Minerals and Metals in Ancient India v2.c41.s8.1

v2.c41.s8.1

The *Arthaśāstra* described a system of coinage based on silver and copper. One silver *paṇa* had a specific weight *karṣa* or *suvarṇa* equalling 16 *māsakas*; its composition was one *māsaka* of hardening alloy (iron, tin, lead or antimony), 4 of copper and the rest or 11 of silver. Half-, quarter- and one-eighth *paṇa* coins had proportionally smaller weights but the same alloy composition as that of a *paṇa*. The weight of one *māsaka* copper coin was probably the same as that of a silver *paṇa*. The *māsaka*, half *māsaka*, quarter *māsaka* known as the *kākaṇī*, and half *kākaṇī* copper coins (progressively lower weights) had the same composition, viz., one-quarter hardening alloy and the rest copper (2.12.24).