Consider the following statements regarding the coinage system in Ancient India 1 The first coins in...........

Ancient and Medieval History(HCS) Pre Mauryan Period

Consider the following statements regarding the coinage system in Ancient India:

1. The first coins in India may have been minted around the 6th century BC by the Mahajanapadas of the Indo-Gangetic Plain.

2. According to Arthshastra, the silver coin was called panas and the copper coins were called mashakas.

Which of the statement(s) given above is/are correct?

1 only

2 only

Both 1 and 2

Neither 1 nor 2

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Explanation:

Punch Marked Coins It is evident that the first coins were minted in India just before 5th century BC. While the punch marked coins were started being used during the times of Mahajanpadas. It is in 500 - 600 BC, silver became abundantly available of which most of it came from Afghanistan and Persia as a result of international trade.

Silver for coins were available in three types, namely Tuthatat of Tutha mountain, Gandika from Burma, and Kambu from Afghanistan‘s Kamboja.

So a large amount of silver and copper as well coins were used during the Mauryan Period.Certain symbols such as the crescent-on-arches, tree-in-railing, and peacock-on-arches have been associated with the Maurya kings. .

As per the Arthashastra, silver coins (with some amount of alloying) called panas and copper coins called mashakas during that time .