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History of Indian Coins

by- Somya Mittal

Current Rupee Coin

After India won it's independence, they slowly changed their currency as their country evolved.

  • New series only came out on January 26, 1950
  • Frozen series (1947-1950)- transition between British coins and Republic India, still had British monarch
  • Anna series (1950-1957)- India's first real coinage, Lion Capital of the Ashoka Pillar replaced royalty, corn sheaf replaced tiger
  • Decimal series (1957-1964)- rupee divided into 100 paisa
  • Aluminum series(1964-1988)- small value coins minted in aluminum until 1970 when they were discontinued
  • Change has made it necessary to make currency of bigger values

Lion capital of the Ashoka pillar

When the British took over, they put their own monarch on the coins.

  • minted coins in Western India, but Southern and Eastern India had Mughal paterns.
  • Gold coins were known as Carolina, silver Anglina, copper cupperoon, and tin tinny
  • Indian Coinage Act (1906)- governed where coins were made and what the standards for coins were
  • Coins had monarch as the motif
  • Anna, Pice, Pie, Rupee system

After the Mughals (con.)

Mysore-

  • Kingdom in southwest India ruled by multiple dynasties
  • Haider Ali took over and proclaimed himself King- used coins of both Mughal and Vijay Anagar standards
  • Tipu, his son, put the Mughal Emperor not himself on the coin

Coins of the Sikhs-

  • Started of as a religious community, but because of Mughal oppression became a formidable military power
  • Coins without Mughal Emperor, called Nanakshahi

Hyderabad-

  • Founded in 1724, became one of the largest states
  • Coins were first issued with Mughal Emperor, then with founder's name in 1958

The Nanakshahi coin

When the Sultans came, they issued coins with Islamic motifs.

History in this period of time-

  • Arabs conquered Sindh 712 AD
  • Turkish Sultans emerged in Delhi

The coins changed to include Islamic motifs because of the islamic influences. The coins were called tanka, and the smaller ones were called jittals.

After the Mughals, other leaders rose and created individual coinage.

First coin was punch-marked on silver and issued in 1st century AD

Marathas-

  • Tried to fill the void the Mughals had left, but conquered land too soon and were spread too thin
  • Shivaji issued three types of currency- Hali Sicca, Ankushi, and Chandori.

Awadhs-

  • Nawab- Wazirs took over a province in Northern India
  • Leader claimed independence from the Mughals, but he kept the Mughal ways of doing things
  • Nawabs fell, but in an uprising, the revolutionaries made coins in the name of the Nawab- Wazirs.

  • The first coin was a "punch-marked coin", named after how it was made. The coins were made of silver, and their motifs were usually suns, animals, trees, and geometric symbols.
  • First issued in 7th-6th century BC- 1st century AD by merchants

Marathas- Orange

British- Blue

The Mughals came and standardised coins.

History of this period in time-

  • 1526 AD (when Babur defeated the last Sultan of Delhi) to 1857 AD (British deposed Mughal Emperor)

How coins changed

  • Mughals made coinage more uniform and consolidated
  • Used tri-metalism and ornamentation of the background
  • Jehangir (4th Mughal Emperor) made coins that had zodiac signs, literary verses, and potraits
  • Shah Jehan (5th Mughal Emperor) standardised coins to include name

Jehnagir- 4th Mughal Emperor

How India progressed in their coinage...

India had different types of coins through ancient, medieval, pre-colonial, and modern times. Not only did coins help people buy and sell more easily, they also projected the art of engravers. The motifs engraved on the coins ranged from leaders to fauna and flaura.

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