Lectures on Ancient Indian Numismatics (Carmichael Lectures, 1921) c10.36

c10.36

That copper was of much higher value in ancient India than at present is evident in another way also. In Lecture III, I informed you that, in some places, such as Vidiśā, there was nothing but copper currency only. How is this possible except on the supposition that copper possessed much greater value than now? For what was then the standard money at Vidiśā? It was the copper Kārshāpaṇa, as I told you. Kārshāpaṇa, we know, contained sixteen Māshas or Paṇas, and each Paṇa, according to the Līlāvatī, was valued at 80 cowries. Again, a Kārshāpaṇa, we know, was equal to 80 Ratis or Guñjās in weight. Here then we have got a standard copper coin, namely, Kārshāpaṇa, which is 80 Guñjās in weight, and is, in value, equal to 80 × 16 = 1280 cowries. Take now the modern pice which weighs 48 Guñjās. Its value in cowries however differs in different provinces.