THEY are ancient coins that were first mined in India in 6th century BCE, during the time of Gautam Buddha. They are so called because of the way they were manufactured. Metal sheets were cut into strips which were then cut into small rectangular pieces of species weights. Symbol were stamped on one or both faces of these pieces with separate punches. often, small bits were clipped off from the edges in order to get the extra weight. That is why many punch-marked coins are irregularly shaped.
Mainly made of silver and copper, they came in various shapes, sizes and weights. They bore various types of symbols inspired by nature like the sun, various animals motifs, trees, etc. in addition to a six-armed wheel and other geometric motifs. The obverse had as many as five symbols while the reverse had one or two. It is not yet clear what these symbols signified.
The coins were initially issued by merchants guilds and and small states (janapadas). The system of coinage continued to evolve under the Magadha Empire and the succeeding Mauryan Empire. The imperial series of punch- marked coins issued by the Mauryas were used all over the country.
Punch- marked coins continued to be circulated until the fifth century AD, after which cast and die-struck coins were used. They are proof of trade and commerce in ancient India.
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