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Ancient India: Coin Gallery

Today's coins (20 of them) come with minimal descriptions of their era. This is a collection of unusual Indian coins from ancient to 17th century - spanning about 2 millenia (600 BCBC - 1700 AD). There is an Indo-Skythian coin over-struck by the Satavahanas, a usurper of the Western Kshatrapas, and a coin issued by the Paramaras to celebrate their recovery of Malwa circa 1190, and a coins from Omkara Mandhata, a temple in Malwa, which may have been the issuer.


Magadha Janapada (600-465 BC), Karshapana, Punch Marked Coin The Karshapana coins issued by the Magadha Janapada between 600 and 465 BCE are among the earliest known forms of coinage in India. Magadha, one of the sixteen Mahajanapadas (great kingdoms) of ancient India, was located in the eastern part of the subcontinent, encompassing parts of present-day Bihar. These coins are characterized by their punch-marked technique, where various symbols were individually stamped onto pieces of silver of irregular shapes and sizes.

A silver drachm of the Kunindas issued under Amoghabhuti around 150-80 BCE. The Kunindas were an ancient tribe located in the Himalayan foothills of present-day Punjab and Himachal Pradesh. Their coinage is significant for showcasing a blend of Greek and Indian influences—a result of interactions following Alexander the Great's incursion into the Indian subcontinent. The AR drachm features inscriptions in both Brahmi and Kharosthi scripts, and sometimes Greek motifs, symbolizing a syncretic culture that thrived on trade and exchange of ideas.

Sapadbizes was a ruler associated with the Yuezhi, a nomadic people originating from the steppes of northwest China who migrated into Central Asia during the 2nd century BCE. In the late 1st century BCE, Sapadbizes established his authority in the region of Bactria (modern-day Afghanistan and surrounding areas), a crossroads of cultures following the fragmentation of Alexander the Great's empire. His reign is primarily known through his coinage, particularly the silver hemidrachms (AR Hemidrachm). These coins bear the Greek inscription "CΔΠΔΛBIZHC" (Sapadbizes) and feature Hellenistic artistic influences, such as Greek-style portraits. The use of Greek inscriptions and iconography on his coins reflects the lingering Hellenistic influence in the region and a fusion of Greek and Central Asian cultures.

Nahapana was a significant ruler of the Kshaharata dynasty, a branch of the Indo-Scythians (also known as Western Kshatrapas), who exerted control over parts of western India during the 1st century AD. The Indo-Scythians were originally nomadic tribes from Central Asia that migrated into the Indian subcontinent, bringing with them a fusion of cultural and artistic influences. Nahapana's reign is particularly noted for his extensive coinage, especially the silver drachm (AR Drachms), seen below. These coins often feature inscriptions in Brahmi and Kharosthi scripts, displaying his name and titles, and his portrait shows a blend of Greek and Indian cultures that come from Alexander the Great's incursions. The widespread circulation of Nahapana's silver drachms not only facilitated trade across his dominions but also reinforced his authority and the syncretic cultural landscape of the region during that era.

Post-Mauryan (Deccan), Satavahanas (Andhras), Gautamiputra Satakarni, circa 53-78. Drachm (Silver, 17 mm, 2.00 g). Overstruck on a drachm of the Western Satrap Nahapana, probably a short time after Gautamiputra Satakarni defeated, which according to R. Fynes took place sometime after 71 AD. Gautamiputra Satakarni, ruling circa 53-78 CE, was an emperor of the Satavahana dynasty in the Deccan region of India after the decline of the Mauryan Empire.

Satavahanas, 1st - 2nd Century AD

The Satavahana dynasty, flourished between the 1st and 2nd centuries AD, and issued a variety of coins, with copper coins playing a significant role in everyday transactions across the Deccan region of India.


On the reverse of this coin is the Ujjain symbol (a cross with four circles at the ends), which has multiple interpretations, among them a proposal that it represents the four cardinal directions. The obverse shows an elephants, symbolizing strength and sovereignty.

’Abhira’ interlude in Western Kshatrapa period, Ishvaradatta (usurper) c. AD 236-239, Silver Drachm

Between AD 236 and 239, the Western Kshatrapa dynasty experienced a brief but notable disruption known as the Abhira interlude, during which Ishvaradatta emerged as a usurper to the throne. The Western Kshatrapas, of Saka origin, ruled over parts of western India, including regions of present-day Gujarat and Maharashtra. Ishvaradatta, possibly linked to the Abhira tribe—a pastoral community in the Deccan—seized power amid internal dynastic conflicts and external pressures. Ishvaradatta's authority is primarily evidenced through his issuance of silver drachms.

Indo-Skythians, Western Satraps, Vijayasena, Drachm, SE (Saka Era) 167 = AD 245

Skandagupta, ruling circa 449–467 CE, was one of the prominent emperors of the Gupta Empire, which is often hailed as the "Golden Age" of ancient India due to its remarkable advancements in art, literature, and science. This silver drachm coins that features a detailed representation of a peacock with its feathers elegantly spread, symbolizing beauty, grace, and immortality. The peacock holds cultural and religious significance in Indian tradition and is often associated with Lord Kartikeya (Skanda), the god of war and Skandagupta's namesake.

Guptas silver Hemidrachms of Kumaragupta (414-455) and Skandagupta (455-480)


Sri Vinayaditya was a ruler associated with the Kidarite Huns, who controlled parts of Central Asia and northwestern India during the late 5th century CE. The Kidarites succeeded the Kushan Empire and continued many of its cultural and numismatic traditions. Under Sri Vinayaditya's reign, the Kidarites issued debased gold dinars (AV dinars), which were gold coins with a reduced purity compared to earlier issues.

These debased dinars often featured the king's likeness on the obverse side, depicted in a style reminiscent of Kushan iconography, including royal attire and regalia. Inscriptions were typically in the Bactrian script, reflecting the linguistic heritage of the region. The reverse side displays Ardochsho, the goddess of wealth and prosperity.

Vishnukundin Dynasty (450-615 CE), Andhra Region, Copper Base Alloy Unit

The Vishnukundin Dynasty, reigning between 450 and 615 CE in the Andhra region of southern India, issued distinctive copper coins that vividly reflect their cultural and religious identity. These coins typically display the image of a lion on the obverse side, symbolizing strength, courage, and royal sovereignty—attributes that the dynasty sought to embody and project. On the reverse side, they feature a conch shell (shankha), an auspicious symbol in Hinduism associated with Lord Vishnu. The conch shell signifies divine authority and the spread of dharma (righteousness), indicating the Vishnukundins' devotion to Vaishnavism. The combination of the lion and conch shell on their coinage underscores the intertwining of political power and religious devotion.

Kashmir, Chakra Varma, 10th century

Indo-Sassanian Gadhiya Paisa 10th - 11th Century AD BI drachm

Chalukyas of Gujarat AD 11-12th Century AD

The Chalukyas of Gujarat, also known as the Solankis, ruled parts of western India during the 11th–12th centuries AD and were a prominent regional power known for their architectural, cultural, and economic influence. Their coins were derived from the earlier Sassanian coinage of Persia but adapted to the Indian context. These coins typically featured the king’s bust on the obverse side, often stylized with a crown, while the reverse side displayed a fire altar, an element borrowed from the Zoroastrian tradition of the Sassanids. However, over time, the designs became more abstract, reflecting Indian artistic sensibilities.

Chahamanas of Sakambhari and Ajmer, Ajaya Deva, circa 1110-1120. Unit (Silver, 16 mm, 4.57 g). Ajaya Deva expanded his kingdom through successful military campaigns. The Chahamana dynasty, a branch of the Chauhan clan, distinguished itself in successfully fighting off several Ghaznavid raids.

Paramaras of Vidarbha, late 12th century, Gadhaiya, traditionally attributed to the Silaharas of the Konkan, but Maheshwari assigns it to the Paramaras and suggests it was issued to celebrate their recovery of Malwa circa 1190.

Indo-Sasanian Malwa Post-Gupta (late Paramara Dynasty) 13th Century A.D. Bi 'Gadhaiya Paisa'. The reverse legend is thought to refer to Omkar Mandhata, a temple in Malwa, which may have been the issuer.

Malwa. Gadhaiya circa 13th century, Stylized Sasanian fire altar with Devangari 'OM' within, similar to the Omkara type and may have been a temple issue.

Nayaks of Madurai. ca. 17th century AD

The Nayak dynasty was founded by Viswanatha Nayak around 1529 AD under the guidance of the Vijayanagara emperor Krishnadevaraya. After the fall of Vijayanagara in 1565 AD, the Nayaks became de facto independent rulers. Their kingdom encompassed the southern parts of present-day Tamil Nadu, with Madurai as the capital. This coin for the Thanjavur Nayaks has the gods Rama and Sita on the obverse and a Sivalinga (representation of Siva) with garland.

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