Lectures on Ancient Indian Numismatics (Carmichael Lectures, 1921) c9.31

c9.31

We shall now first take the metals of which coins were composed. The passage from Buddhaghosha’s commentary, we have just seen, speaks of four such metals, *viz.* gold, silver, copper and iron. Coins of gold, silver and copper belonging to the pre-Muhammadan period have been found in numbers. No ancient coin of iron, however, has yet been found; at any rate, none is yet known to me. And even in the modern period I have not been able to trace more than one reference to it. Mention of an iron coin has been made by W. Elliot in connection with the old coinage of the Travancore State.¹ It must not be supposed that these are the only metals of which coins were made in ancient India. Lead, nickel and mixed metals like potin and billon were also brought into requisition. Thus the *Nidāna-kathā* prefixed to the *Jātakas* speaks of the *sīsa-Kāhāpana* or lead Kārshāpaṇas. And, as a matter of fact, lead coins are found issued shortly before and after the beginning of the Christian era and both in north and south India. The use of lead for the first time occurs in the coinages of Strato, Azes and Rañjubula who ruled over north India and before or about the commencement of the Christian era. Lead coinage was issued also by the Andhrabhṛtya dynasty, and is found exclusively in the Andhradeśa, the home of the race, in the Anantpur and Cuddapah Districts and in the region of the Coromandel Coast. Lead currency is found exclusively also in the Chitaldrug and the Kārwār District but issued by the Mahārathis and the Kadambas.¹ And it is associated with potin coinage in the Kolhāpur province struck by Viḷivāya-kura and his successors. Lead coinage seems to have been temporarily introduced apparently by the Mahākshatrapa Rudrasena III in Mālwā and during the period when silver coins are not found.