Lectures on Ancient Indian Numismatics (Carmichael Lectures, 1921) c9.53.4

c9.53.4

When the obverse devices are in most cases found to occur in constant and regular groups, no sane scholar can subscribe to the view that they were affixed haphazard by shroffs and moneyers. But the question that presents itself to us here is whether these different groups of symbols were the characteristic marks of different merchants as contended by Prof. Rapson or of different localities as maintained by Dr. Spooner. Of course, such of these groups as contain the river or the hill symbol, *e.g.*, can scarcely be thought to be the distinguishing devices of individual merchants, but must be taken to be the peculiar marks of localities, as I showed in my last lecture. There can therefore be no doubt as to some of these groups being the special marks of special towns and villages to which the coins bearing those groups must be assigned. Nevertheless, some of the groups may have belonged to individual merchants as is held by Prof. Rapson. This is not at all unlikely, though it cannot be definitely proved.