chapter - vi information about coins...
TRANSCRIPT
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.,
200
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
203
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.