mentioned in Buddhaghosa's commentary on the

Mahavagga). The Nila-karsapana was no doubt the silver

karsapana called purana (a term actually used in the description

of the coin by Buddhaghosa) oxdharana and weighing 58.56 grains.

The theoretical weight of the Rudradamaka or Saka style karsapana

was about 40 grains or slightly more, it was actually three-fourths 40. Rakha Jain, opxiL, p. 161.

206

of the purana or old silver karsapana in weight and value. This

passage makes clear that both old - fashioned and new style

karsapanas were in use side by side and that the manufacture of the

old fashioned karsapanas was going on. The Vinayatthamanjusa

actually speaks of the manufacture of karsapanas resembling the

Nila-karsapana.

The later commentators bring out the differencesbetween the

old type blue karsapana and the new karsapana called Rudradamaka

by stating that the latter was 3/4 of the former in value. According

to one commentator, the old type blue karsapana was made by

stamping symbols on them in accordance with the Paurana-Sastra,

i.e., a book dealing with the purana coin such as the Rupasutra^^

(poranasatth anurupalakkhana sampannassa uppadita). Another

commentator says that the old type karsapanas were made in

accordance with ihtPaurana- Sastra by impressing symbols on them

and that they resembled with the blue karsapana. These passages

show that the punch-marked coins were manufactured as late as the

5"" century, long after the other type of coins, sometimes bearing

41. Bhandarkar, op.cit, p. 126. According to Buddhaghosa, while learning the Rupasutra, one had to turn over and over many karsapanas and look at them; quoted by D.C. Sircar., op.cit., p. 104.

207

names of kings who issued them, appeared in the field. There is a

little doubt that the old-type karsapanas are the same coins as

mentioned in the Visuddhimagga apparently as private issues. The

Satavahana kings issued coins of their usual types only in cheap

metals like copper, lead, and potin, but at the same time, also the

punch-marked coins in silver. The punch-marked coins were in

circulation during the Satavahana age, because that age falk eariier

to the days of Buddhaghosa. They were probably private issues.

The Suttavibhanga section of the Vinayapitaka mentions

karsapana along with the lauha masaka, jatu masaka and dam

masaka coins. Buddhaghosa's Samantapasadika explains the

second and third respectively as (i) those made of bits of wood and

bamboo and pieces of palmyra leaves on which figures were cut in

and (ii) those made of a quantity of lac or gum with the impression

of figures. It is doubtful whether the state issued coins of such flimsy

material. They were commonly issued by local issues.

Some copper coins bore the names of certain localities like

Tripuri, Ujjayini, Kausambi, and Varanasi. It is hardly possible to

prove that they were not issued by local bodies pertaining to the

places in question. The same is the case with similar coins bearing

208

the word negama (Sanskrit - naigamah) meaning traders or members

of an administrative board pertaining to a town. Lumps of copper,

known as the Dhabua, were not state issues.

It is well known that, in the late medieval period, coins of

various ages and countries passed as currency in the Indian market.

The currency of the old Rudradamaka coins in Buddhaghosa's age,

as referred to above, of the silver coins of Kalacuri krsna of the 6"'

century even in the 8* century and of early Roman coins in the

markets especially of South India has to be remembered in this

connection. Under the circumstances, it is difficult to believe that

coins minted by anybody anywhere could have been effectively

prevented from being circulated in the ancient Indian market.

When punch-marked coins manufactured centuries ago were

in circulation, it seems to us practically impossible to check additions

to the old stock from time to time by guilds and silversmiths. The

above said coins were used all over India though the whole country

was never under a single suzerain. Often there was no effective

administration in many areas.

209

JAINA LITERATURE

In the Jaina literature too, there are references to coins like

karsapana, pana, kakini, etc. The Upasakadasanga Sutra mentions

the term hiranya suvarna'^^. Like wise A vasyaka Curni ^ of Jinadasa

Mahattara and A vasyaka Tika of Haribhadra"^ mention suvarna.

Here suvarna refers to the gold coins current at that time. U.P.

Shah shows that hiranya and suvarna are the gold coins in Western

and Eastern India during Kusana and Gupta periods. We have already

referred to these gold coins in the Vedic period also. These coins

were prevalent in Kusana and Gupta period also.

Kahapanas are also referred to by the Vasudeva - hindi where

a wood cutter is seen getting with great labour, one kahapana, at

the end of the day. Here the karsapana may be a copper karsapana.

It is also described in another story from the same text, where we

are told that a Tittiri bird was sold for a karsapana.

Brhadkalpabhasya refers the denominations of coins like

kevadika, suvarna, dinara, ketara and kakini, in the following

passage: 42. Upasakadasanga Sutra, I. p.6.

43. JinadasaMahatXara, AvasyakaCurni, p.39.

44. Haribhadra, A vasyaka Tika, p.64.

210

Here the kakini is the name of a copper currency in the

Daksinapatha. Dramma was a silver coin current in Bhillamala

(West of Abu, in Marwar) and the golden dinara was used in the

Eastern parts of India, kevadika also known as ketara^ was also a

current coin of Eastern India.

The Brhatkalpabhasya gives the account of some gathas

referring to exchange value of different coins. Thus, two Sabhakaras

of Dvipa = one silver coin of Uttarapatha,

2 Uttarapatha coins = 1 silver coin of Pataliputra

2 Silver coins of Daksinapatha = 1 Nelaka of Kaiicipuri in

Dravida country.

2 Nelekas of Kaiicipuri = 1 silver of Kusumapura

(i.e. Pataliputra)

" J • '

45. Brhatkalpabhasya, ed. by. Punyovijayaji (Bhavanagara), Vo.II. p.573.

211

The locations of Dvipa to the South of Saurastra in the sea

may be noted. The Sabhakaras, current in Dvipa were pre-Islamic

silver coins known as Sabean coins."^

The following passages also can be seen:

An unpublished Jaina text, Angavijja, refers suvarna, masaka,

dinara -masaka, and masaka, besides kahapana,khattapaka,purana

and sateraka. Thus, there was amasaka called suvama masaka, which

probably meant the smallest gold coin of the series of which the

suvarna was the highest one. In this case one is inclined to take

suvarna as the gold coinage of the imperial Guptas. The rajata

masaka was the lowest coin of the current silver coinage. The dinara

- masaka was the smallest coin of the series of the Roman

46. RekhaJain,op.cyf.,p.l76. 47. Brhltikalpabhasya, Vol.IV, p.l069.

212

'denarius'. The expression masaka seems to be simply referring to

the general and most current smallest denominative of the copper

coinage, simply called masaJta. Then the text refers to kahapana or

karsapana. For the first time we find here the term khattapaka, which

means Kstrapaka; this was obviously the coinage of the Western

Ksatrapas. Next we find the term purana and sateraka, the latter

being often written as sabharaka in some Manuscripts.