Lectures on Ancient Indian Numismatics (Carmichael Lectures, 1921) c9.53.1

c9.53.1

We now come to the consideration of the administrative aspect of the science of ancient Indian coinage. And the first question that arises here for our consideration is: who exercised the prerogative of coinage. Of course, so far as the historic times go, this prerogative pertained to the Sovereign, whether it was Sovereign One or Sovereign Number. That most of the old coins were issued by rulers foreign or indigenous to India is too well-known to require any demonstration. And I had more than one occasion to tell you that coins were issued not only by individual rulers but also by Gaṇas or Oligarchies, Naigamas or Autonomous Cities, and Janapadas or Provincial Democracies. Coinage thus was the special privilege of the state in ancient India. I am aware that instances of what may be called ‘Temple coinage’ are by no means unknown, and I may draw your attention in this connection to a paper contributed by Mr. Robert Sewell to the *Indian Antiquary*, 1903. In this paper he describes coins which were struck at the principal temples in southern India. It is true that they were not connected with any regular state issues, but there is every reason to suppose that they were nevertheless struck by, or, at any rate, with the sanction of, the state. And, in fact, this is admitted by Mr. Sewell himself.