Minerals and Metals in Ancient India v1.c18.s5.2

v1.c18.s5.2

The earliest coins were punch-marked coins made of gold, silver and copper. In a number of silver punch-marked coins copper was used for alloying and debasing. Bhardwaj (1979: 140-42) mentioned that Caley had fixed the chronology of Pārthian kings, gradually increasing the copper content of silver coins, and proposed that a similar approach could be taken to establish the chronology of punch-marked coins in India. Kautilya’s Arthaśāstra recommended 11 parts of silver (68.75 % of the total), 4 parts of copper (25 %) and 1 part (6.25%) of any other base metal such as iron, tin, lead or antimony, for preparing silver coins. In some 400 BC punch-marked coins, the percentage of copper went up to 70-72 per cent and that of silver came down to 22-28 per cent. This clearly reflec-ted the growing shortage of silver in the country. Copper, though considered as less precious, was more abundant and freely used in making coins and various alloys.