Lectures on Ancient Indian Numismatics (Carmichael Lectures, 1921) c8.33

c8.33

Let us find this out, in the first place, in the case of the copper Kārshāpaṇa to which we have already confined our attention. The numismatist who has made a systematic study of the Kārshāpaṇa is Sir Alexander Cunningham, whose view would therefore naturally be worth seeking for in this matter. "The unit of the old Indian copper money," says he, "was the *pana*, weighing 80 *ratis*, or 146 grains. This was subdivided into halves, quarters, eighths and sixteenths, of all of which I possess numerous specimens."¹ Cunningham is here speaking of that class of coins called Punch-marked by authorities on Indian Numismatics, and he affirms that he was in possession of numerous specimens not only of copper Kārshāpaṇa but also of at least four of its smaller tokens. This testimony is, therefore, invaluable. But let us take another instance. I have already informed you that in the ancient Vidiśā copper Kārshāpaṇa was the standard money from slightly before the rise of the Mauryas to at least the beginning of the Gupta supremacy, *i.e.*, for upwards of 600 years. And you would naturally be curious to know whether in that ancient capital of Central India punch-marked coins of these proportionately diminishing weights were found. If you refer to my two reports on the excavations I carried at this place,¹ you will find that the coins picked up here completely confirm Cunningham’s conclusions, and also prove something more. What this ‘something more’ is, will be duly placed before you in the course of this lecture, but what we are here specially concerned with is that many coins were found in these excavations, corresponding in weight to 1/1, 1/2, 1/4, 1/8 and 1/16th of Karsha and thus pointing clearly to their being Kārshāpaṇa and its sub-divisions.