Minerals and Metals in Ancient India v2.c40.s3.t1.5

v2.c40.s3.t1.5

The kārṣāpaṇa monetary system started around sixth century BC probably as a standard for collecting kara or tax, toll and royal revenue (Pāṇini, 5.1.29 and 6.3.10). The word kārṣāpaṇa is unknown in the Saṃhitā or Brāhmaṇa literature, and is peculiarly a Sanskrit term of the Sūtra period. (Agrawala, 1953:264) Numerous hoards of this punch-marked coin, also known simply as paṇa, have been found in various parts of India. The sub-multiples of kārṣāpaṇa were known as: ardha (1/2), pāda (1/4), dvi-māṣa (1/8), māṣa (1/16) and ardha-māṣa or kākaṇī (1/32) and ardha-kākaṇī (1/64). Pāṇini mentioned part of this series in 5.1.34: paṇa-pāda-māṣa-śatādyāt. Pāda means a quarter, and there had been pāda-niṣka or panniṣka coins in the Vedic age. In Pāṇini 5.1.34, pāda meant quarter of a kārṣāpaṇa.